Degenerate Ape becomes Solana’s first million-dollar NFT
The sale of the Degenerate Ape is the first million-dollar nonfungible token (NFT) on the Solana ecosystem. This comes as NFTs pick up steam in various sectors of the globe and artists start unlocking their values.
Blockchain advisory firm Moonrock Capital revealed that it purchased one of the Degenerate Ape Academy NFTs for 5,980 SOL over the weekend. The NFT was worth approximately $1.1 million at the time of its sale.
The blockchain firm acquired Degen Ape #7225. This NFT is a scarred zombie version of an ape that has a halo, a gold tooth and a brain in its mouth. The Degenerate Ape NFT is the 13th rarest in the collection. Furthermore, Moonrock Capital added the 18th rarest SolPunk — a Solana-themed version of CryptoPunks to its collection. The SolPunk was worth 1,388 SOL ($260,000).
Solana now seventh in the market
Solana (SOL) has been one of the best performing cryptocurrencies in the market in recent weeks. Its performance saw its price rise above $200 last week but it has now dropped to the sub $150 level.It briefly overtook XRP to become the sixth-largest crypto by market cap but it is now occupying the seventh position, just ahead of Polkadot and Dogecoin.
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