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Sales of Solana (SOL) based NFT Collection ‘ABC’ Skyrockets, Beating the Bored Apes

Cryptocurrency Sep 08, 2022 12:02PM ET
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© Reuters. Sales of Solana (SOL) based NFT Collection ‘ABC’ Skyrockets, Beating the Bored Apes
 
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Solana-based NFT collection ‘ABC’ is the most traded collection in the past 24 hours, beating the Ethereum-based Otherdeed, and Bored Ape Yacht Club, which are listing second and third.

According to the cryptoslam.io, ‘ABC’ collection in a week jumped from the 9th position to first. At the time of writing, the total sales of the collection are $2,139,047, and it is 94.11% increase in the past 24 hours.

Mysterious NFT Collection

ABC or Abracadabra NFT collection consists of 10K immutable NFTs. The description states that the collection is “made to remind you of how fun things were when we were kids, before growing up – let’s never stop having fun!”

This collection caught the community’s attention for its unique approach. The creator, who uses the nickname HGE.SOL, stated that there are 0% royalties and no official rarity. Also, the NFT creator does not use Discord, Twitter (NYSE:TWTR), launchpad, minting, or bots.

Citing the tweet, the author not only doesn’t have a team behind the NFT project but doesn’t even call it a ‘project,’ and tried to discourage from buying into it. Despite that, the collection kicked off, with a huge support from the community.

HGE.SOL is an NFT collector and a big whale, holding many NFTs throughout the Solana and Ethereum Networks.

To continue with the mystery of the collection, HGE.SOL made a quest on the Twitter account, sharing the image that the community figured out quite quickly. The ABC collection introduced the HadeSwap platform – an Automated Market Maker (AMM) for NFTs – that allows to the creation of NFT liquidity pools.

Solana blockchain remains 2nd choice for NFTs, after Ethereum. 3rd comes Polygon. According to the cryptoslam.io data, NFT sales volume during the past 24 hours on the Ethereum blockchain increased by 29.27%, on Solana by 14.29%, while Polygon dropped by 50%.

On the Flipside

Solana’s network has experienced a variety of issues in recent months, including attacks, congestion, and stoppages, all of which have hampered the performance of its blockchain.

Why You Should Care

Solana (SOL) is the second largest blockchain for NFTs. Solana has made itself a favorite among NFT projects because it offers far lower carbon costs, and gas fees than Ethereum.

Read more about challenges Solana (SOL) is facing:

Number of Solana (SOL) Transactions Approaches 100 Billion Despite The Rough 2022

Solana CEO Says Network Outages Have Been The ‘Curse’ Of Low-Cost Transactions

Continue reading on DailyCoin

Sales of Solana (SOL) based NFT Collection ‘ABC’ Skyrockets, Beating the Bored Apes
 

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