June 29 (Cointime) - Long-term holders of Azuki NFTs have been selling their digital assets in large numbers following the launch of the new Elemental collection. This resulted in an 817% increase in long-term holders selling their Azukis, according to crypto data provider Nansen.

The Elementals collection, which belongs to the Azuki ecosystem, sold out within 20 minutes, generating $37.5 million in revenue. Holders of Beanz Official NFTs were also able to purchase Elementals during the exclusive window, and since then, there has been a major sell-off of Beanz NFTs. The Azuki team has acknowledged that they "missed the mark" with the Elemental drop and promised to improve in the future.