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Aptos attracts more NFT collectors at the expense of Solana

aptos nft

In the NFT sector, Solana stands out as reference as well as being a direct competitor to Ethereum. However, Aptos makes its appearance in the middle and even the nickname “Solana Killer Online Game“. So why such a nickname? Is it a simple hype or else a a true alternative even more effective?

Solana NFT market in turmoil

decentralized platform Solana had a tough month in October. Indeed, since the various markets have decided not to do so they no longer impose royalties on creators, interest in the platform continues to wane. Royalties are now discretionary, meaning buyers are required to leave some.

Also, the platform suffered computer attacks in early October. There was a fake Phantom update intended to steal the wallets of platform users.

Trading volume is down and the bear market is not the only problem. A new competitor made a great entry into the NFT field, its name: Aptos.

Considered Solana’s killer by some, Aptos seems to be getting all the attention lately. Some investors do not hesitate to transfer funds from Solana to Aptos. The young blockchain network was launched last week with $350 million in venture capital assistance. The crypto community took a small view of this launch by criticizing the provision of the token. Some have called the blockchain a “technical disappointment”.

Despite criticism and pessimism from the NFT world, Aptos is leading the sale of non-fungible tokens. Especially thanks to his project Aptos monkeysthe platform It surpasses other Ethereum and Solana collections in terms of 24 hour trading volume.

Aptos attracts more NFT collectors at the expense of Solana

NFT related to the “Aptos Monkeys” collection.

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Aptos in a few figures

Since its launch on October 18, no less than $5.56 million has been accumulated on the Topaz platform (Aptos NFT market). If the creator of Topaz 0xclickbait is to be believed, the Aptos Monkeys collection would only be generated close to $2.3 million in trade volume, ie 253,000 APT. However, the collection that has been selling the most recently is CryptoPunks. With 559ETH generated in the last day, this is about $860,000 at the current Ethereum price.

The founder of Topaz announced that “the number of transactions on the platform increases almost every day“. This shows us the interest of NFT collectors in Aptos. However, 0xclickbait tells us that Aptos is in the process develop a blockchain analytics system. But if we look at the figures provided by Topaz, they are consistent with the flow of transactions on the market.

The young two-week platform almost matched the trading volume of Solana’s (Magic Eden) NFT market. Looking at the trading volume in the last 24 hours, Topaz is only $90,000 less than Magic Eden. In fact, Solana’s NFT market brought in 58,100 SOL ($1.8 million) and Topaz traded $1.71 million over the same period.

At the same time, Magic sees Eden decrease in trade volume, as we said above with Solana’s difficulties. It was almost half, from 100,700 SOL to 58,100 SOL. However, an upward trend could be seen yesterday reaching a trading volume of 79,400 SOL.

Also, looking at Magic Eden’s 30-day stats, the data isn’t very reassuring. In fact, the platform saw a drop of 33% compared to last month. This can be explained by the eliminate fake transactions who suspected market manipulation.

Twitter reacts to the move between Solana and Aptos

Many investors are talking about getting into Aptos, which reminds them of the early Solana hype. This could partly explain the liquidity fluctuations between the two markets. But many still believe in Magic Eden which is “at rest” and not “dead” for some people.

While some thought the NFT market was over, Aptos did a great start to his NFT collections. Aptos Monkeys is not the only winner, Aptomingos also got off to a great start with $892,000 in trade volumes. The cheapest being sold around 750 dollars.

The changing dynamic also pushes some potential creators to escape from Solana. With NFT projects like Zodiac World, Mogu Dragonz and Aptos Top Sharks the creators announce that they are “move to Aptos” to take advantage of the craze. Meanwhile, existing project Okay Bulls has said it will move to Aptos.

Solana’s defenders responded on Twitter with dismay as they recalled what happened to him Near-Protocol. This platform, which was just like Solana, profit from hype to attract Solana users, however, this did not last. Many investors got scammed and lost a lot of money.

Now we need to know if Aptos is just a hype phenomenon or if it will succeed in establishing itself in the NFT market like Solana. In any case, Aptos is not lacking in ideas and there are other projects to come with Bruh Bears and other currencies that are expected.

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