NFT Collections are getting sold out regularly, but very few sell out just within hours after dropping. However, the Saudis NFT collection is one of those few.
While the talks of a Crypto crisis still persist, one would think that the NFT market would become stale, yet, there are new and upcoming projects that sell out in record time.
The Saudis NFTs
Currently, the floor price for Saudis is valued at 0.45 ETH ( $678). Last week, the price was valued at a peak of 1.3 ETH (nearly $2,000). . the Saudis collection has amassed a total of 8,300 ETH (about $12.8 million)so far since it was minted.
The Saudis NFT has had one of the most major opening weekends out of many other Collections, on Opensea since the inception of the marketplace. One may ask what the source for such a success is, and the answer is the large Twitter following the collection has managed to amass.
— The Saudis 🇸🇦 (SOLD OUT) (@TheSaudisNFT) July 20, 2022
NFT Collections and Controversies?
Nowadays, it seems almost unheard off to see an NFT Project without some kind of controversy and the Saudis are no exception. The current controversy surrounding the Project is concerning an automated bot that supposedly lowered the floor price of the collection.
Apart from this, the Project had its fair share of ‘social Media drama” as accusations were thrown at some influential social media personalities who were supposedly privy to the information before the Project launch and were able to make a notable profit off their early knowledge of the mint.
These circumstances are nothing new to the NFT space, in fact, they are part of the routine in the space at this point.
Yes. NFTs are still selling.
In spite of the current crypto crash, a number of NFTs are still doing numbers and selling like hotcakes. The Saudis collection is simply the most recent in a series of outstanding NFT sales.
The Saudi NFT project gained its momentum by leveraging influencer marketing campaigns, Twitter Spaces, and NFT-themed, ghoulish hangouts. Projects like these reveal that, in spite of how the mainstream media may think, there’s still a lot of interest in NFTs.