BONK-Themed NFT Collection on Magic Eden Sells Out in Hours

The trendsetting $BONK is back in the spotlight as 15,000 Bonk-themed NFTs sell out in less than 120 minutes.

Shiba Inu dog next to cartoon shiba Inu with a bonk in front of pink inscription of "BONK".
  • Dog-themed memecoin Bonk (BONK) surfaced only a few weeks ago.
  • Bonk contributed heavily towards getting Solana (SOL) back on its feet.
  • Co-creators of $BONK launched Bonkz NFT collection, which sold out in two hours.

The newly-bred memecoin Bonk continues to make waves in the crypto space. Right after the monumental 4424% bull run a week ago, the first Bonk-themed NFT collection was released. The hype around the new memecoin, which stepped in to save Solana, is evident in the quick sellout of the 15,000 canine NFTs.

Bonkz NFT Floor Price Went Up 10 Times

Firstly, the initial floor price for one of Bonkz NFTs was just 16.25 million BONK tokens, which converts to just $26. Right after the inaugural mint on Tuesday, the NFT floor price for a Bonkz NFT skyrocketed to a whopping $280. While the popularity of the Solana-based canine coin continues to grow, the secondary markets can demand a significantly higher floor price.

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Moreover, the ten times increase suggests that the substantial hype Bonk produced over the last two weeks is far from over. Interestingly, some crypto enthusiasts violently smashed their electronic devices after failing to acquire a Bonkz NFT on the primary sale. At press time, the NFT floor price for Bonkz NFT is 21.49 SOL, which converts to $340.

Bonk Jumps 21.9% in a Week

The success of the Bonkz NFT collection comes as no surprise, considering the fresh canine coin’s journey since its launch. The NFT collection, created by OMNIcreative, also tackled the sensitive issue of NFT creator royalties. Magic Eden, the leading NFT marketplace on Solana’s blockchain, decided to enforce the Open Creator Protocol (OCP) for the mint of Bonkz NFT.

Ultimately, this means that NFT artists can collect royalties off this collection regardless of where they are stored. The OCP protects the creators’ royalties by banning NFT marketplaces that haven’t enforced NFT royalties in their ecosystems.

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At press time, the canine memecoin trades at $0.00000155, according to CoinGecko. Strolling in the green with 21.9% gains for the last seven days, Bonk is also the top choice for airdrops. As OMNI decided to burn a colossal 165,000,000,000 $BONK tokens of the revenue made from the sale, this indicates that the puppy memecoin is a rare breed with a lot of growth potential.

On the Flipside

Why You Should Care

The new Solana-based memecurrency is among the most watched cryptos in 2023.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.