NFT Scalability With Solana

As Solana has grown in popularity, a part of the Ethereum network's activity has migrated to this blockchain with lower gas fees. Non-Fungible Tokens (NFTs) are one of the key growth areas of this emerging network.

Further, with its improved scalability, Solana is attracting more creators to mint their NFTs on the blockchain, and judging from trends, it also attracts participants with less capital.

In this week's BSC News NFT round-up, we look at some of the notable NFT collections that have made a lot of impact on Solana. Let’s dive into it:

DeGods

DeGods is currently the largest NFT project on the Solana blockchain. The platform is innovative, community-oriented, continually gives back to its holders, has celebrities like IceCube involved, and so much more. As a result of all of these qualities, DeGods has become the success story it is today.

In August, DeGods reached a floor price of 300 SOL (roughly $9,570). The total volume of DeGods shows 1.31 M SOL ($41 million) with a floor price of 289 SOL ($9,112).

Y00ts Mint Toob

The y00ts mints toob collection was created by the founders of the hyper-successful DeGods NFT project. As a result, it was one of the most hyped collections at its release and had 15,000 NFTs in circulation. The mint price of a y00ts was 375 DUST, a little over $1,000.

Y00ts’ floor price spiked to 144 SOL (about $4,467) on Sept. 7. At the moment, the total volume of y00ts NFT shows 564K SOL ($1.76 million), with a floor price of 103.33 SOL ($3,205).

Okay Bears

“We are going to be okay” is the tagline for Okay Bears, a collection of 10,000 pieces of clean NFT. One thing that makes Okay Bears stand out is their blueprint. Each part of the blueprint has its utility. There are seven different sections: a park, a workshop, a gallery, a boutique, a studio, a platform, and a bear market.

Okay Bears floor price shot up to 215 SOL (about $12,280) on May 18. The total volume of Okay Bears NFT is 564K SOL ($66 million) with a floor price of 48 SOL ($1,489).

Solana Monkey Business

There are 5000 unique, randomly generated SolanaMonkeys stored on the blockchain as part of Solana Monkey Business (SMB). With their accessibility-oriented design, the monkeys aim to build a large community around the Solana blockchain supported by owner-exclusive advantages, a community wallet, and a future voting system.

SMBs' floor price jumped to 288 SOL (about $36,535) on May 18. The total volume of SMB NFT currently stands at 1.18 million SOL ($37.7 million), with a floor price of 199 SOL ($6,362).

Boryoku Dragonz

There are 1,111 Dragon NFTs in Boryoku Dragonz on Solana, each earning passive income for its holders in the form of the BOKU cryptocurrency. Unlike most NFT collections, this project offers unique features to holders, such as daily token airdrops, breeding games, and token-burning mechanics.

Each Boryoku Dragonz NFT holder receives 7 BOKU tokens daily. With one Boryoku Dragonz NFT, you could earn $138.32 per day and over $50,000 yearly if the BOKU token reaches its all-time high price of $19.76.

On Feb. 19, Boryoku Dragonz's floor price jumped to 369.69 SOL (approximately $33,290). Boryoku Dragonz NFT has a total volume of 162.3K SOL ($5.18 million) with a floor price of 68.68 SOL ($1,471).

Most of these collections are relatively young and have a lot of potential if the projects are executed well. The popularity of the Solana blockchain and NFTs continues to grow, and it will be interesting to see how these projects turn out.