They Look Similar to Every Pixelated Collection on ETH, so What Makes Them So Valuable?
Solana Monkey Business is a collection of 5000 generated pfp monkeys. At a floor price of 185 SOL or USD ~$40k, the highest valued Solana collection is a good indicator of the NFT market as a whole. While still a huge investment for the average collector, the premier SOL collection pales in comparison to most blue-chip ETH collections.
There is just no volume flowing through other chains compared to Ethereum. Still seeing huge purchases, Solana Monkey Business is carrying the volume of this chain recently:
🙊 SMB #3250 SOLD for 1444.00 S◎L
📝 https://t.co/PHNE16ONp3 pic.twitter.com/oW5wFLQqdY
— SMB Sales Bot (@SMB_SalesBot) November 11, 2021
But Is This Still a Good Investment?
What sets these Monkeys apart from every other Ape stored on various blockchains?
Solana Monkey Business stores metadata on Arweave, one of the best-decentralized storage options available. Minting for 2 SOL on August 3rd of 2021, they have since seen a 9150% increase. Of course, no gas fees on Solana keep this a true 2 SOL mint.
Shortly after, celebrities like Steve Harvey started to change their pfp to their monkeys. The collection took off from there.
Yes, that is right anon. Steve Harvey is a SMB member now. pic.twitter.com/wKHgDN8X1I
— gluttony (@hogartisan) September 8, 2021
A Complicated Royalty System
The mechanics that set this collection apart from other collections on Solana are the system that gives 25 shareholders massive amounts of passive income.
Holders with the Monkings role on the SMB Discord are the ultimate Monkey collectors. These holders are ones with complete Gen1 collections, and receive the ultimate award for that achievement.
These Gen1 monkeys are available for auction on Space.SolanaMonkey.Business.
5% of the sales of the gen2 collection in perpetuity. That represents 20 $SOL/shareholder upon mint. The Shareholders and Creator then split 50% of the 5% royalties 50/50 thereafter.
A little confusing, let’s break down the take each shareholder would have seen to this point.
The total volume of the collection so far?
660k SOL. The 5% royalties would represent 33,000 $SOL. 50% is given to the creators, leaving 16,500 remaining for shareholders.
To this point, Shareholders have received 660 $SOL each.
Is This Actually Worth the Investment?
In order to complete the Gen1 Collection, you need to collect:
The last AstroMonkey Winning bid was 600 $SOL itself, more than the royalties the entire collection combined would have yielded.
Solana Monkey Business Gen2 monkeys are quite literally what they are. They do not give access to a royalty system or a token. They are a blue-chip pfp collection whose price is propped up by the community it gives you access to.
Gen1 collectors are betting on the future of Gen2, and Gen2 collectors are betting on their community catching on. Considering that Solana Monkey Business is far and away the most popular collection on Solana, think about buying one of these before the others. It really is no comparison:
Top 10 #Solana NFT Collections by Daily Volume (Nov 10) – Volume in #SOL
10. @SolanaMBB pic.twitter.com/kEj3b6JN47
— sols.watch (@SolsWatch) November 11, 2021
Only invest in this project if you think Solana NFTs are going to catch on. Based on daily volume, Solana Monkey Business seems to be the far and away premier collection on Solana. If you are a Solana maxi, then this is the best collection available for you at this moment.
Something to consider: Remember always to do your research, make your own decisions and invest in projects that interest you!
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Source : AltCoinBuzz