Azuki NFT creators plan to raise $30 million, reports say

Chiru Labs, the studio behind the Azuki NFT collection, is preparing to close a Series A funding round of $30 million at a valuation of $300 million to $400 million, according to informed sources cited by The Block.

Final terms have not yet been agreed, with negotiations nearing completion.

The Azuki collection is issued on the Ethereum blockchain and consists of 10,000 tokens. According to OpenSea, the minimum NFT price stands at 11.4 ETH ($14,670). The aggregate sales volume of the corresponding works on the marketplace reached 262,000 ETH (about $337.2 million).

Earlier, the NFT project Doodles raised $54 million from Reddit co-founder Alexis Ohanian.

Earlier, the firm Seven Seven Six invested $10 million in the Moonbirds NFT startup Proof.

In August 2022, NFT trading volume continued to decline globally. OpenSea’s market share (70%) fell to $500 million or less than 300,000 ETH.

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