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Solana NFT Market Reaches Record High with Mad Labs Launch

As the world of non-fungible tokens (NFTs) continues to grow in popularity, the Solana NFT market has recently hit a new record high. On April 22, the market’s turnover reached an impressive 489,201 SOL, which equates to approximately US$10.124 million. This record high was mainly due to the launch of Mad Labs, the first xNFT series by Backpack.

Source: Solanafloor

Mad Labs has taken the NFT world by storm, with a transaction volume of 8.23 million US dollars in the past 24 hours alone. This impressive figure has allowed Mad Labs to surpass other popular projects such as Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) to reach the top sales volume on the Solana NFT market.

The floor price for Mad Labs has also been on the rise, currently sitting at close to 65 SOL. This shows the demand for these xNFTs is high, with investors and collectors alike eager to get their hands on these unique digital assets.

For those unfamiliar with xNFTs, they are a new type of NFT that allows holders to claim various rewards, such as access to exclusive events or merchandise, in addition to owning a unique digital asset. Mad Labs is just one example of the growing popularity of xNFTs in the NFT market, and its success has certainly caught the attention of many within the industry.

Overall, the recent success of Mad Labs and the Solana NFT market’s record high turnover is a testament to the growing interest in NFTs and the potential they hold for investors, collectors, and creators alike. It will be interesting to see how the market evolves in the coming months and what new innovations and projects will emerge.

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