Ethereum-based NFTs have at all times maintained their reign within the Non-Fungible Token (NFT) panorama. Nevertheless, the final 24 hours appeared to have dethroned the mighty ETH-based NFTs. And, apparently, the one to have facilitated that, is none aside from Solana (SOL).
Okay Bears, SOL-based NFT utterly offered out throughout the first 24-hours of going stay. The NFT additional witnessed a buying and selling quantity of 147,161 SOL with a 19.48% hike within the final 24 hours of press time.
In simply three days for the reason that NFT launched on OpenSea, Okay Bears famous a buying and selling quantity of 510.1K with a flooring value of 115 SOL. On the time of writing, the NFT had 1,356 gross sales with a day’s buying and selling quantity of 6,259.09 SOL.
It’s on this context, that one could be simply reminded of Bored Ape Yacht Membership (BAYC) NFTs. And, you would possibly ask if Okay Bears will surpass BAYC within the close to future.
Let’s search for a solution
After its launch in April 2021, the BAYC NFT, on 4 Might 2021, witnessed a buying and selling quantity of 960.197. Moreover, MAYC, which was launched on 28 August 2021, witnessed a buying and selling quantity of 1,149 with roughly 212 gross sales on 6 September 2021.
Upon evaluating the sale of the “bears” to the sale of the “Apes”, it may be acknowledged that Okay Bears is most respected to Solana the best way BAYC and MAYC are to Ethereum.
Moreover, as per information from Dune Analytics, the OpenSea day by day quantity for SOL (left) has spiked considerably submit 25 April 2022 and the OpenSea day by day NFT transaction for SOL (proper) has additionally proven vital development submit the launch of the Okay Bears NFT assortment.
Supply: Dune Analytics
Moreover, the information chart given beneath depicts “Whole NFT Commerce Depend” as per Santiment. As of 30 April 2022, the general NFT commerce quantity stands at 19,717, which is a dip as in comparison with the general sale on 29 April 2022.
The worth chart given beneath additional depicts that 26 April 2022 witnessed a decrease commerce quantity of 46,923, which then picked up on 27 April 2022 and reached 58,494 solely to drop down once more.
Supply: Santiment
What lies forward?
With the Okay Bears NFT assortment offered out inside hours of being launched, the creators put out a press release sharing plans for the long run.
A tweet was put out by the Okay Bears group, which acknowledged that the founders have laid out plans for the subsequent 12 months. It wouldn’t be unwise to take a look at the sale of the Okay Bears NFT assortment and speculate that SOL could be able to rule over the NFT market within the coming future.
