A Solana Monkey currently is the the first NFT on the Solana network to sell for a whopping record-breaking $2 million in USD. Additionally, The NFT is part of the 5000-strong ‘Solana Money Business’ collection. Notably, it is popularly called the ‘Solana Monkey #1355’.
Also, this is just coming one month after the blockchain records its first-ever NFT. Of course, This was in early September 2021.
Furthermore, Solana Monkey Business is seeing a massive high demand, while the supply is relatively limited. More so, this is due to the fact that the collection is merely 5000 “unique and randomly generated” NFTs. Which are created and stored on the Solana network blockchain.
Moreover, The supply of Solana Monkey Business is relatively small, though it’s not the most limited records of collections on Solana. Yes, that spot if for many other collections way over Solana Monkey Business.
This is a record-breaking sale because just in the last 24 hours, there’s an average of 422 SOL sold, representing a massive $74,272 per Monkey. Notably, This is from information as Solanalysis reveals.
Furthermore, Record places these monkey NFT sales are the most valuable on Solanalysis right now, with its average daily sale value of 422 SOL. Also, this number is way above the second place NFT collection; ‘thugbirds’ which goes for an average of 137.4 SOL ie. at the current value of $176 per SOL, $24182.4 over the past 24 hours. Lastly, Recording a a supply that’s lower than that of Solana Monkey Business at just 3,333.
A Peep on Solana and Monkey Business
Currently, over 400 projects that is running on the Solana blockchain spanning, with claims on the the blockchain to be the “fastest… in the world”. Also, describing it as “the fastest-growing ecosystem in crypto”. More so, it doesn’t require permissions like Ethereum – with support for development using Rust, C++, and C programming languages.
Solana supports advanced functions through smart contracts, allowing the creation of applications like NFTs and DeFi. For instance, this is why Solana Monkey Business is running on it.
Conclusively, it has layer two support with a massive level of scalability as regards speed and fees. This is for creating and trading NFTs, DeFi products, and more applications.