Solmap, a new project launched by Magic Eden, has sparked heated discussions and trading frenzy within the Solana ecosystem. This project allows users to own and trade NFTs and inscriptions representing transaction histories within specific time periods on the Solana network. Within less than a day of its launch, Solmap’s trading volume reached $5.02 million.
With the inscription sector continuing to gain traction across major public chains, Solana’s inscription projects, Sols and Lamp, have also garnered significant attention from the community. As a result of this mutual promotion, the price of SOL reached a new high for the year, briefly surpassing $88 and experiencing a 13% surge in the past 24 hours.
The driving force behind this trend may stem from the enthusiastic reception of Solmap inscriptions by the cryptocurrency community last night. According to data from Magic Eden, the main NFT marketplace on the Solana chain, Solmap ranks first in terms of trading volume, with 57,700 SOL tokens traded in less than a day. Based on the current price of SOL (approximately $87), this is equivalent to a value of $5.02 million.
Currently, the floor price for Solmap is 0.74 SOL, but some users have pointed out that certain transactions have reached astonishing prices of 120 and 150 SOL.
What is Solmap?
Solmap is an inscription project launched by Magic Eden, which introduces a new way to express ownership of transaction history on the Solana network, allowing users to own a part of Solana’s historical records for the first time. Each Solmap plot consists of 1,000 consecutive Solana slots (time units on the blockchain) of transaction history, along with an NFT and inscription.
For example, if you minted 12345.solmap, you would own:
– An NFT and inscription representing 12345.solmap
– 1,000 Solana slots ranging from 12345000 to 12345999
– The slot numbered 12345000 serves as the main slot for that plot
According to blockchain explorer data, the Solana network currently has approximately 232 million slots, which means there are currently around 232,000 Solmap inscriptions in existence.
Magic Eden emphasizes that Solmap can be seen as digital real estate and encourages the community to innovate and develop on its foundation.
The announcement mentions potential areas of development provided by Solmap, including block attributes, transactions, rewards, programs, and accounts. It is worth noting that once the minting process is completed, Solmap will become a community-driven project, meaning its development will rely on the active participation and support of community members.
Related Reports
Magic Eden Launches “Bitcoin NFT Marketplace” to Ride the Wave of Ordinals’ Rapid Growth
Solana Rises to Become the “Fifth Largest Cryptocurrency”: Reasons for the Surge and Ecosystem Projects You Should Know
OKX Inscription Tool Beginner’s Tutorial: Supports Batch Minting on 22 Chains, What Are the Security Risks?
Tags:
Magic Eden
SOL
Solana
Solmap
inscriptions