Solana Monkey Breaks NFT Record on Solana, Sells for Over $2M

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A Solana Monkey recently became the first NFT on the Solana network to sell for a record-breaking $2 million in USD. The NFT in question is part of the 5000-strong ‘Solana Money Business’ collection and is simply named ‘Solana Monkey #1355’.

This news comes just one month following the sale of the first-ever NFT on the Solana blockchain, which took place in early September 2021.

Solana Monkey Business appears to be in high demand, and it’s definitely in limited supply. This is because it is a collection of just 5000 “unique and randomly generated” NFTs created and stored on the Solana network blockchain.

The supply of Solana Monkey Business is fairly small, but it’s not the most limited collection on Solana. That award would go to many other collections over SMB

This recent sale is for an amount far greater than the average sale price for Solana Monkeys, which over the past 24 hours have sold for an average of 422 SOL, which is still a massive $74,272 per Monkey. This is based on information obtained from Solanalysis.

These monkeys are by far the most valuable type of NFT to be auctioned on Solanalysis right now, with its average daily sale value of 422 SOL. This number towers over the closest, second place NFT collection called ‘thugbirds’ which go for an average of 137.4 SOL (or at the current value of $176 per individual SOL, $24182.4) over the past 24 hours, with a supply that’s lower than that of SMB at just 3,333.

More about Solana

At present, there are over 400 projects that have been built on the Solana blockchain spanning across, and the team behind it claims the blockchain to be the “fastest… in the world” as well as “the fastest-growing ecosystem in crypto”. It is also completely permissionless, like Ethereum – with support for development using Rust, C++, and C programming languages.

Like Ethereum, Solana is a blockchain with support for advanced functions via smart contracts which allow for applications such as the creation and trade of NFTs and DeFi 

Key features include layer two support with a greater level of scalability in terms of speed and fees for the creation and trade of NFTs, DeFi products, and more applications.

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