Solana-Based Bonkz NFTs are on fire amidst the crypto winter. But the price of BONK struggles.
Solana’s first dog coin- the Bonk token, has been making headlines since the beginning of the year. Bonk aims to save the day for Solana, and the community believes it is the project’s lifeline.
On Tuesday, in collaboration with the Bonk project, OMNI Creative announced Bonkz. The studio also said they would burn the Bonk raised from the NFT sale. Within hours of mint, the NFTs got sold out and the project burned over 165 million Bonk worth approximately $255,000.
Bonkz NFTs Pump Over 14X Within 24 Hours
The Bonkz NFTs have set the floor on fire. They were minted for around $25 and have a floor price of 22.8 SOL, roughly over $350 as of writing. That’s a 14 times price gain within 24 hours.
According to data from Magic Eden, the trading volume of Bonkz is 124,900 SOL, approximately over $1.9 million. 771 NFTs are listed in the marketplace. 6,099 unique wallets own the Bonkz NFTs
Magic Eden charges 4% royalties fees for transacting NFTs. Omni Creatives announced that 50% of all royalties would be used to buy and burn Bonk tokens.
Presently, the NFTs have a poster representing them; the artwork is yet to be revealed as a surprise.
Bonk Tokens are Down 69% in 6 Days
The Bonkz NFT sale has not affected the price of the Bonk tokens. Bonk made an all-time high on Jan. 5 at around 0.0000049499, presently trading at 0.0000015400. It is down nearly 69% within six days of making a new all-time high.
The way the Bonk price crashed, there is a possibility for the Bonkz NFT price to fall as well. The meme coins and meme NFTs are high-risk investments, mostly based on hype. Investors should always do their own research before investing in such risky assets.
The price of Solana has nearly doubled from the bottom of $8 during the last week of December. It is trading at $15.48 as of writing. Will Bonk token and Bonkz NFT save the Solana ecosystem?
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BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.