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- Degenerate Apes Academy is the NFT collection persisting on Solana blockchain, with current floor price of 81 SOL.
- There are a total of 10,000 Three dimensional apes, having distinct qualities with respect to their attire, expressions etc.
- As of now, Solana was bullish by 25% during the past 7 days, exchanging hands at $40.2 at the time of writing.
It’s Time For Degen Apes Now
Degenerate Apes Academy is a popular NFT collection existing on Solana blockchain, with a floor value of 65 SOL at the time of publishing. The question we should be asking is, whether the NFT collection is underpriced at this value?
Solana did a hammer throw recently, when it plunged to $46.1 from a June low of $25.8, currently exchanging hands at $40.2 at the time of publishing, uptrending by 25% during the past 7 days.
The climb by Solana was also pushed by Anatoly Yakovenko, the creator of Solana, who utilizes Degenerate Apes Academy NFT as a display picture on social media platform Twitter.
Few Solana enthusiasts think that various NFT channels persisting on the blockchain of Solana are too low in value in contrast with their Ethereum contenders.
As per the current floor price, one Degenerate Apes Academy can be acquired by paying 65 Solana ($2,613). Meanwhile, the well liked Bored Apes Yacht Club, based on Ethereum blockchain, had a floor price of 88 ETH, which is like, over 44 times more than the floor value of Degen Apes.
Will Saga, The Solana Mobile Phone, Boost The NFT Collections On Solana?
Recently, Solana Labs made the announcement regarding their Solana smartphone SAGA. Most fascinating thing about this smartphone is that, it is based on the next iteration of the internet we currently know as Web3.
According to Anatoly Yakovenko, Solana CEO, this initiative is focus towards making the implementation of virtual asset services as well as products simpler, enabling the folks to make crypto transactions seamlessly via the mobile device in contrast to a laptop or similar device.
Additionally, Solana CEO also unveiled SMS or Solana Mobile Stack, a layer especially developed for Solana on a mobile device.
Sam Bankman Fried also stated at the event that “ Everything is going mobile,” which is exactly what we are witnessing here.
If Solana smartphone SAGA becomes successful in the market, the success might follow Degen Apes, and other NFT collections persisting on Solana blockchain, as a plethora of users might switch from Ethereum blockchain to Solana.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
