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SOL soared from $43 to $216 in the span of 3 weeks immediately after the DAA mint<br />
Solana transaction volume soared to all-time-highs after the DAA mint completed<br />
Yeah, that’s right. These dumb, goofy, crayon-eating apes would end up being a powder keg that would set the entire Solana<br />
ecosystem on a path where there was no looking back. The importance of the Degenerate Academy mint in relation<br />
to Solana cannot be overstated. It was an extremely significant on-chain event. While it’s important to build out infrastructure<br />
(dapps, defi, various smart contracts, etc.) and a working chain, you need users. Users give value and meaning<br />
to the chain as well as its infrastructure. Without users and community, a blockchain is an empty kingdom without<br />
people. DAA brought the people.<br />
DAA also paved the way for all other collections that followed, having popularized Metaplex token contracts and inspired<br />
the creation of a streamlined minting process via Candy Machine. This led to what has been dubbed as “the Solana NFT<br />
bull run,” whereby artists were able to utilize Candy Machine’s open source code to release their own collections quickly<br />
and efficiently with low fees, and users were able to mint these NFT collections at minuscule costs. Billions of dollars<br />
traded hands during this time in the ultimate trading frenzy to capture value from the first generation of Solana NFTs.
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