The MonkeDAOs ‘DaoJones’ NFT reaches a valuation of over $7 million, displaying the might of BridgeSplits NFT fractionalization.
Fractionalized NFTs Gain Traction
MonkeDAO’s first fractionalized NFT asset enabled by BridgeSplit has become one of the hottest NFT developments in the Solana ecosystem.
The NFT project fractionalized the official mascot, DAO Jones, and listed it on the Raydium Finance DEX on January 15. In the last 24 hours, the asset has witnessed significant traction with a trading volume of $417,081 and hit a market capitalization of over $7 million, as per data from CoinMarketCap. DAO Jones hit a high of $94.15 on the same day and currently exchanges hands in the $68 range, over 20% down from the high earlier in the day.
“As NFTs expand beyond art and collectibles into in-game assets, memberships, off-chain cash-flows, and more, it is imperative that they integrate smoothly into the wider DeFi ecosystem. This will give these assets access to the robust liquidity that they need and pave the way for the next wave of crypto adoption,” mentioned the official Medium blog post by BridgeSplit on Fractionalized NFTs.
The maximum supply of DAO Jones tokens is 100,000. Through fractionalized NFTs, the project aims to reduce the level of commitment that is usually assumed while purchasing an NFT. The owners of any of the fractionalized NFTs will also be able to choose to give token holders tiered ownership benefits like Discord access, IRL event passes, DAO membership by holding a certain percentage of the token’s supply, and so on.
What is Solana Monkey Business?
Solana Monkey Business is one of the most prominent NFT collections built on the Solana blockchain network. It is a collection of 5,000 unique randomly generated SolanaMonkeys stored on-chain. The monkey’s goal is supposed to be to “invade” the Solana blockchain, building a larger community, a community wallet, and a future voting system. The current floor price is 165 SOL, as per data from Magic Eden.
Find more about Solana Monkey Business here:
Source : solana.news
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