The mania around Non-Fungible Tokens (NFT) has only seen a whirlwind spike over the past year, with sales crossing $12.7 billion. Such sales figures have made it the best-performing cryptocurrency sector. In fact, over 73,000 NFT sales worth a whopping $271.5 million have been made in just the past week alone. With an added boost from metaverse activity and celebrity indulgence, the booming NFT market is being supported by an array of different blockchain platforms hosting these tokens.
Among those who jumped on the ‘digital ownership’ bandwagon has been Solana, which hosts a wide range of marketplaces and original NFT collections. The platform is even launching a $5 million fund this year to onboard creators and their fans into its ecosystem. Solana’s dedication towards this segment of the cryptocurrency industry can be linked to the bullish outlook its team has for NFTs.
In a recent interview with Business Insider, Solana co-founder Anatoly Yakovenko remarked that NFTs are in fact the early prototypes of how social media networks will look in the future.