In a latest tweet, distinguished Chinese language reporter Colin Wu spotlighted record-breaking developments surrounding Solana-based non-fungible tokens (NFT). Wu shared that in August, Solana’s ultra-low-cost Compressed NFTs noticed a minting quantity that exceeded 15.6 million.
In August, the minting quantity of Solana’s ultra-low-cost Compressed NFT exceeded 15.6 million, setting a document excessive and incurring solely 82 SOL charges. The variety of Solana compressed NFTs has approached 78 million, surpassing non-compressed NFTs, accounting for 55.62% of the overall,…
— Wu Blockchain (@WuBlockchain) September 3, 2023
The Chinese language reporter famous that the determine represents the ultra-low-cost Compressed NFTs’ document excessive. Furthermore, Wu disclosed that the NFTs attained the exceptional feat with a mere 82 SOL in charges. The charged charges denote a greenback worth of $1,596, with SOL buying and selling at $19.47.
It’s price mentioning that Solana’s ultra-low-cost Compressed NFT is a brand new characteristic that reduces the price of minting NFTs on the Solana blockchain. It compresses the information saved on-chain for every NFT.
Moreover, Wu revealed that the overall variety of the Solana compressed NFTs surged to almost 78 million. This determine made it overtake its non-compressed counterparts. Quoting knowledge from a monitoring platform, Wu hinted that the compressed NFTs now accounted for 55.62% of the overall NFTs on Solana’s community.
By way of month-to-month gross sales, in addition they contributed considerably. Specifically, the compressed NFTs made up 21.5% of Solana NFTs’ whole gross sales quantity for August. In the meantime, this progress comes amid the U.S. regulator’s inaugural enforcement transfer on non-fungible tokens.
Final Monday, U.S. regulators took motion in opposition to a distinguished Web3 firm for its issuance of NFTs. The agency in query is Influence Concept, a California-based media firm. The enterprise reportedly generated practically $30 million by promoting three tiers of NFT choices.
In accordance with the U.S. SEC, NFT transactions are unlawful as they allegedly constituted unregistered securities choices. The transfer marked the SEC’s first actions concentrating on the NFT market.
