New NFT collections appear on the crypto market every day, but most of them fail. However, some projects go straight up and increase extremely in value after the “minting” phase. This might happen with the new NFT collection called “Great Goats”. The Mint price was 2.75 SOL and availability was limited to 11,111 pieces. Currently, the so-called floor price, the lowest price of an NFT of the collection, is 6.9 SOL on Opensea. What are Great Goats NFT?
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What is Solana?
Solana is a blockchain that is decentralized. It’s designed to make scalable, user-friendly apps easier. SOL is Solana’s native cryptocurrency. In recent days, the SOL has gotten a lot of attention, especially with the current crypto surge. SOL functions in the same way as Ethereum’s ETH does. The sole distinction is that SOL holders stake the token in the PoS consensus process to validate transactions. Users can also participate in governance procedures, receive incentives, and pay gas fees. Solana is a single-chain, delegated Proof-of-Stake, and uses Cloudbreak, a shared log that blocks transaction history from using too much computer space.
What is Great Goats NFT?
Great Goats is an NFT collection on the Solana blockchain. The collection consists of 11,111 pieces and was sold at a mint price of SOL 2.75 per NFT. Thus, the developers of Great Goats have already been able to generate around 1.33 million dollars. If you own an NFT from the Great Goats collection, you can also stake those NFTs. So you can collect the $GOAT. This staking feature allows holders to generate passive income.
Why invest in Great Goats?
Great Goats was founded on the Solana blockchain, which is usually rather bad. Although Solana is a very fast blockchain, it often fails, which is why you should be careful. People believe less and less in Solana, which is why the project could fail in the future. If Solana fails, the whole ecosystem around Solana will fail as well. But just because the NFT collection is on the Solana blockchain doesn’t mean this project won’t make it. Solana hasn’t failed yet and the Solana developers could still improve the project. Here are a few points why Great Goats could have a positive development:
- Wide Reach – Great Goats has around 440,000 followers on Twitter. There are around 200,000 members on their Discord server. Compared to other NFT projects, they have a lot of Twitter followers.
- NFTs have a benefit – Owning at least one Great Goats NFT can generate passive income, which is guaranteed to be of interest to NFT investors.
- Low Selling Pressure – Because NFTs have utility, people will think twice about selling a Great Goats NFT or not.
- Highest Volume on Opensea – Great Goats currently have the highest volume on Opensea.
Could Great Goats replace Bored Ape Yacht Club?
Our personal opinion is that Great Goats will not replace Bored Ape Yacht Club. After all, a majority of all NFT transactions take place on the Ethereum blockchain, which is why it will be difficult for projects on Solana to catch on. It could be that Great Goats on the Solana blockchain will be one of the most expensive projects, but don’t assume too much. The project was published on 06/05/2022, which is why it is not old and a lot can still happen.
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Source: https://cryptoticker.io/en/meet-bayc-competitor-on-solana-great-goats-nft/