A Solana-based Token Sold For $2 Million, What’s Next For NFT? Metaplex CEO Speaks About Its Huge Potential

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Solana Monkey Business (SMB) recently sold an NFT for a record-breaking $2 million (£1.47 million), which at the time was equivalent to 13,027 SOL. The NFT (official tag ‘Solana Monkey #1355) became the most expensive Solana-based NFT available.

Just less than a month ago, the first Solana-based NFT sold for more than $1 million (£730,000).

This indicates that the Ethereum blockchain might be losing its supremacy in the cryptocurrency industry. 

Solana Monkey #1355, the most unusual non-fungible token in its collection, depicts a monkey in a skeletal body wearing a jewelled crown.

https://twitter.com/SMBSalesBot/status/1444003267667759143

According to Solanalysis, Solana’s monkeys are now striving for an average of 456 SOL. Solana’s pixelated monkeys have risen to the top five of the PFP power rankings, joining the Bored Ape Yacht Club, Ethereum’s Cool Cats, and CryptoPunks, among others.

Metaplex CEO Believed NFT Offer A Great Deal Beyond The Crypto Craze 

According to Metaplex CEO, Adam Jeffries, non-crypto users may also benefit from NFTs. He believes that seeing NFTs simply as an investment vehicle is a huge misunderstanding of their vast practical usefulness in the future.

Metaplex Studios recently announced the appointment of Adam Jeffries as CEO of a new organization created to assist in the onboarding of many artists onto its NFT platform.

He was chosen to lead the effort for developing the functionality of tools that would allow creators to easily run their NFT companies on the Solana-powered on-chain protocol for minting and auctioning NFTs.

According to him, the technology is “probably the most accessible tool” to attract non-crypto people into the emerging fintech industries right now.

NFT Gives More Choices To Artists & Fans To Connect 

NFTs have created a one-of-a-kind chance for consumers and artists to connect via ownership, which is critical when it comes to interactions between the two groups.

“It has now been shown that an NFT exists to link the creator and the user,” Jeffries said.

“In addition, NFTs offer artists a stronger feeling of self-governance in terms of revenues and content rights, while also generating a rising demand for the work from consumers,” he continued.

Metaplex is currently home to several community initiatives, including Degen Ape Academy, Audius, Aurory, Contrastive, Phantom Wallet, and FTX.

https://twitter.com/metaplex/status/1421305321864245248

What differentiates the Metaplex protocol from others, according to him, is that it is fully decentralized and is constantly creating new interfaces for users to engage with its open-source code.

“Metaplex Studios will offer the opportunity for anybody to build and completely customize their own markets,” he explained.

This feature may be done in a fully decentralized way and would offer complete control in contrast to the existing centralized exchanges. Hence, this enables users to quickly create a storefront with basic functionality such as minting and selling an NFT or to develop a secondary marketplace with a user-to-user resale market.

We Want To Hear From You

Do you agree that NFTs have their own charm? Share your thoughts with us in the comments below.

Read More:

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