Cryptheory

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

Solana is also experiencing great success in the field of NFT

3 min read

 

As for the sixth largest blockchain by market capitalization, there is usually a lot of interesting news – whether it’s the price of altcoin, the new wave of NFT or the connection to another blockchain.

In short, Solana has become attractive to both cryptocurrency artists and major financial companies such as Grayscale Investments. NTF’s recent milestones only confirm these words.

Solana Monkey Business

Solana recently made a contribution showing that her market capitalization of the NFT has reached $ 1 billion. A large part of this is the “Solana Monkey Business” collection. This NFT series consists of 5,000 hilarious monkey works of art stored on a blockchain.

One of the monkeys in the series – # 1355, the rarest of all – with a skeleton face and a crown studded with a rainbow gemstone, sold for an almost incredible 13,027 SOL – an amount of about $ 2 million.

It is worth mentioning that the famous NFT Solana collection “Degenerate Ape Academy” with comic gorillas has also attracted a lot of attention in the past.

Expected growth

Many might argue that Solana skillfully uses the explosion of interest in NFT to drive her own growth as an interoperable blockchain platform.

One example is the ETH <> SOL token bridge. The bridge was recently launched with the help of Wormhol, and by the beginning of October, more than $ 200 million in total value (TVL) had been locked in it. Solana also tweeted an announcement claiming that more than 100 nonfungible tokens (NFTs) had crossed the bridge just two weeks after its launch.

In addition, Allbridge’s September data clearly showed that more than $ 480 million had been transferred to Solana from other blockchains.

Solana’s growth and October milestones did not come from nowhere. Already in September, there were signs of possible further growth, when, for example, FTX CEO Sam Bankman Fired spoke in his tweet about the NFT market and cross-chains for ETH and Solana. US FTX President Brett Harrison also announced that NFTs minted on FTX can be marketed in SOL, ETH and USD.

Conclusion

It is true that many cryptocurrency enthusiasts and investors could consider the SOLSEA marketplace as another sign of Solana’s growing dominance in the NFT space.

And another proof of Solana’s popularity is success in a somewhat more traditional financial space. The company In October, Grayscale added SOL for the first time to its large-capitalization crypto fund. At the time of writing, the price of SOL is around $ 168.

5 promising NFT games for 2022

Leave a Reply

Your email address will not be published.