An NFT monkey based on Solana sold for a record price of over $2 million. In the jungle of NFTs, Ethereum now has to share its territory with alternatives that are more interesting in some respects.
Solana and SolMonkey: an NFT monkey in an orange jacket sold for $2.1 million
On 1 October 2021, SolanaMonkeyBusiness reported in a tweet that SolMonkey, an NFT from its Solana-based collection, had sold for a record price of SOL 13,027, or approximately $2.1 million. The NFT is numbered 1355 out of 5,000 non-fungible tokens in the collection. The SolMonkey in question is the rarest in the collection, according to HowRare.Is.
The token is represented by a pixelated image of a monkey with a skeletal body, with only 2.42% of NFTs in the collection having this feature. It is among the 1.06% of SolMonkeys with an orange jacket, and the 0.02% with a jeweled crown.
NFT’s record purchases on Solana: leader Ethereum cedes ground
Solana’s previous record high was on 11 September 2021. Blockchain advisory firm Moonrock Capital had bought Degen Ape #7225 from the NFT mined collection on Solana from the Degenerate Ape academy for SOL 5,980, or about $1.1 million. Degen Ape #7225 was the 13th rarest NFT in the collection, according to HowRare.is.
In terms of record purchases, the list doesn’t end there. Also on September 11, 2021, Moonrock Capital had acquired the 18th rarest SolPunk in the collection, a CryptoPunks version with the Solana theme, for 1,388 SOL, or about $260,000 at the time of purchase.
Ethereum continues to dominate the NFT sector, but other blockchains are also having their say. The explosion of gas fees on Ethereum is driving NFT projects to look for alternatives like Solana.
Solana’s ecosystem is gradually growing, a growth that is reflected in the rising value of its SOL cryptocurrency whose market capitalization had reached $1 billion by August 2021. In terms of development potential, the SOL blockchain further relies on pillars set up to improve the scalability of its transactions.
Want to stay updated on a daily basis?