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    NFT Mint Sweet Spot

    Compare the mint price of popular Solana NFT collections to their resale price. Is there a ‘sweet spot’ for Solana NFT mint prices that fetch higher percentage returns on the secondary market? Do collections that cap the number of NFTs a wallet can mint have higher returns?

    Introduction

    What is Solana?

    Created in 2017 by Anatoly Yakovenko Solana aims to scale throughput beyond what is typically achieved by popular blockchains while keeping costs low. Solana implements an innovative hybrid consensus model that combines a unique proof-of-history (PoH) algorithm with the lightning-fast synchronization engine. Its native cryptocurrency is SOL. Currently Solana has the fastest speeds and lowest transaction fees out of any of the top blockchains.

    What are NFTS?

    A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio. Currently on solana the most popular NFTs are profile picture NFTs.

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    Methodology

    • We are going to look at the top 20 nft projects.

    • We are going to look at the mint price for these projects and the maximum number of mints.

    • We are looking to see the mint price and Max mints that have been successful on Solana.

    Top Solana NFT metrics

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    Observations

    • Solana monkey Business, Degen Apes, and DeGods NFT Collections are the most popular Solana NFTs by total volume.

    • The sales volume of these top NFT Projects has been continually increasing over 2022.

    • 6 of the top 15 NFT projects have an average resale volume over 30 Solana.

    • The collections with a mint cap per person are leaders amongst the top NFTs by volume.

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    Observations

    • The NFT Projects listed above were minted for between 0.5 and 2.5 SOL.

    • The average sale price of a Baby ape was almost 10X the price of the NFT mint.

    • There is a very large variance in average sale size amongst the different market places with the monkey business marketplace.

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    Conclusion

    • Solana monkey Business, Degen Apes, and DeGods NFT Collections are the most popular Solana NFTs by total volume.

    • The collections with a mint cap per person are leaders amongst the top NFTs by volume. '

    • Many of these top NFT are being minted in the range of 0.5 - 3 SOL and being SOL 10X or more than their initial minting price.