What is Azuki NFT?

By Lyle Daly – Updated Mar 20, 2024 at 11:12 AM

Key Points

Azuki NFTs offer exclusive club memberships and benefits through digital avatars.
Founder's history of abandoning projects led to a 50% drop in Azuki's value.
Investing in Azuki is risky due to high volatility and speculative nature.

Azuki is a collection of non-fungible tokens (NFTs) designed by Chiru Labs, a start-up launched by artists and technologists in Los Angeles. Each one is a digital avatar that gives the holder membership access to an online club called The Garden.

The art style of Azuki made it an immediate success. Within four months of launching, it was already ranking among the top NFT collections in terms of sales volume, along with mainstays such as Bored Ape Yacht Club and CryptoPunks. However, Azuki also has raised some red flags, including the founder's track record of abandoned projects. Here's everything you need to know about this collection.

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The letters NFT over a digital background — Source: Getty Images

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About the Author

Lyle Daly is a contributing Motley Fool stock market analyst covering information technology and cryptocurrency. Lyle has been a contributor at the financial services company since 2018. His work has been featured on USA Today, Yahoo Finance, MSN, Fox Business, and Nasdaq. Before joining The Motley Fool, he wrote for financial brands including Intuit.

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Lyle Daly has positions in Ethereum. The Motley Fool has positions in and recommends Ethereum. The Motley Fool has a disclosure policy.