The innovative debut of Aptos NFTs along with Topaz: Is it possible for this emerging blockchain to surpass Solana?
In Brief
Though just a week old, Aptos has already garnered significant attention from the NFT community.
Topaz, the NFT marketplace for Aptos, managed to achieve over $2 million in trading volume within just a few days of its launch.
Due to the ongoing challenges faced by Solana, numerous creators are deciding to transition their NFT projects to Aptos.
In its first week since launching, Aptos's mainnet has rapidly gained traction in the world of NFTs. This proof-of-stake Layer 1 blockchain, created by former Meta employees, went live on October 17. It utilizes a smart contract language called Move, aiming to achieve transaction speeds exceeding 100,000 transactions per second.
In June, the startup explained in a blog post The blockchain's founders are focused on addressing large-scale NFT minting challenges. They proudly claimed to have ‘minted millions of NFTs in under an hour on the Aptos Blockchain.’
According to representatives, 'The Aptos network aims to eliminate speed bottlenecks and provides the necessary framework to enhance both reliability and efficiency for the future portability of NFTs across various platforms. We are excited by the potential this offers and are committed to empowering creators worldwide by enabling rapid NFT deployment wherever their audience resides,'
Aptos wrote.
Currently, the leading NFT platform, OpenSea, has yet to include support for Aptos NFTs. The primary marketplace for Aptos digital collectibles is Topaz, which has notably raised $1.1 million in just one day only four days post-launch. reported On the other hand, the value of Solana's NFTs has been on a downward spiral. For more than a year, Solana has held the position of the second most popular blockchain for NFT trading. However, recent data from CryptoSlam indicates a shift, with Solana now ranking third in sales volume behind ImmutableX.
Aptos NFTs vs Solana NFTs
For the first time in over a year, Solana finds itself not positioned at #2 in NFT sales volume, trailing Ethereum.
Our team has made a decisive move to initiate minting on the new Aptos blockchain. Amid Solana's tumultuous times, we aren't waiting for things to improve. We're eager to build and bring our concepts to life right now.
'As NFT trading volumes on Solana consistently decline, Aptos is reaping the rewards from this downward trend. Within just 5 days of its launch, the Topaz NFT marketplace has seen an impressive $2 million in sales.' 'The shift from Solana to Aptos is gaining momentum. This is largely due to the recent removal of royalties on Solana’s NFT platform Magic Eden and growing dissatisfaction among investors regarding the SOL network, simultaneously creating an opportunity for Aptos,'
That said, it may still be premature to declare Solana 'dead' or assert that Aptos is destined to become the dominant blockchain for NFTs, even eclipsing Ethereum. Should a bull market emerge, Solana could potentially bounce back rapidly. The excitement surrounding Aptos may simply stem from its recent launch and the allure of airdrops. For instance, early users of the Aptos testnet received 150 APT tokens (valued at approximately $1,200) on October 19.
The startup has recently secured $150 million through a Series A funding round, led by FTX and Jump Crypto, pushing its valuation beyond $1 billion. Aptos has attracted considerable investment from major players like Tiger Global, Andreessen Horowitz, Apollo, Circle Ventures, Franklin Templeton, Griffin Gaming Partners, and Superscript.
Crypto Consultants UK shared their view.
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Last week, the Web3 startup launched Aptos Names Service (ANS) on the mainnet.
Through 2022, Aptos raised $350 million Web3 initiative Aptos has successfully raised $150 million in Series A funding with guidance from FTX and Jump Crypto.
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