Hadeswap NFT Exchange Acquires Solana Monkey Business

Hadeswap is an NFT marketplace that has acquired one the most important and prominent NFT projects in Solana. According to an announcement made at week’s beginning, this is true. Hadeswap stated that it will respect the legacy of Solana Monkey Business and “bridging gaps of its weaknesses.” There are also plans to make the project more available to a wider audience. The project will also be integrated into the Hades token ecosystem in the future.

Solana Monkey Business was launched 20 months ago. It initially released collectibles measuring 205 pixels that featured a monkey in space. A Gen2 collection, which included 5,000 NFT profile photos (PFPs), was launched 20 months ago. This became very popular with Solana NFT collectors.

CryptoSlam data shows that SMB generated more trading volume than any other Solana project, and has sold over $159,000,000 in total sales. The project has had its ups and downs despite its success.

MonkeDAO will accept the new Solana Monkey Business owners, but it’s not clear.

After arguing with NFT owners, the project creators formed a MonkeDAO (Decentralized Autonomous Organization). Their goal was to expand the ecosystem and further the SMB project.

It was crucial that these creators recognize and support DAO initiatives. The NFT owners threatened to wrap the NFTs of their creators, thereby turning them into new assets, if they didn’t want to support and recognize the DAO. They would then take away creators’ secondary sales royalties which are how creators generate revenue and redirect the funds to the DAO.

The issues will be settled amicably. It remains to be seen what the DAO’s reaction will be to the sale of its IP rights. MonkeDAO worked with project creators to buy its IP rights. This sale is a complete blindsight.

Ariel Givner, a MonkeDAO member, tweeted that the MonkeDAO team was just as shocked as you were about the Hadeswap SMB purchase. It didn’t pan out .” after months of negotiations with the SMB developers.

It remains to be seen if the DAO will embrace the new Solana Monkey Business owners, or if it branches out on its own.

NFT News Today’s first article, Hadeswap NFT Exchange Acquires Solana Monkey Business, appeared first on NFT News Today.

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