NFTs
What is SPL-404? Solana’s new NFT standard
![What is SPL-404? Solana's new NFT standard](https://tokentalk.top/wp-content/uploads/2024/05/What-is-SPL-404-Solanas-new-NFT-standard.jpg)
A new token standard, SPL-404, is gaining attention on Solana for its ability to integrate NFTs and DeFi.
This approach combines the distinct qualities of NFTs with the liquidity and fungibility of traditional tokens, creating a unique hybrid asset.
This token standard allows the exchange of NFTs for a certain number of tokens and vice versa.
What is the SPL-404 token standard?
Think of SPL-404 as a hybrid token – it uses Solana’s Token22 standard to mint NFTs with an intrinsic token value.
Traditional NFTs represent unique digital items such as artwork, collectibles or gaming assets, and are typically less liquid than fungible tokens because each asset is unique. SPL-404 changes this by allowing NFTs to have an intrinsic token value, effectively assigning each NFT a certain number of underlying tokens.
This value may vary based on factors such as rarity, demand, or tokenomics defined by the creators of a given collection.
As a result, this token standard offers more flexibility in trading and accessing liquidity.
Source: Gogonauts, Mall Street, Fluffys, The Delinquents
How does SPL-404 combine DeFi and NFTs?
SPL-404 combines DeFi and NFTs, allowing NFT assets to be more like traditional tokens.
- Ease of trading: If each NFT has a built-in token value, it will be easier to buy and sell. You don’t need to look for a specific buyer – just find someone who wants the tokens to be worth it.
- Accessibility: SPL-404 can reduce the cost of entry into NFTs; Instead of buying a single expensive piece, you can get into the tier that fits your budget.
- Flexible use cases: This new standard opens up some possibilities. For example, in a game, an SPL-404 NFT could be an in-game item with a token value, making it easier to trade or sell when you are done using it.
What are the current SPL-404 designs?
Several projects on Solana already adopt the SPL-404 standard.
These projects leverage the hybrid nature of SPL-404 to offer unique digital assets with more liquidity than traditional NFTs. here are some examples:
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*All financial/investment opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to thoroughly research any product before making any type of investment.
NFTs
Solana Monkey Business Leads NFT Sales with $875,91K
![Solana Monkey Business Leads NFT Sales with $875,91K](https://tokentalk.top/wp-content/uploads/2024/07/1722041110_Solana-Monkey-Business-Leads-NFT-Sales-with-87591K.png)
Image: AI-generated via Midjourney
Solana Monkey Business topped CryptoSlam’s non-fungible token (NFT) sales charts on July 22 with $875,914 in total sales.
The collection had 122 unique buyers, equaling the number of sellers, and an average price of $5,308 per NFT.
This increase in daily sales boosted the SMB’s all-time sales volume to a new record of $212.48 million.
The Solana-based ape-themed collection entered the list of the top 30 NFT sellers of all time over the weekend, knocking SATS BRC-20 NFTs off the rankings.
The second best performing collection of the day was gETH Locked Deposit.
This NFT, which represents gETH locked on the Ethereum layer-2 network Arbitrum, saw a daily sales volume of $583,047 from just one transfer.
The asset was brother-in-law just moments before the transfer is made.
In third place, DMarket’s NFTs and in-game virtual items on the Mythos Network saw a total of $565,002 in sales.
The collection attracted 3,254 unique buyers and 2,848 sellers, with an average price of $24.66 per item. Active DMarket owners stood at 5,111, contributing to a total owner count of 397,931.
Outside of the top three, Ethereum’s DogeZuki Collection came in fourth place with $436,787. Bored Ape Yacht Club, another Ethereum collection, had total sales of $341,576 for fifth place.
While a Solana collection led the day’s results, the network’s total NFT sales for the day were slightly outpaced by Ethereum.
Ethereum led all blockchains in sales on Monday with $4.2 million, with Solana close behind at $4.1 million.
NFTs
ArcadeXYZ Secures $450,000 in Ringers NFTs
![ArcadeXYZ Secures $450,000 in Ringers NFTs](https://tokentalk.top/wp-content/uploads/2024/07/ArcadeXYZ-Secures-450000-in-Ringers-NFTs.png)
NFT lending remains strong despite the overall downward trend in prices.
Arcade.XYZ, a non-fungible token (NFT)-based lending protocol, secured $450,000 worth of NFTs from Dmitri Cherniak’s Ringers collection on July 24.
The loan is structured with a principal of $16,000 per NFT, and the current highest bid on the Ringers collection on Opensea is 8 wETH, equivalent to approximately $26,000.
The big loan comes at a time when darlings of the generative art scene like Ringers and Fidenzas continue to see their floor prices drop. Bells It is Fidenzas both have surpassed the 2021 minimum price of 100 ETH and are now at just 17 ETH and 32 ETH.
Collateralized Ringers – Arcade.xyz
Despite the slowdown in sentiment and prices around NFTs, the lending market continues to process consistent volume.
Some of the largest platforms, Blend, Gondi, NFTfi, and Arcade process over $80 million in outstanding debt combined. The NFT lending market broke volume records in Q1 2024, surpassing $2 billion in total volume.
Q1’s extraordinary lending volumes can be attributed to Blend’s Blast airdrop incentive and the rise of Ordinals loan in the Arcade.
The largest NFT loan belongs to CryptoPunk 8219 by NFT collector Gmoney, which was guaranteed for $1 million in Gondi XYZ, and holds a current principal of $700,000. A far cry from the claims made in the mainstream media that “Your NFTs are actually, finally, totally worthless.”
NFTs
NFT Sales Drop Over 31% in April; Ethereum, Solana See Steep Declines – Bitcoin Markets and Price News
![NFT Sales Drop Over 31% in April; Ethereum, Solana See Steep Declines – Bitcoin Markets and Price News](https://tokentalk.top/wp-content/uploads/2024/07/NFT-Sales-Drop-Over-31-in-April-Ethereum-Solana-See.jpg)
https://news.google.com/./articles/CBMiYmh0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9uZnQtc2FsZXMtZGlwLW92ZXItMzEtaW4tYXByaWwtZXRoZXJldW0tc29sYW5hLWV4cGVyaWVuY2Utc2hh c nAtZGVjbGluZXMv0gEA?hl=en-US&gl=US&ceid=US%3Aen
Fuente
NFTs
NFT Sales See Week-Over-Week Decline as Market Continues to Cool – Bitcoin Markets and Price News
![NFT Sales See Weekly Decline as Market Continues to Cool – Markets & Prices Bitcoin News](https://tokentalk.top/wp-content/uploads/2024/06/NFT-Sales-See-Weekly-Decline-as-Market-Continues-to-Cool.jpg)
https://news.google.com/./articles/CBMiWmh0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9uZnQtc2FsZXMtc2VlLXdlZWstb3Zlci13ZWVrLWRlY2xpbmUtYXMtbWFya2V0LWNvbnRpbnVlcy10by1jb29s L 9IBAA?hl=en-US&gl=US&ceid=US%3Aen
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