NFT Exchange, Hadeswap, Acquires Solana Monkey Business 

Solana Monkey Business is set to lead the charge thanks to a new simian king taking over. Hadeswap is creating a new era for the iconic NFT project

Hadeswap, the quirky NFT marketplace on the Solana blockchain, has swopped in and acquired the IP rights to Solana Monkey Business (SMB) to climb to greater heights in the Web3 space.

Quick Take: 

• Hadeswap recently purchased the rights to Solana Monkey Business from its original creators and planned to support the significant project better.
• The marketplace says it will “respect the legacy” of Solana Monkey Business” while “bridging the gaps on its shortcomings” and making the project more accessible to a larger audience.
• It also plans to integrate the HADES token system.

How HadeSwap Will Swing SMB to New Heights

With SMB now under its force, Hadeswap plans on boosting the project to new heights. And, in this case, it means no more traditional item listings for this marketplace—instead, automated market markers (AMM) and trading pools to support the already prominent project.

In a blog post announcing the news, Hadeswap says it intends to “respect the legacy” of Solana Monkey Business while “bridging the gaps on its shortcomings” while touching upon its hopes to branch out.

Solana Monkey Business took to Twitter to announce the news:

Hadeswap acquires SolanaMonkeyBusiness

→ @Hadeswap transfers ownership to HadesDAO to lead the initiative

→ Dedicated team of contributors, ops, devs and culture leaders to reinforce the SMB brand

→ Involvement in @Hadeswap's DAO funding & proposals

Full Press Release ↓

— SolanaMonkeyBusiness (@SolanaMBS) February 13, 2023

The platform also plans to integrate the project within its Hadeswap and HADES token ecosystem.

Pondering SMB’s Rise and Future Prospects

The launch of SMB was back in June 2021. The NFT collectibles soon became a pioneering project in the burgeoning Solana NFT arena. With 205 initial pixel collectibles featuring space monkeys, the NFT project quickly grabbed the attention of collectors.

The more extensive Gen2 collection, consisting of 5,000 NFT PFPs, further solidified its status as a standout project in the Solana community.

The demand for SMB assets is apparent following its current floor price of approximately $5,800 on the leading Solana marketplace, Magic Eden. It is just below DeGods, the largest Solana NFT project, with a minimum of 1,000 pieces.

Nevertheless, SMB’s valid claim to fame lies in its trading volume. Data shows that SMB continuously generates more trading volume (in USD) than any other Solana project, totaling a staggering $159 million. This impressive feat can be attributed to its popularity during SOL’s peak price of $260 in late 2021, as opposed to its current value of around $20.

Following on, it’s no wonder Hadeswap would want to acquire such a project to try and take it back to the highest peaks. Judging by its extensive history, it has the potential. 

So, stop monkeying around — keep an eye on the changes in SMB.

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