Investment firm buys Solana-issued NFT for $1.1 million

Moonrock Capital, a blockchain-focused investment and consulting firm, has acquired an NFT issued on the Solana network from the Degenerate Ape Academy collection for 5,980 SOL ($1.1 million at the time of the deal).

Moonrock Capital just acquired the 13th rarest @DegenApeAcademy NFT for 5980 $SOL ($1,109,170.40) pic.twitter.com/STkwJetRl1

— Moonrock Capital (@MoonrockCapital) September 11, 2021

The firm purchased the Degen Ape #7225 token — one of the rarest NFTs in the collection, according to HowRare.is. The Solana-based non-fungible token was sold for more than a million dollars for the first time.

In August, Ape #1674 was bought for 7,000 SOL, though at that time the cryptocurrency price was lower — the token was valued at $607,390.

Degen Ape #1674 bought for 7000 SOL ($607390, 186.0ETH) 🚀https://t.co/uCmScY7Jl2 rank: 19 ✨#DegenApeAcademy #Solana #SolanaSummer pic.twitter.com/paRwWT8Vp6

— Degen Ape Bot (@DegenApeBot) August 28, 2021

Moonrock Capital also bought a rare NFT from the SolPunk set — a Solana version of the Ethereum-based CryptoPunk collection. The company paid 1,388 SOL (~$260,000 at the time of the deal).

Moonrock Capital just acquired the 18th rarest @PunksOnSolana NFT for 1388 $SOL ($257,446.24) pic.twitter.com/ex0dl64gCk

— Moonrock Capital (@MoonrockCapital) September 11, 2021

According to Solanalysis, the aggregate market value of all Solana NFTs issued on the blockchain over the past 24 hours rose 14%, topping $610 million. Over the last seven days, users completed nearly $49 million in deals with these tokens.

Ethereum remains the leader in the NFT space. In August, turnover of the OpenSea NFT marketplace, focused on non-fungible tokens, exceeded $3 billion. For the partial September period, the marketplace’s trading volume reached $1.23 billion — the total market figure stood at $1.26 billion, according to The Block.

OpenSea’s activity on the NFT marketplace shows the platform exceeded $3 billion in August. Ethereum remains the leader in the NFT space. In August, turnover of the OpenSea NFT marketplace, focused on non-fungible tokens, exceeded $3 billion. For the partial September period, the marketplace’s trading volume reached $1.23 billion — the total market figure stood at $1.26 billion, according to The Block.

Earlier in September, developers integrated decentralized streaming platform Audius with the Phantom crypto wallet on the Solana blockchain.