Solana and the Solana ecosystem are constantly growing and moving forward. To help you not miss any news & movements of the ecosystem in the last 7 days, here is your Solana Weekly Recap.
Table of Contents
- Solana Highlight On-Chain data.
- Y00t and ABC Collections revived the NFT market on Solana.
- Dust Labs raised a seed round of $7M to build out the $DUST ecosystem.
- GoatSwap – The first AMM NFT on Solana.
Despite the recent problems relative to the Solana network, the NFT market has always been the bright spot that makes Solana stand out. Let’s take a look at some key information from the big projects below:
Solana Highlight On-chain Data
NFTs Season is coming back to Solana
In the context of trading volume on OpenSea plummeting for nearly a month, on the contrary, NFTs trading volume on Solana bounced back after 2 months of dismal.
According to data from Nansen, the trading volume of NFT collection transactions on Solana has increased again in the last 2 weeks.
Contributing to this comeback is the presence of new NFT Collections such as yOOt (2nd product of DustLabs after DeGods), ABC (NFTs Collection with simple drawings) or Acid Monkeys, etc. Here are the list of new listing NFTs by Highest Volume on Solana in the last 7D.
A few more striking numbers on the last seven days of NFTs trading market share
Currently, more than 40% of the market share falls into 3 collections namely y00t, DeGods, and ABC. Especially “The y00ts” – the second NFT collection of Dust Lab has dominated the market share of Volume after only 2 days of the launch!
Dust Labs raised a seed round of $7M to build out the $DUST ecosystem.
Besides NFTs, the highlight of the past week was on the topic of raising funds when a series of projects on Solana announced their fundraising information.
The first is the Dust Lab – the owner company of two collections that are monopolizing the NFTs collection transaction market share, y00t, and DeGods.
Dust Labs has raised a seed round of $7M led by major investment funds of the Solana ecosystem such as Solana Ventures, FTX Ventures, and Jump Crypto. Besides that, Magic Eden recently opened its own investment fund and Dust Labs is one of the first projects in its portfolio.
Moreover, two NFTs collections of Dust labs, @DeGodsNFT & @y00t_nft, are closely tied to the use case of the $DUST token. With this investment, it is certain that $DUST ecosystem (Dust Labs) will be the biggest audience for the $APE ecosystem on Ethereum.
Other Notable Fundraising:
- Credix Finance whose goal is to build the future of global credit markets raised $11.25M USD Series A, led by Parafi Capital and Motive Partners.
- Clockwork – a decentralized automation network for Solana, has raised a $4M seed round of funding co-led by Asymmetric and Multicoincap with participation from Solana Ventures.
GoatSwap – The First NFT AMM on Solana
After the success of SudoSwap – AMM solution for high-value NFT on Ethereum, the Solana ecosystem also appeared as a similar project with growth potential like SudoSwap is GoatSwap.
Talking about this NFT AMM solution, SudoSwap helps to expand liquidity for high-value NFTs assets traded with the lowest slippage, while also contributing to the development of the NFT lending niche, which has been stagnant due to data. whether the price is elusive of the current NFTs.
In addition, Sudoswap has taken 20% market share from Opensea in 2 months proving the innovative model of NFT exchange.
Additional Notable Events
- Trust Wallet integrated the Solana Name Service
- Coinbase Cloud launched Solana Archival Nodes to empower the Solana developer community
- Phantom wallet has launched Explore – a curated experience for its mobile dapp browser!