NFTs have taken the crypto world by storm over the course of the last year. If you are even slightly a cryptocurrency enthusiast you have probably heard about NFT projects like Bored Ape Yacht Club, Crypto Punks, etc. Some of these NFTs have sold for hundreds of thousands of dollars.
However, those NFTs you have heard about are usually Ethereum NFTs that are sold on exchanges such as OpenSea which runs on the Ethereum blockchain. There are other kinds of NFTs that are based on the Solana Blockchain instead. If you are interested in finding out what the most popular Solana NFTs are, then you should continue reading the information below.
Solana Monkey Business
The first Solana NFT you should look out for is Monkey Business. This NFT collection consists of 5,000 pieces. The best way to describe this is to think about a combination of the Bored Ape Yacth Club and Crypto Punks. You are probably thinking why would anyone buy an NFT project that looks similar to two other highly successful projects?
The truth is that both Bored Ape Yacht Club and Crypto Punks are extremely expensive because of how popular they are. The floor price for a Bored Ape is around 100 ETH which at the current price of Ethereum translates to about $256,000. Crypto punks will cost you around $100,000 for starters.
Meanwhile, the floor price for a Solana Monkey Business NFT is only 215 Solana which is around $16,000. It is still a pretty expensive NFT, but it is substantially more affordable than either of these Ethereum based NFTs.
Many people believe that it can be valuable to invest in a Solana NFT such as this one because it is considered to be one of the pioneers of Solana NFTs. Therefore, if you believe that Solana will grow in the future and maybe even pass Ethereum, then you might want to consider investing in an NFT like this one.
Degenerate Ape Academy
By now you are probably thinking why are all of the Solana NFTs themed around monkeys and are so similar to Bored Ape Yacth club. Regardless of whether you think it is smart to invest in a project that attempts to copy another successful project or not, you should not write off the Degenerate Ape Academy just yet.
These Solana NFTs are part of a collection of 10,000 which are different based on the 7 traits which include: head, body/clothing, fur/skin, background, eyewear, and mouth. All of the 10,000 Degenerate Ape Acadmy NFTs will have a different combination of the 137 possible traits.
You are probably wondering why this project is valuable and why you should keep an eye on it. The answer to that question is quite simple. This Solana NFT project is valuable because it made history.
Despite only being released in August of 2021, the Degenerate Ape Academy NFT project became the first Solana based NFT to become a million dollar collection. The current floor price for a Degenerate Ape is around 60 Solana or $4,500.
Most people will tell you whenever considering whether an NFT project is a good investment or not to look at the value of the project. One thing that this NFT project has that no other Solana NFT will be albe to have is the historic value of being the first million dollar collection on the Solana Blockchain.
This is a very interesting NFT project becuase it is different from all of the other animal projects that are just meant to be cool and goofy. This project is also unique because it only has a collection consisting of 777 pieces as opposed to having a couple of thousands like most NFT collections.
A cool thing about Mindfolk is that once you are an owner of one you get access to $WOOD which is a crypto token tied to this NFT project which allows you to passively earn cryptocurrency just for being a holder. The amount of $WOOD you receive depends on the type of NFT you have.
For example, untrained lumberjacks receive less $WOOD than a trained lumberjack does. The whole theme for this NFT project is wood architecture and infrastructure. The different characters in this project are said to be lumberjacks and carpenters that got tired of their overpopulated land in search of a new area to build in.
In order to passively earn $WOOD you have to delist your Mindfolk NFT from the exchange and stake it for a specified amount of time. During this time your character will either build a cabin or a boat in the Coppice Kingdom. Depending on the skill level of your character it will take them more or less time to finish their project. This is important because you cannot sell your Mindfolk characters while they are in the proccess of finishing a project.
To make the Mindfolk ecosystem even more interesting, there is a maximum number of 333 cabins that can be built in the Coppice Kingdom. There is no limit of how many cabins each user can build which encourages people to hold on to their characters for an extended amount of time.
Once a Cabin is built, it can be traded on an exchange as a part of its own collection. When you think about it, you will not only earn passive $WOOD by staking your Mindfolk, but it will also get you another NFT that you can hold onto or sell.
There is so much more you can learn about the Mindfolk collection that it is very easy to fall down the rabbit hole of this project. It is a very interesting project that is worth taking a look into.
It is no secret that NFTs are becoming more and more relevant each day. The same can be said about Solana based NFTs. Just this last month, OpenSea, the largest NFT exchange announced that they will begin hosting and trading Solana NFTs which will only increase the popularity and the price of these and many other Solana NFTS.
You should always do your own research when it comes to investing in any NFT project, but if you were looking to invest in some projects before they gain popularity, then you should certainly consider some Solana NFTs.