Number of NFTs issued on the Solana network exceeds 300 000

The volume of non-fungible tokens has reached an all-time high, according to The Block Research

12.09.2022 - 11:15

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What’s new? According to The Block Research, the number of non-fungible tokens (NFTs) issued on the Solana blockchain reached 312 000 on September 7. By comparison, this figure was only 39 000 on September 4. In addition, trading volumes of NFTs on the Solana network have increased. On September 6, for example, the total volumes across all marketplaces reached $11,5 million, the highest level since May. The market share of Magic Eden, an NFT marketplace on the Solana network, has grown since the beginning of the month from 12% to 36,6%.

The Block’s material

What else does the publication report? Metaplex co-founder Stephen Hess told The Block that many people did not take the NFT space on the Solana blockchain seriously. He compared it to “cold calling.” That said, Hess noted that there has been a breakthrough in credibility over the past few weeks.

The head of Metaplex also reported that customers will be able to issue a million NFTs for 50 SOL (~$1895 at the current rate) due to the platform’s new program. Currently, the cost of creating a non-fungible token on the platform is $0,3.

In June, Solana created a $100 million fund to invest in Web 3.0 startups from South Korea. That same month, Solana Mobile unveiled Saga, an Android-based smartphone, that also focused on Web 3.0.

In August, Solana developers shared the interim results of their investigation into the hacking attack that compromised more than 8000 wallets on August 3. The team found that the affected addresses were linked to the Slope provider.

The native token SOL of the blockchain ranks ninth in the cryptocurrency rankings with a capitalization of $13,41 billion, according to CoinMarketCap. As of September 12, at 10:45 UTC, the asset is trading at $37,9, having gained 9,31% in 24 hours, according to cryptocurrency exchange Binance.

For why Solana’s price is resistant to bad news, read GetBlock Magazine’s article.

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