Assessing whether y00ts will carry Solana NFTs to the Moon

Assessing whether y00ts will carry Solana NFTs to the Moon

Delphi Digital The uproar has fueled up lately open who – which Solana Hit a new ATH of sorts. According to his tweet, Solana has recorded NFT volumes of 344K – an ATH number well above its previous all-time high in May. This significant increase may be attributed to y00 s NFTs.

Ergo, question – could the increased interest in Solana’s NFTs have a positive effect on its price?

Solana has been in the news for his growing influence in NFT space for some time now. However, after the y00ts NFT mint, NFT transactions on the Solana blockchain saw a massive rise.

Source: Delphi Digital

Stand apart from the crowd

The y00ts NFT project is the latest NFT project from the creators of Solana’s flagship group – DeGods. However, what makes this project unique is the property rights that the owners have.

In a traditional NFT project, the IP is usually owned by the owner of the NFT. What yOOts are trying to do is known as Creative Commons or CCO. It is an alternative method of licensing intellectual property that allows the owner’s assets to be held in the public domain.

This allows the yOO’s owner to develop sub-communities or organizations based on the NFTs they own, as well as monetize the NFTs they own through fan art and sub-DAOs.

However, the NFT market is not the only avenue in which Solana has dominated,

Solana has seen a 150% rise in social media and 170.94% in her social engagements over the past three months. In light of the growing popularity of the NFT ecosystem, it seems that Solana’s popularity will increase in the future as well.

Although there is a lot of criticism against Solana for its multiple downtimes, it seems that the developers are working hard to fix these downtime issues.

Consider this – there has been a significant spike in developer activity over the past week, which indicates that the Solana team has been working on upgrades and updates to improve the Solana system. However, the value of the SOL market has declined over the past seven days.

Source: Santiment

Advance with caution

Unfortunately, this is not the only reason investors are concerned. SOL’s volume is down -66.92% over the past week, and its market dominance has fallen by 4.92% in just over a month.

The massive drop in volume may be a red flag for investors looking to invest in SOL.

Source: messari

Solana has been heavily criticized in the past for its malfunctions. However, thanks to the new partnership With the helium lattice growing in NFT space, the tide could turn in Solana’s favor.

It remains to be seen whether these latest developments can have a positive impact on Solana.

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