BONKz NFT Collection Now Live on Solana Despite $BONK Being Down by Almost 80% Since Peak
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Editing by Nathaniel Cajuday
- Along with the popular BONK Inu meme token, which was launched on the Christmas season, the BONKz NFT collection is now live on the NFT marketplace of Solana, Magic Eden.
- The collection was sold out four hours after its release. And now that the NFT collection is on the secondary market, the price of each NFT has skyrocketed to almost 900% of the original price.
- According to the team behind the project, 100% of the 165 billion BONK used to mint the collection was burned to reduce the overall token supply, which was about $255,000.
After the launch of the BONK Inu meme token, the Solana ecosystem is now hyping up a new variant—the BONKz non-fungible token (NFT) collection. While the collection was surging up in value, its token counterpart is currently plunging and is now down by 78.9% from its peak.
“Not hype. A movement.”
The BONKz NFT is a 15,000 PFP collection inspired by the dog-themed meme token and was co-created by the contributors of BONK inu; it was released last Wednesday, January 11, and minted in Solana’s NFT marketplace Magic Eden.
According to the creators, the collection was already sold out less than four hours after it was released, and 100% of the 165 billion BONK used to mint the collection was burned to reduce the overall token supply, which was about $255,000.
Originally, a BONKz PFP could be minted for 16,250,000 BONK (around $25). But now that it is sold out, the minted NFTs are now selling way higher on the secondary market than their starting price.
As of this writing, the collection’s current secondary market floor price is 14.39 SOL ($240), representing an astonishing 860% increase, with a total trading volume of around 160,700 SOL ($2.7 million)
BONK Token Plunge
Despite the launch of the BONKz collection, which also utilized the token, as well as its good start during its release, the token’s value has been going down continuously. In fact, its price has been down by 81.5% since its all-time high on January 5, 2023. As of this writing, $BONK is trading at $0.000000909859.
BONK was launched on the Solana blockchain last December. It was a meme coin modeled after the popular dog-themed token Shiba Inu (SHIB), 24 hours after its launch, the price of this coin went up by 150% and continued to have a good performance in the first week of January.
Feature Image from CoinEdition
This article is published on BitPinas: BONKz NFT Collection Now Live on Solana Despite $BONK Being Down by Almost 80% Since Peak
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