Will the new blockchain steal Solana’s thunder?
When it Rains for Solana…
It certainly has been a rough go for Solana and all other blockchains during this bear market. Though the Solana NFT market has done a bit better than Ethereum lately it still pales in comparison to what it was doing in late 2021. The recent situation regarding royalties has not helped things get any better as many in the space are frustrated and fed up.
Enter Aptos, the new blockchain with $350 million in VC funds and from developers that once worked for Facebook and the Diem project. The blockchain may have started with some not-so-happy revelations and complaints but things are going smoothly and it appears as if Aptos is already ready to make good on that “Solana killer” Nickname.
Aptos already has the Topaz NFT marketplace with a successful NFT project of Aptos Monkeys which is currently trading at a 24-hour volume that surpasses that of Ethereum and Solana. Simply put NFTs on Aptos are moving and making a profit. Currently Topaz has amassed $5.46 million in NFT trades since its launch just last week with $2.3 million of that being the Aptos Monkeys. The top collection on Ethereum right now is Cryptopunks trading at only $800K. In 24 hours Topaz had almost caught up with Solana with Topaz earning $1.71 million to Solana’s $1.8 million.
Data analytics from Dune suggest a downward trend for Solana marketplaces over the past several days, mostly Magic Eden which has seen a drop from 100.7K Sol to only 58.4K. Solana NFT sales have taken a drop and it appears Aptos is ready to pounce.
Many in the Solana NFT space have been having discussions about moving over to Aptos as they say it reminds them of the early days of Solana.
People say Solana dead— Cozy ⓣhe Caller 🚀 (@cozypront) October 24, 2022
I would say mostly Solana on pause
Momentum shifting the other way as we lose royalties and Aptos launches
Once we get back royalties and Aptos gets pilled up with trash
Momentum shifts back
Aptos Monkeys has seen more movement than even the popular y00ts project from DeGods, this may be due to the fact that both of those projects have gone proudly zero-royalty or it could be due to the fact that Aptos is just far more interesting to creators at the moment. Other projects which were first slated for Solana have decided to move to Aptos instead.
We are moving to #APTOS 🦈— APTOS TOP SHARKS | MINTING 27/10 at 4 PM UTC 🦈 (@AptosTopSharks) October 20, 2022
Sharks always adapt to their environment!! We want all the freshness and the excitement 🔥
Any interaction with this post will be selected for whitelist!! Watch your DMs 👀
Lets change the meta!!! 🦈🦈🦈 pic.twitter.com/CKOBDbijLs
Projects such as Zodiac World, Mogu Dragonz, and Aptos Top Sharks now announcing a move to Aptos to “take advantage of the hype.” Initially a developed Solana project, Okay Bulls is now moving to Aptos as well.
Okay Bulls are moving all operations to @AptosFoundation. And no this is not a prank.— Okay Bulls (moving to Aptos) (@okaybulls) October 26, 2022
Look inside our Discord for full announcement. Free swaps are available during the first 48 hours.
Although in the case of Okay Bulls this led the community to finally state just how little they trust the team.
Nice guys, now you will rug on aptos, where are you? You dont communicate in discord since months,after 98% royalties,🤡🤡🤡🤡🤡— drkev (@drkev38) October 26, 2022
So your saying I have to move to aptos or loose my bulls and if not in 48 hours you take what I have hmmmm rug maybe I give you guys 2 months till you fully rug— crypto fan (@Komodo_crypt) October 27, 2022
This move is reminiscent of the move from NEAR to Solana at that time when Solana first came around. Some have caught on to that fact and refuse to make the same mistake as last time.
Not moving any liquidity to Aptos. Made that mistake with Near. Solana is the way forward— knoxtrades | JuicyStake.io (@knox_trades) October 17, 2022
There are many mints on the horizon and Aptos has a rare opportunity to become the next big thing, will it be able to do that or will it sit behind as Solana regains its place in the market, only time will tell.
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