Solana’s Okay Bears NFT collection generated $18 million in trade volume in its first day of activity, topping the numbers of all Ethereum-based NFT projects in doing so.
The 10,000 asset collection of PFP unique avatars launched yesterday on Magic Eden at a mint price of 1.5 SOL a piece (around $145). With the help of OpenSea’s onboarding of Solana, secondary markets sales became rampant, sending the price of the collection soaring and generating millions worth of trading volume.
OpenSea data reported that the collection generated 187,543 SOL (around $18.4 million) in sales in its first 24 hours, however at the time of writing, this figure has risen to 237k SOL.
In comparison to other notable NFT launches, Gary Vee’s VeeFriends V2 generated $13.1 million trading volume in its first 24 hours of trade, while Yuga Lab’s Meebits and Imaginary Ones saw trading volume of $11.9 million and $10.1 million respectively (all of which being on the more-popular Ethereum blockchain).
Okay Bear’s record-breaking mint appears to be the first time that a Solana NFT project has topped individual projects on the Ethereum blockchain (in terms of 24-hour trading volume). With a huge contribution from the sale, Solana NFT trading volume increased 216% over the past 24 hours to $29.1 million.