Key Takeaways

• The Azuki NFT collection has been performing relatively well, despite a crypto downturn.
• The platform’s artwork is one of the most traded and is in the top 10 collections by market cap.
• While it does not officially have its own native token, the HiAzuki crypto is backed by a millionth of one Azuki NFT.

Non-fungible tokens (NFTs) are not the hot property they were in 2021 and early 2022, when it seemed like they were going to be the thing that took the blockchain out of its niche and into the mainstream, but they still have their fans. One collection of the rights to links to individual pieces of digital art that has been doing well has been Azuki. 

While the crypto world at large has struggled following the news that the United States Securities and Exchange Commission (SEC) was to sue the Binance and Coinbase exchanges, Azuki, which has inspired the HiAzuki token, which ostensibly tracks the price of Azuki NFTs, held steady.

The cost of the cheapest Azuki NFT – the collection’s floor price – has avoided the worst of the volatility the world of coins and tokens has seen in the run-up to its Follow The Rabbit  event in Las Vegas, Nevada. 

But what is Azuki? What is HiAzuki? How does Azuki work? How does HiAzuki work? Let’s take a look and see what we can find out, and see what we can find out about an Azuki price prediction, too. 

 

Azuki (HIAZUKI) Explained

Azuki is a collection of NFTs based on Anime, Japanese Cartoons. There are 10,000 of them in total, and they were announced by Los Angeles-based developers Chiru Labs in late 2021, with the official release happening in January the following year. The NFTs proved to be a hit at a time when the market in non-fungible tokens was still a big deal, and the initial offering sold out in hours. 

Although there was some talk of an Azuki native token called BEAN, this came to nothing, with the name being partially recycled for Chiru’s Beanz NFT collection. The closest thing to a native token Azuki has is HiAzuki , which was created by the Fracton Protocol and is, apparently, based on the value of one-millionth of an Azuki NFT. 

Perhaps confusingly, there is a crypto called Azuki, but it is linked to the Doki Doki NFT collection, and was launched in 2020. 

 

How Azuki Works

Azuki is an NFT collection. People are able to buy, sell, and trade the rights to links to pieces of digital art. Owners gain access to The Garden , an online area where they can get hold of clothes, merchandise, and NFT airdrops. 

HiAzuki, which is based on the price of Azuki but not linked to it, can also be bought, sold and traded on exchanges. Fracton’s idea is to take its NFTs and turn them into cryptos which are backed by a millionth of the original NFT.

Because, like Azuki itself, HiAzuki is based on the Ethereum (ETH) blockchain, it is a token, rather than a coin. You might see references to such things as a HiAzuki coin price prediction, but these are wrong. 

 

HIAZUKI Price History

Looking at the Azuki price history , probably the most important figure to take note of is the floor price. While a spike in the price of the highest NFT could distort the average price, the cost of admission into The Garden is a far more consistent measurement of how the collection is doing. 

In February 2022, the floor price of Azuki was 5 ETH. The price shot up to a record 25 ETH on 7 April but, about a month later, the collapse of the Terra blockchain pretty much killed the first NFT boom and people could enter the garden for just 6.99 ETH on 12 May. Things got even worse after that, and an all-time low floor price of 5.8 ETH was set on 26 August. 

At the end of the year, as the crypto market struggled with the fallout of the collapse of the FTX exchange, the Azuki to ETH rate went up and it closed 2022 at about 11.25.

So far, 2023 has seen further good news for Azuki. Its price has grown steadily and it reached a peak of 17.788 ETH on 6 June. While the price has dropped since then, it is still better than it was 12 months ago and, on 15 June, it was worth about 16.5 ETH. At that time, it had a market cap of 161,163 ETH, making it the 10th-largest collection by that metric. 

Azuki Price Analysis

HiAzuki has been a bit more underwhelming lately, although the token’s price performance  does come with the context of a bearish crypto market. At a time when most cryptos dropped, the aftermath of the SEC’s legal cases saw it rise 60% from a low of $0.03188 on 5 June to $0.513 on 7 June. After that, though, it sank down and, on 15 June 2023, it was down to $0.0284, a drop of about 45% from the previous week’s high. 

With all 18,835,000 HiAzuki tokens in circulation, it had a market cap of about $538,000, making it the 1,598th largest crypto by that measurement. 

 

Azuki Price Prediction 

Making a price prediction for NFTs is notoriously difficult. There are far too many factors to take into account to end up with a simple forecast figure, which is why Azuki NFT collection floor price predictions are few and far between. 

A cynic might say something similar about crypto price predictions, but there are fewer moving parts when it comes to making them so, right now, it seems fitting to look at some of the HiAzuki price predictions that were being made on 15 June 2023.

It is important to understand that price forecasts, especially crypto ones, have a reputation for being wrong, and that many longer-term cryptocurrency price predictions are made using an algorithm, which means that they can change at any time. 

First, CoinCodex  made a short-term HiAzuki price prediction for 2023 which said the token was in for a pretty good time over the next few weeks. The site said the crypto would climb to $0.0333 by 20 June before $0.0394 by 16 July. Despite that, the site’s technical analysis was bearish, with 12 indicators making discouraging signals compared to nine sending bullish ones. 

Azuki Forecast for 2023

In terms of other sites’ HiAzuki price predictions for 2023, DigitalCoinPrice  was the most optimistic, saying it could trade at $0.0669 this year, while gov.capital  argued for it trading at $0.0416, and PricePrediction.net  had it worth $0.04. 

Azuki Forecast for 2025

Gov.capital had a HiAzuki price prediction for 2025 that said the token would start the year at $0.0671 before climbing to $0.0733 on 15 June and closing the year at $0.0907. PricePrediction.net, on the other hand, said it could reach an average of $0.089. The most bullish forecast came from DigitalCoinPrice, which argued it would be worth $0.10 in two years time.

Azuki Forecast for 2030

Moving on to a more long-term HiAzuki price prediction for 2030, these were, perhaps inevitably, considering we are looking at a token outside the top 1,500 cryptos, a bit more thin on the ground. However, both PricePrediction.net and DigitalCoinPrice were upbeat about the token’s chances, forecasting it to trade at an average of $0.58 and $0.32 respectively. 

 

Is Azuki a Good Investment?

Although the wider world has moved on from non-fungible tokens, at least for the time being, Azuki, which is the 10th largest NFT collection by market cap, with a capitalization of 161,163 ETH, is going strong. What you should keep in mind, however, is that we do not know whether its recent performance demonstrates the last, dying, embers of the NFT fad, or whether it is a light burning in the dark that will spark the flame of NFT renewal. HiAzuki is even more of an unknown quantity, with a market cap of less than $1 million and a place outside the top 1,500 cryptos. As always, you will have to do your own research. 

Will Azuki go up or down?

Nobody can really tell right now what might happen to either Azuki NFTs or the HiAzuki crypto. Although the price predictions are broadly bullish, remember that they are wrong more often than not and that prices can, and do, go down as well as up. 

Should I invest in Azuki?

Before you decide whether or not to invest in either Azuki or HiAzuki, you will need to do your research, not only on the collection and token, but on other related collections, coins and tokens, such as Bored Ape Yacht Club’s ApeCoin. You should also make sure that you never invest more money than you can afford to lose. 

 

FAQs 

How many Azuki are there?

The Azuki NFT collections consists of 10,000 individual NFTs.

Does Azuki have a crypto?

It depends on how you look at it. While plans for a native token called BEAN came to nothing, the HiAzuki crypto, created by Fracton, is supposed to track the price of Azuki NFTs.

What was the most expensive Azuki?

Azuki #9605 sold  on the OpenSea NFT market place for more than 420.7 ETH, or the equivalent of $1.4 million at contemporary exchange rates, in March 2022. 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.