Solana Monkey Business NFTs Reign Supreme on Solana—How to Buy One

Recently, Steve Harvey caused a stir on Twitter when he changed his profile picture to a Solana Monkey Business (SMB) NFT. Rising as the leading NFT project on the Solana Network, Solana Monkey Business NFTs have a total market cap of $100 million, which makes them rather valuable assets to hold. Many people interested in the Solana Network want to know how to invest in SMB NFTs—here's how.

People who are curious about buying in at this point should note that the upfront cost to access the SMB NFT perks is high. The cheapest SolanaMonkey is a little over $26,000, which makes it an expensive entry point for those new to NFTs.

The Solana Monkey Business NFT can be best described as a collection of 5,000 unique, pixelated, and small monkeys. Falling in line with other primate-like NFT projects including Bored Ape Yacht Club and CyberKongz on the Ethereum Network, SMB NFTs give the holder owner-exclusive advantages, like governance.

All SolanaMonkey metadata is stored on permanent decentralized storage, Arweave. Each SolanaMonkey was generated over 99 possible traits and spread over six layers, which allows for some to be rarer than others. This gave everyone who participated in the initial drop a chance to mint the rarest ones.

Every NFT not only represents digital scarcity but also carries properties that enhance its overall rarity. SolanaMonkey rarities were cleverly revealed just before the launch. With over 99 possible traits, there's a lot of room for possible rarities. The rarest type of SolanaMonkey is "Solana," which represents a total of 1.46 percent of the entire collection.

In looking beyond the type of SolanaMonkey, each SolanaMonkey is equipped with randomized properties or attributes that can increase its overall value. However, rarity isn't always sought as the most valuable since some investors value "aesthetics" over rarer attributes.

According to the SolanaMonkey attributes, the items most desired are a smoking pipe, diamond clothes, Solana vipers, and a crown. While the "Solana" SolanaMonkey type is the rarest, there are rarer types that predate it. Holders of the complete Gen 1 collection hold the rarest of SolanaMonkeys and are granted 5 percent royalties from the SolanaMonkey collection in a 50/50 split ratio between the creator and the shareholders.

Solana Monkey Business NFTs have been hot on the market and have come a long way from when they were first released. Humbly minted for 2 SOL, then priced at approximately $40, SolanaMonkeys have come a long way with a current floor price of nearly 200 SOL. At the time of writing, 200 SOL is valued at $26, 272 given that the current price of SOL at $131.36.

Since the SMB NFT project is generated on the Solana blockchain, a supported wallet is needed to interact with the network. According to the SMB NFT website, the marketplace supports the following wallets—Phantom, Solare, Sollet, Slope, Solong, and MathWallet. Once the appropriate wallet is downloaded, funds will need to be transferred into the wallet.

The easiest method for most U.S. residents to transfer funds is using the fiat on-ramp cryptocurrency platform, Coinbase. As a method to seamlessly transfer Solana's native token, SOL, users can have funds transferred quickly. After SOL gets deposited into a wallet, users can peruse the marketplace to invest in the leading Solana NFT.