Can Okay Bears Overthrow BAYC in Emerging NFTs Battle?
Ethereum-based non-fungible tokens have always dominated the NFT marketplace. Nevertheless, the previous days appeared to have dethroned the Ether-based NFTs. Surprisingly, Solana has facilitated that. Okay Bear, Solana-based NFT, sold out in…
Ethereum-based non-fungible tokens have always dominated the NFT marketplace. Nevertheless, the previous days appeared to have dethroned the Ether-based NFTs. Surprisingly, Solana has facilitated that.
Okay Bear, Solana-based NFT, sold out in its initial 24hrs of going live. While publishing this content, the NFT saw 147,161 trading volume, reflecting a 19.48% increase within the previous 24 hours.
Okay Bears saw 510.1K in trading volume with 115 SOL floor price within three days after the NFT listed on OpenSea. While writing these lines, the NFT boasted 1,356 sales, as the day’s trading volume stood at 6,259.09 Solana.
This context would likely remind investors about the Bored Ape Yacht Club NFTs. And, you may wonder whether Okay Bears will conquer BAYC in the coming future.
Here’s the Answer
The BAYC NFT recorded 960.197 trading volume on May 4, 2021, following its inception in April 2021. Moreover, MAYC launched on August 8, 2021, saw 1,148 trading volumes, with nearly 212 sales on September 6, 2021.
Comparing sales of ‘Apes’ to ‘bears’ can conclude that Bears are valuable to Solana as MAYC and BAYC are to the Ethereum network. Moreover, Dune Analytics’ data shows SOL’s daily volume on OpenSea has seen a significant spike after April 25, 2022. Also, OpenSea’s SOL daily NFT transactions displayed a remarkable growth after the Okay Bears non-fungible token collection launch.
Moreover, Santiment NFT data shows total NFT trade volume stood at 19,717 as of April 30, 2022, reflecting a drop compared to total sales on April 29, 2022. A price chart shows that April 26, 2022, saw a low trade volume at 46,923 before climbing to 58,494 on April 27, 2022, only to plunge again.
What the Future Holds
Creators shared plans after the Okay Bears non-fungible token sold out hours after launch. The Okay community tweeted that the founders unveiled plans for the coming twelve months. It could be wise to analyze Okay Bears NFT sales and speculate that Solana may be preparing to dominate the NFT space in the future.
Feel free to share your opinions in the comment section below.
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Author
Contributor to CryptoWalletMarket. Published May 1, 2022.
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Migrated from the original CryptoWalletMarket archive. Original URL: https://cryptowalletmarket.com/can-okay-bears-overthrow-bayc-in-emerging-nfts-battle/
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