Solana NFT sales soar, reaching half a billion in three months
- Cryptocurrency News
capital.com- 3 minutes read
Solana NFT sales soar, reaching half a billion in three months.
Solana NFT sales have soared, reaching almost $500 million since the beginning of August, as the price of the sol token continues to rally, surpassing Cardano.
September in particular was a record month for secondary NFT sales volume, with a total of $189.4 million, according to Cointelegraph. This ranks Solana as the fourth-best NFT blockchain behind Ethereum, Ronin and Wax in 24-hour sales volume, as data from CryptoSlam reveals.
Solana’s NFT market is dominated by its two main collections that represent approximately 46% of the entire Solana NFT ecosystem: Degenerate Ape Academy and Solana Monkey Business. Degenerate Apes is seen as a driving force behind Solana’s recent surge and soaring token price. The Degenerate Ape Academy NFT project sold out its collection of 10,000 “smoothest brained” apes in less than ten minutes during its launch in August.
Some highlights of the Solana NFT sale include a Degenerate Ape NFT that sold to European-based blockchain advisory and investment firm Moonrock Capital for an eye-watering $1.1 million (or 5980 SOL). It depicts a zombie ape with a halo eating a brain.
Upcoming Solana NFTs include Drip or Drown on November 7, 2021 where “restoring balance and revitalizing the glory of Atlantis rests on the dorsal fins of 4,444 legendary dolphins”, SolHeroes Academy NFT, and also Soulmates, “a collection of 3,333 unique kisses with the goal to create a closed socially-oriented community.”
The NFT craze initially focused on the Ethereum blockchain, skyrocketing Ether’s popularity. Aiming to become the “Ethereum killer”, Solana offered lower fees as a new player in the NFT space, and is widely seen as a young, scalable and secure alternative.
