Non-fungible tokens (NFT) Although there is a generally stagnant market for digital assets called Solana altcoin Mobility is increasing in NFT-based NFTs.
Solana Altcoin-Based NFT Issue Number Reaches All-Time High
The shared data board shows that the number of NFTs printed on Solana, i.e. created on the Blockchain, rose to 312,000 on September 7. This figure represents a significant increase compared to 39,000 on September 4.
At the same time, Solana-based NFT volumes also rose, with total volume on marketplaces reaching $11.5 million on September 6, the highest level since May.
Magic Eden, which started operations as a marketplace for Solana NFTs, noted that its market share increased from 12% at the beginning of September to 36.6% on 7 September.
The increased activity in the Solana-based NFT trading space represents a standout spot in the overall NFT market. Volumes in popular NFT markets failed to recover after the steep drop earlier this year.
In general, major projects like Bored Apes Yacht Club and Pudgy Penguins on Ethereum NFTs on the Solana altcoin ecosystem have historically been a small part of this industry.
“I remember once (last year) ‘some people’ laughed at Solana NFTs,” Chase Barker, head of the Solana Foundation developer ecosystem, said on Twitter.
Metaplex co-founder Stephen Hess also said that many people have felt that in the past, Solana did not take the NFT industry seriously.
However, the low-fee mechanism of the Solana ecosystem paves the way for large projects to be copied and sold on this network at a cheaper price.
*Not investment advice.
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