As NFT sales on Ethereum and Solana continue to stagnate, the all-new Sui Blockchain has been kicking up a storm. Following its mainnet launch on May 3, the network has seen NFT collections completely sell out, yielding hundreds of thousands of dollars in the process.
Sui represents the latest in a long line of blockchain networks that aim to break into a highly competitive industry. Dubbed by some as a ‘Solana Killer’ it has marked its entry into NFTs with several collections that have proved highly popular.
Among these, is the flagship ‘Fuddies’ 10k PFP collection which, despite a few early hiccups, saw almost $800k in secondary trading in just 24 hours. A figure that the project was keen to point out, eclipsed that of rival blockchain network, Polygon.
Fuddies just passed the entirety of @0xPolygonLabs in 24 Hour sales volume and @SuiNetwork didn’t even have to pay us to launch on their chain pic.twitter.com/DhvBwpaMNs
— Fuddies (@FuddiesNFT) May 5, 2023
The Sui Network Builds out its NFT-Friendly Infrastructure
Launching as a brand-new Layer 1 blockchain developed by Mysten Labs, Sui already has the infrastructure in place to tackle the rigors of the NFT industry. This includes several Sui optimized marketplaces, including its native trading hub, Clutchy, as well as former Aptos marketplace Souffl3.
It is through Clutchy that Fuddies marked its owl-themed entry into Web3, however this debut was hampered by more than a few teething problems. Initially, the drop was delayed due to issues with the Sui mainnet launch, then secondary trading was hampered by a malfunction with the Clutchy NFT marketplace. However, now Sui has ironed out these initial problems, it can begin to expand its project further.
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*All investment/financial 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 fully research any product prior to making any kind of investment.