Solana NFT Trading Volume Surges 170% Post y00ts Launch

• The bulk of the commerce is centered on y00ts NFT collection.
• There are almost 15,000 individual profile pictures in the y00ts archive.

The original introduction of the popular profile picture (PFP) project, y00ts, in September contributed to a surge in NFT sales on the Solana blockchain that dropped by half in October. However, if today’s trade is any indicator, November might witness a return to intense activity with the delayed presentation of the y00ts artwork.

Trading volume for NFTs generated on Solana has surged 170% over the last 24 hours compared to the prior period, according to statistics from Tiexo, up to around 229,000 SOL throughout the market. That’s more than $7.50 million.

Revival of the Sluggish Momentum

The bulk of that commerce is centered on y00ts, the Solana-based successor to the widely-used DeGods project. There are almost 15,000 individual profile pictures in the y00ts archive, each with its own unique blend of aesthetic characteristics. After a high-profile allowlist campaign in early September, the project released its NFTs under the name y00ts mint t00bs.

In return for the genuine PFP NFT, each t00b NFT may be burnt (or otherwise permanently destroyed). This was supposed to begin shortly after the September mint, but the team behind it, led by the alias “DeGods” creator “Frank,” scrapped all of the previous artwork and started from scratch, delaying the project by about two months.

After much anticipation, the method to exchange t00bs for y00ts NFTs was made available this morning, unveiling the artwork and causing secondary trade activity to skyrocket. Both the unrevealed t00bs and y00ts avatars are witnessing increasing demand right now, according to statistics gathered by the top Solana marketplace, Magic Eden.

Recommended For You:

Will Solana Web3 Phone Able to Battle With Google & Apple?