The Sui Network has been making waves in the NFT industry with its debut collections which have completely sold out, yielding hundreds of thousands of dollars in the process. Following its mainnet launch on May 3, the blockchain network has proved to be a strong contender in a highly competitive industry, leading some to dub it a “Solana Killer”.
One of the standout collections on the Sui Network is the flagship ‘Fuddies’ 10k PFP collection, which despite some early hiccups, saw almost $800k in secondary trading in just 24 hours. In fact, the project was keen to highlight that this figure eclipsed that of rival blockchain network, Polygon.
The Sui Network has built out its NFT-friendly infrastructure with several optimized marketplaces, including its native trading hub, Clutchy, and former Aptos marketplace Souffl3. Although the debut of Fuddies was hindered by a few teething problems, including delays due to issues with the Sui mainnet launch, and a malfunction with the Clutchy NFT marketplace, the network has now ironed out these initial problems and can begin to expand its project further.
The Sui Network was launched as a brand-new Layer 1 blockchain developed by Mysten Labs, with the infrastructure in place to tackle the rigors of the NFT industry. This has enabled Sui to prove itself as a strong player in a highly competitive industry and has drawn attention away from Ethereum and Solana, whose NFT sales have been stagnating.
Overall, The Sui Network has proved to be a welcome addition to the NFT industry, and with its debut collections already selling out, it’s worth keeping an eye on what this blockchain network will bring to the table in the future.