Mad Lads, a Solana profile picture (PFP) collection launched earlier this year, continues to outperform most of the prominent NFT projects of late, with the entry price soaring once more as the project tops the 24-hour NFT sales volume chart.
According to data from Solana Floor, the Mad Lads floor price—or price of the cheapest NFT listed on a marketplace—currently stands at 123 SOL, or just over $7,100 worth.
That’s a new peak for the collection, which has more than tripled in price over the course of November. On November 13, Decrypt reported that the Mad Lads floor had hit nearly $4,500 worth of SOL, which was more than double the USD floor value prior to November.
And they’re selling at those higher prices, too. Over the past 24 hours, over $1.39 million worth of Mad Lads have been sold on secondary markets, per data from CryptoSlam. It’s the biggest seller during that span, beating the Fortune Founder’s Pass NFT from crypto game Army of Fortune, with $1.16 million worth of trades.
Mad Lads also topped the popular Bored Ape Yacht Club on Ethereum during that span, which saw about $881,000 worth of NFT sales. Another Solana NFT project—Tensorians, which is tied to the Tensor marketplace—lands behind the Apes with about $810,000 worth of sales.
A few factors are driving both the price surge and apparent demand for Mad Lads. The price of Solana has risen substantially in recent weeks, popping from about $21 on October 1 to a current price of $58, and rising as high as $65 of late.
According to CryptoSlam, Solana NFTs have racked up over $62 million worth of sales in November so far, compared to about $28 million for all of October. The average sale price, measured in U.S. dollars, has more than doubled from last month.
Mad Lads stand apart from the Solana pack for a couple of reasons. Created by startup Coral, the project is connected to the Backpack app and its executable NFTs (xNFTs) standard, which delivers various experiences around tokenized assets.
Coral is also in the process of launching its own crypto exchange, which was granted a license in Dubai and has enlisted former FTX general counsel Can Sun to lead the charge, including attempting to raise funding. Mad Lads NFT owners were given first access to signups for the exchange, and separately, Mad Lads holders were granted PYTH tokens as part of last week’s Pyth Network airdrop on Solana.
Mad Lads has been the buzziest NFT project on Solana since launching earlier this year, and now is bundling in various perks for holders, apparently fueling demand.
Edited by Ryan Ozawa.