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Solana NFT Underperforms on OpenSea’s New Launchpad

NFT

thenewscrypto.com 22 July 2022 13:35, UTC
  
Reading time: ~2 m

  • Zoonies is an alien-themed NFT collection existing on Solana.
  • Even after a day, this Solana NFT has not attained the “sold out” phase.

OpenSea has brought out a new launchpad capability for creating new Solana NFT projects in an apparent effort to match Magic Eden’s feature set. The major NFT market’s maiden drop on the launchpad, on the other hand, has been far from a scorching triumph.

It was Zoonies, an alien-themed NFT profile image project on OpenSea’s new launchpad that was the first to make use of this functionality, which launched yesterday. Magic Eden and the gaming-centric Solana marketplace Fractal both offer a launchpad that allows collectors to mint (i.e. produce, buy, and sell) NFTs during main sales.

Rough Start For This Solana NFT

In spite of this, the Zoonies mint has yet to sell out on OpenSea after more than a day of operation. Fewer than 5,000 of the 8,888 total Solana NFTs have been issued so far. On Wednesday, the whitelist sale started at 12 p.m. ET, and the public sale began at 7 p.m. ET.

On OpenSea’s secondary market, where the lowest available goods in the collection are priced as low as 1.97 SOL (approximately $86), some NFTs that have been sold are now listed below the 2.5 SOL ($109) public mint price.

It’s difficult to draw any comparisons between Zoonies’ slow start and other Solana NFT debuts on OpenSea since none have yet occurred. 

Projects like Okay Bears and Trippin’ Ape Tribe have had quick sellouts and strong secondary market movement in recent months amid increased demand in the Solana NFT sector. At times the amount of trade in the Solana NFT area even eclipsed that on Ethereum. In order to get the “sold out” tag without having to wait a long time, not every project is a success right away.


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