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Solana Virtual Machine: $200M Raised for ‘COMMing SOON’ NFT Minting Subscription
The Solana Virtual Machine’s upcoming project, COMMing SOON NFTs, has garnered immense attention, achieving a remarkable feat of raising $200 million in subscription pledges within the first 16 hours of its announcement. This unprecedented enthusiasm has resulted in the minting process being oversubscribed by a staggering eight times. The scheduled minting is set to commence at 12:00 PM UTC on January 14.
Despite the overwhelming demand, issues with rate-limiting on X, which reportedly hindered users’ ability to connect their accounts to the NFT minting site, have been acknowledged by the platform. This surge in popularity could also be an indication of the immense excitement surrounding COMMing SOON NFTs. The scheduled launch time remains unchanged, with the minting set to begin at 12:00 PM UTC on January 14.
It is worth noting that Solana Virtual Machine’s SOON project has recently disclosed its tokenomics and distribution plans, emphasizing a fair launch approach, devoid of pre-mining, pre-token allocations, or VC privileges. In a significant move, the platform has allocated:
* 51% of total $SOON tokens to NFT holders (39% via NFTs and 12% as on-chain activity rewards)
* 25% for ecosystem builders
* 10% allocated to the team and co-builders
* The remaining 14% is split between the SOON Foundation (6%) and airdrop/liquidity efforts (8%)
Notably, this endeavor drew comparisons to the 2017 ICO days of major infrastructure tokens like Solana, Polkadot, and Avalanche, owing to its commitment to ‘no pre-mine, no pre-token allocations, and no VC privileges’ feature of SOON token.
In related news, Solana’s ecosystem has seen significant growth, with the delivery of numerous projects. Most recently, reports emerged regarding Solana’s second phone, Solana Seeker, which is expected to launch in mid-2025. This development follows an earlier statement by Solana Mobile’s general manager, Emmett Hollyer, who revealed that the Seeker has already received 145,000 pre-orders and will be priced at $500 upon release.
Source: www.cryptonewsz.com
