OpenSea — the largest NFT marketplace in the game – revealed last week that it will begin accepting Solana NFTs in April.
For those unfamiliar with the Solana world, it’s critical to understand how this blockchain differs from Ethereum. For starters, Solana is lightning quick – lightning fast. It is now capable of processing 50,000 transactions per second (TPS) at a cost of less than a cent per transaction. This makes it the ideal chain for DeFi initiatives that seek to compete with our present financial infrastructure (the TradFi stock market, for example, can now execute transactions at a rate of less than 40 Sec, or around 400,000 TPS). In comparison, Ethereum 1.0 processes between 15 and 45 transactions per second, and high gas prices may prevent beginners and risk-averse participants from engaging in the ecosystem.
What does this all mean for holders of NFTs? The development of new infrastructure results in the emergence of a new breed of NFTs — ones that appeal to serious traders and developers due to their emphasis on utility, staking, and the metaverse. Now, with a new flood of these sorts of projects making their way to OpenSea, it’s beginning to seem as though another blistering hot NFT summer is just around the corner. However, it appears as though Solana projects are particularly positioned to lead the fight this time.
Here are a few of our favorites.
Solana Monkey Business
Solana Monkey Business Gen 2 is a randomly generated group of 5,000-pixel monkeys. Consider them a cross between the Bored Ape Yacht Club and the Crypto Punks PFPs — but on Solana. In essence, if you own an SMB, you are deemed a Solana NFT royalty. You gain access to MonkeDAO, the first official NFT DAO on Solana, as a holder. This community provides unmatched value to its members via gatherings and initiatives, runs its own node on the Solana blockchain, and is constantly making DAO history via on-chain elections.
Degenerate Ape Academy
The Degenerate Ape Academy was established in August 2021 with the issuance of 10,000 ape PFPs. The collection’s apes have seven distinct physical characteristics: head, body/clothing, fur/skin, backdrop, eyewear, and mouth, with a total of 137 different qualities. The institution was formed on the ideals of “friendship building, crayon eating, and uncontrolled, unregulated, horrible, depraved behavior,” according to the founders. As Solana’s first million-dollar NFT collection, the initiative created history.
DeGods
It was nearly impossible to browse through Solana NFT Twitter during the previous month without coming across a mention of DeGods. That is primarily due to the fact that this collection is not your typical PFP endeavour. If you are a holder, you may stake your NFT for ten dollars per day in $DUST — a utility token that will soon be incorporated into Magic Eden, Solanart, metaverse projects, and play-to-earn games. The total supply of $DUST is 33,300,000, and the only way to mine it is by staking your DeGod or DeadGod, the cosmetic improvement available exclusively to DeGod holders by placing these 1/1 pieces over their original NFT (without changing their metadata or the original rarity attributes). Additionally, if you have a DeadGod, you may earn three times the $DUST that a DeGod can.
Cets On Creck
Cets on Creck demonstrates the transformative power of art and community. In an oversaturated market for animal PFP projects, this one saw a breakout month in March, with the floor price reaching an all-time high of over 30 SOL. This is primarily because to the project’s emphasis on branding and storytelling — who wouldn’t want to be a part of a universe of 6,969 cats who exist just to hang out, chill, and vibe on the Solana blockchain?
Fearless Bulls
There is no shortage of business creativity when it comes to Solana NFTs, and Fearless Bulls Club is reimagining jpeg utility from the ground up. If you are a holder, your NFT serves as a ticket into an exclusive DAO community, allowing you to profit from the Bullish Growth Finance, which receives 70% of mint earnings and is currently using them to fund marketing initiatives, brand development, and commercial opportunities for the project. Additionally, the initiative is proposing an IDO (through which holders will be able to steak – pun intended – their bulls) and other interesting advances in the future of e-commerce.
Enviro
Due to the absence of gas taxes, Solana enables the construction of some extremely innovative projects. Enviro (owned by Moduluc) is one of them and is currently developing a photorealistic metaverse to which Enviro Pass subscribers will have access. At the moment, the project is focused on MWS – Moduluc Web Services – a protocol that enables the interchange of cloud-based rendering services. Enviro owners may generate passive revenue by renting out their digital real estate and GPU.
Hawksight
Day trading NFTs is nearly comical for Ethereum NFT holders Because gas fees motivate owners to hodl like there’s no tomorrow. However, because Solana has near-zero transaction costs, holders may immediately sell their jpegs. That implies that owners of Solana NFTs require tools that will assist them in making the most advantageous deals possible. Hawksight comes into play. If you possess a Debonair Degen Hawk, you have access to AI-driven trading signals and NFT social signals, NFT staking incentives, $HAWK rarity-based awards, and HawkDAO and income sharing.
Thugbirdz
It’s nearly difficult to think about Solana OG NFT projects without thinking of Thugbirdz. ThugDAO is currently managing this collection of 3,333-pixel birds with unique qualities depending on shades, face tattoos, kinds, earrings, caps, and smokes. Thugbirdz is definitely one to keep an eye on, since the DAO has some intriguing new initiatives planned for the next months. Additionally, holders include Anatoly Yakovenko (creator of Solana) and Wiz Khalifa.
Catalina Whale Mixer
The Catalina Whale Mixer is a global entertainment concept developed by Web3 for “all Whales; in life, business, and culture.” It was established for individuals who refuse to live under the constraints imposed by others, who take chances, work hard, party hard, and enjoy life fully.” The creators have lofty goals for the project and have accomplished a great deal in just three months. They are in discussions to create an animated programme centred on the world of Whales. Additionally, the series will feature characters drawn from the Catalina Whales Genesis Collection. You may learn more about all of the forthcoming initiatives by visiting this page.
Mindfolk
Mindfolk is a one-of-a-kind collection of 777 PFPs inspired by exquisite artwork and complex narratives. Deviating from the usual of thousand-plus collecting figures has undoubtedly benefited Mindfolk — at the time of writing, the floor stood at 99 SOL. Furthermore, holders receive access to a private community and token. Depending on which of the seven legendary elders you possess — a carpenter, an unskilled lumberjack, a trained lumberjack, or one of the seven legendary elders – you receive a variable rate on the project’s utility token, $WOOD. This token permits you to construct your own cottage or boat within the Mindfolk realm.
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