The world is being ravaged by the non-fungible token (NFT) industry. Digital tokens have been around for a while, but their popularity exploded in March after artist Beeple’s piece, Everydays: The First 5000 Days, was sold for a whopping $69 million.
Solana’s NFT ecosystem is thriving, and it has emerged as Ethereum’s most fierce opponent in terms of NFT market share.
Solanart, Solana’s largest non-fungible token marketplace, is boosting SOL on-chain activity with NFTs.
Moonrock Capital, a London-based Blockchain advisory and investment partnership firm, recently paid $1.1 million for one of the Degenerate Ape NFT collections from the Degenerate Ape Academy NFT collection.
The transaction was made on NFT marketplace Solanart, and it was the first sale on the Solana blockchain to cross the $1 million mark. Other Degenerate Ape NFTs in the collection have sold for a total of $1.7 million, according to a Decrypt article.
On Solana, there have been earlier sales for amounts that would now be worth more than a million dollars, such as Degen Ape #1674, which sold for 7,000 SOL.
However, the SOL token’s value at the time was insufficient to make it a million-dollar transaction, therefore this looks to be the first sale worth more than a million dollars at the time of purchase.