SNEAK PEEK
Mad Lads, a Solana-based NFT, reaches a new floor price of 123 SOL or over $7,100.
In November, the collection’s value more than tripled, indicating rapid growth.
Mad Lads outperformed other NFTs with over $1.39 million in 24-hour sales.
The digital asset space is witnessing a remarkable surge in the value and popularity of Mad Lads, a Solana-based profile picture (PFP) NFT collection. Outperforming many leading NFT projects, Mad Lads has reached new heights in its floor price and sales volume.
As noted by Solana Floor data, Mad Lads’ entry price has recently experienced a significant increase. The collection’s floor price now stands at 123 SOL, equating to over $7,100. This marks a substantial rise, with the price more than tripling in November alone. On November 13, Decrypt reported the collection’s floor value at nearly $4,500 worth of SOL, highlighting a robust growth trajectory.
Regarding sales, Mad Lads is making waves in the secondary markets. Over the past 24 hours, sales have exceeded $1.39 million, according to CryptoSlam data. This volume surpasses other notable NFT projects, including the Fortune Founder’s Pass from Army of Fortune and the renowned Bored Ape Yacht Club on Ethereum. The latter registered approximately $881,000 in sales, while Solana’s Tensorians followed closely with about $810,000.
Several elements contribute to the increasing demand and value of Mad Lads. The Solana token has seen significant appreciation, rising from around $21 to a current value of $58, even touching $65 recently. This price increase has impacted the broader Solana NFT market, with sales topping $62 million in November, a steep rise from October’s $28 million.
Mad Lads distinguishes itself with unique attributes. Developed by startup Coral, the collection integrates with the Backpack app and its executable NFTs (xNFTs) standard, providing a range of experiences around tokenized assets. Coral’s upcoming crypto exchange, licensed in Dubai and led by former FTX general counsel Can Sun, has also added to the project’s appeal. Mad Lads NFT holders were given priority access to exchange signups and received PYTH tokens during the recent Pyth Network airdrop on Solana.
These factors, combined with the project’s innovative approach and exclusive holder benefits, fuel the increasing demand for Mad Lads NFTs.
Mad Lads’ success is not just a triumph for the project itself but also signifies a pivotal moment in the NFT sector, especially for Solana-based projects. Its performance against Ethereum’s Bored Ape Yacht Club, a long-time leader in the NFT market, suggests a shift in investor interest toward Solana’s ecosystem.
This shift could lead to increased competition and innovation within the NFT space as projects strive to offer unique benefits and experiences to their communities. As the NFT market continues to evolve, the success of collections like Mad Lads will likely inspire new developments and trends within this dynamic and ever-changing industry.
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