An NFT from SolanaMonkeyBusiness, a collection of 5,000 NFTs minted on the Solana blockchain, has just sold an NFT for 13,027 SOL (about $2.1 million) – making it the most expensive Solana-based NFT to date.
The SolMonkey in question is #1355. according to the NFT rarity tool HowRare.Is, it is the rarest NFT in the collection, with a skeleton body (2.42% of SolMonkeys have this feature), an orange coat (1.06%) and a jewel-encrusted crown (0.02%).
The first Solana-based NFT to sell for more than $1 million happened three weeks ago, further proof that the ethereum blockchain is losing its dominance over NFTs.
The Block’s data dashboard shows that record high transaction fees have been plaguing the ethereum blockchain since May of this year.
These market conditions have pushed users to alternative blockchains such as SOLANA. its native token SOL experienced an all-time high in early August and surpassed a $1 billion market cap on Oct. 1.