Solana-based NFT SolMonkey Sold For a Whopping $2 Million Value | Most Expensive of its Kind Right Now

SolMonkey was the latest Solana-based non-fungible token to be sold at a very expensive price.

Recently, the rare digital art #1355 is the current priciest NFT under the blockchain. It was sold for $2 million or 13,027 SOL.

SolMonkey Breaks Barriers as Most Expensive Solana NFT

Earlier this month, The Block Crypto reported that the SolMonkey was only sitting at more than $1 million value three weeks ago. Some people doubt Ethereum blockchain's dominance in the market since many NFTs are struggling to keep up there.

However, the #1355 Solana Monkey, which depicts a skeletal monkey donning a colorful crown, has been bought for $2 million. In the collection, it was said to be the most unique NFT.

It's interesting to know that the value of NFT could either rise or fall like stocks.

At the time of writing, the Solana Monkey Business (SMB) collections could go at an average price of 417.8 SOL, according to data from Solanalysis.

For the past 24 hours, there is a -13.4% for Solana. Its floor price is currently sitting at 317 SOL.

Solana has truly defied the odds in the world of NFTs since the most notable collections, such as CryptoPunks and Bored Ape Yacht Club are often at the top of the blockchain.

The SolMonkeys manage to enter the elite lineup of digital NFTs with the most massive price tags, Hype Beast wrote in its report on Sunday, Oct.3.

Important Things to Consider in Investing in Solana

Crypto Hubk has an interesting article about Solana Monkey and the blockchain itself.

According to the site, one factor that aspiring Solana investors should consider is the gas fee in Ethereum. This crucial factor could dictate if the user can have access to a specific NFT.

Another significant thing to know when dealing with the Solana blockchain is the transaction speed. A smooth transaction can boost user's satisfaction and experience.

The source also believed that this year would be an ideal time for SOL's growth.

Late in August, Solana has surprisingly jumped to the list of top 10 cryptocurrencies. Its success was attributed to the growing number of NFT projects.

During the peak of SOL's popularity, ADA and Hex also rose to the ranks of the top-rated virtual currencies. Meanwhile, DOT which once belonged to the list has faced a significant drop at that time.

NFT Artists Who Collected Millions From Selling Their Arts

If you are already familiar with the NFT craze, you might know the people behind the digital arts. In August, we reported the top-selling NFT artists so far this 2021.

The exclusive list of stars includes Beeple, Trevor Jones, Fewocious, PAK, and Mad Dog Jones.

As we go along this month, we will update the list for the current candidates.

Related Article: Top 5 Most Popular NFT Collections As Of September 2021: From CryptoPunks to Meebits

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Written by Joseph Henry