Azuki NFT pumps 500% as creators close in on $30 Million fundraise.
The Reported Funding Raise
According to a number of insiders, Chiru Labs, the team behind the Azuki NFT collection, has plans to raise $30 million in a Series A fundraise.
JUST IN: Creator of Azuki #NFT plans to raise at least $30M in an upcoming Series A funding round.
— CoinGecko (@coingecko) September 22, 2022
According to The Block, three individuals who were familiar of the fundraising effort confirmed this fact and explained that most of the $30 million in funding had already been committed. A fourth individual however, warned that details of this apparent fundraise has yet to be finalized.
If this fundraise is confirmed to be true, this would leave Chiru Labs to have a valuation of between $300 to $400 million.
Azuki’s Price Activity
Excitement has been brewing in the Azuki community for a while now, with many holders awaiting the supposed announcements that the team may make sometime this month and in October. Aside from that, with this new news of the team reportedly closing in on a massive $30 million in fundraise, the Azuki collection has seen quite a rise in both their sales and trading volume as well as their floor price.
Azuki saw more than a 500% increase in trading volume, and its floor price went from being 7.63 ETH to 11.1 ETH in just these past 7 days.
Projects Receiving Funding
Azuki isn’t the only project to be receiving massive funding. Recently, Doodles also broke news of receiving $54 million in funding raising their valuation to $704 million.
Aside from that, on August, PROOF Collective, the team behind the Moonbirds and Moonbirds Oddities collection had also bagged a $50 million fundraise while earlier in March, Yuga Labs also raised $450 million in funding, both of which were led by Andreessen Horowitz.
With more and more of these bluechip collections receiving massive funding, it seems that a lot of them have big plans for their future and in expanding their project.