According to Odaily, SolanaFloor has announced on platform X that over 500 million Non-Fungible Tokens (NFTs) have been minted on the Solana blockchain. A significant portion of these NFTs have been created using a new compression standard.
In addition to this, the total number of collections has exceeded 100,000, and the number of collection addresses has surpassed 49 million. This indicates a significant increase in the use of the Solana blockchain for NFT creation and trading.
The new compression standard being used for the majority of these NFTs represents a significant development in the NFT space. This could potentially lead to more efficient storage and transfer of NFTs, making the Solana blockchain an increasingly attractive platform for NFT creators and collectors.
The surge in NFT minting on Solana is indicative of the growing popularity of NFTs and the increasing adoption of blockchain technology in various sectors. The use of a new compression standard could further enhance the efficiency and scalability of NFT transactions on the Solana blockchain.