Investment firm buys Solana NFT issued online for $1.1 million

Moonrock Capital, an investment advisory firm focused on the blockchain industry, bought a Solana NFT from the Degenerate Ape Academy collection for $5,980 SOL ($1.1 million at the time of the deal).

The company bought Degen Ape token #7225 - NFT is one of the rarest in the collection, according to HowRare.is. The Solana blockchain-issued, non-interchangeable token sold for more than a million dollars for the first time. 

In August, Monkey #1674 was bought for 7,000 SOL, but the cryptocurrency price was lower then - the token was valued at $607,390.

Moonrock Capital also bought a rare NFT from the SolPunk set, a Solana-issued version of the CyptoPunk Ethereum collection. The company paid 1,388 SOL (~$260,000 at the time of the transaction) for the token.

According to Solanalysis, the aggregate market value of all NFTs issued on the Solana blockchain has risen 14% in the past 24 hours, exceeding $610 million. Users have made nearly $49 million in transactions with these tokens in the past seven days.

The Ethereum network still leads the NFT segment. In August, the turnover of the non-reciprocal token-oriented OpenSea platform exceeded $3 billion. For the incomplete September trading volume of the marketplace reached $1.23 billion - a combined market cap of $1.26 billion, according to The Block.

Recall that in early September, developers integrated decentralized streaming platform Audius with cryptocurrency wallet Phantom on the Solana blockchain.