Solana NFT Market Hits All-Time High With Mad Labs Launch

As the world of non-fungible tokens (NFTs) grows in popularity, the Solana NFT market hit an all-time high recently. On April 22, market sales reached an impressive 489,201 SOL, equivalent to approximately $10.124 billion. This all-time high was triggered by the launch of Backpack’s first xNFT series, Mad Labs.

NFT marketplace on Solana hits all-time high after Mad Labs launch

Source: Solanafloor

Mad Labs has taken the NFT world by storm, with $8.23 million in transaction volume in the past 24 hours alone. This impressive number puts Mad Labs at the top of the Solana NFT marketplace, surpassing other popular projects such as Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC).

The Mad Labs base price is also on the rise and is currently close to 65 SOL. This shows that the demand for these xNFTs is very high, with investors and collectors eager to acquire these unique digital assets.

For those new to xNFTs, they are a new type of NFT that, in addition to owning technical assets, gives holders access to various rewards, such as access to exclusive events or merchandise. Mad Labs is just one example of the growing popularity of xNFTs in the NFT market, and its success has certainly caught the attention of many in the industry.

Overall, the recent success of Mad Labs and record sales on the Solana NFT marketplace is a testament to the growing interest in NFTs and the potential they offer investors, collectors, and creators. It will be interesting to see how the market evolves and what new innovations and projects emerge in the coming months.

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