Solana-based nonfungible tokens have reached a new milestone, hitting $5 billion in all-time sales volume in February.
In this week’s newsletter, read about Solana-based nonfungible tokens (NFTs) recovering sales volume after a four-month slump, find out about Yuga Labs’ new CEO, and check out how crypto investigator ZachXBT recovered stolen NFT proceeds. In other news, find a new metaverse is partnering with stablecoin-issuer Circle to add in-game wallets, and don’t forget our Nifty News roundup, featuring South Korea’s plans to consult United States Securities and Exchange Commission (SEC) Chair Gary Gensler on NFTs.
NFTs based on Solana have reached a new all-time sales volume milestone. On Feb. 23, NFT data tracker CryptoSlam showed that the all-time sales volume for Solana NFTs already exceeded $5 billion. In addition, the total number of NFT transactions on the blockchain has also reached around 43 million.
After a four-month slump, Solana NFTs picked up in October 2023, with a 192% jump in sales volume from $28 million to $82 million. The momentum continued through December 2023, when the chain recorded its second-highest monthly sales volume of $365 million.
