Azuki Brings Back Hope In NFTs After Launching A New NFT Collection

Updated: 22 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Chiru Labs, the digital asset firm and the team behind the popular Azuki non-fungible token project, has partnered with two-time Super Bowl Champion, Patrick Mahomes, to launch a new NFT collection. The new NFT collection has brought back some hope in the NFT market.

NFL Star Patrick Mahomes & Azuki Drop An NFT Collection

In an August 21 blog post, Azuki confirmed teaming up with Patrick Mahomes to launch a new digital collectible collection. These one-of-one NFT trading cards will be raffled off by an Azuki community member to the Azuki community during a live stream later this month.

The @MuseumOfMahomes equip is now available for Azuki holders on https://t.co/ZcGVtcpe7V pic.twitter.com/BJxQ8IU5pA

— Azuki (@Azuki) August 21, 2023

The two-time NFL Superbowl Champion ‘Patrick Mahomes,’ through his Museum of Mahomes, an innovative digital collectibles platform, anticipates leveraging the new blockchain technology to help redefine how fans collect sports cards and memorabilia.

It’s not the first time Patrick Mahomes is launching an NFT collection. In March 2021, the NFL champion sold 500 NFTs, generating $3.7 million in revenue. The open-edition digital collectible collection reflected significant moments in Patrick Mahomes’s sports life. The NFT collection sold out in a record time of just 20 minutes.

Blue-chip Azuki Brings Back Hope In NFTs

Blue-chip Azuki and Patrick Mahomes’ collaboration marks an innovative and bullish move in the world of digital sports collectibles. The integration will offer the Azuki community access to exclusive memorabilia showcasing Patrick Mahomes’ early achievements.

Moreover, the integration also brings back hope in the NFT market. The announcement appears amid a market downturn, which has left many non-fungible token collections in massive losses. The NFT market slump began sometime in June and has left most floor prices shielding 70% of their value.

Earlier in July, the Azuki creator launched its Azuki Elementals, an NFT collection featuring a limited edition of 20,000 anime NFTs hosted on the Ethereum network. The most hyped Azuki’s Elementals was supposed to bring a boom in the NFT market and instead was a bust, as many NFTs looked alike with Original Azukis.

https://twitter.com/_0xtc/status/1675715169845145600?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1675715169845145600%7Ctwgr%5Ecb171bded760722df02dd0cc1dc6fbf6e211f928%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fforkast.news%2Fazuki-nft-markets-historic-lows%2F

Last week, the NFT market suffered another crash after OpenSea, the second-largest market platform, disabled creator royalty enforcement on its platform. The bearish move attracted the attention of the Bored Ape Yacht Club creator Yuga Labs and Billionaire Mark Cuban.

In what seemed a market tussle, the Bored Ape Yacht Club and Mutant Ape Yacht Club creator threatened to delist all its NFTs on the OpenSea platform. OpenSea and Yuga Labs’ royalty battle became a catalyst that drove the majority of NFT collections down to all-time lows. Azuki has brought back hope in the NFT market after launching a new NFT collection amid the market down.