Solana’s price has been slammed since Sam Bankman-Fried, FTX, and Alameda all got exposed. Once the rival of Ethereum, it’s now being called one of “Sam’s coins” and outcast by the crypto-community. However, the parent company of the SOL token still has the powerful NFT community “Magic Eden” based on its blockchain. And though it’s a risk, fans of Michael Jordan can now own one of his official 6 Rings NFTs for only $45.
So, should collectors wait for $23 to come back? A humorous idea or fans of the real MJ.
Originally, the HEIR Non-Fungible Tokens collection went live on March 3, 2022. Each of Jordan’s NFTs were set at a reasonable price of 2.3 SOL, which at the time was around $221 USD. Solana’s native coin had a value of around $96 at that time.
Today, the same token is valued at $14.41 or about one-seventh of the value in March.
HEIR “6 Rings” NFT Risks
The price crash is due much in part to Solana having $134-Million invested in FTX.
However risky buying in the dip is, it’s still bringing opportunity. And the price could slip further, reports many analysts, but volatility is beneficial at times.
So Will Magic Eden’s NFT marketplace and Solana make it ? That’s the question no one can answer with certainty.
For true fans of Michael Jordan, this is an opportunity to own an official piece of digital art from “Air Jordan,” the greatest basketball player ever of all-time. After all, why not? The Metaverse is still coming and cryptos are still going to rise again. It’s a Trillion dollar industry.
Michael Jordan NFTs’ Values
There is a total supply of just over 5,000 6-Ring NFTs. The average sale is 16.99 Solana. There have been 34,200 exchanges (buys and sells) of the ‘bull themed’ metaverse artwork since their releases. And there are only 198 listed today on the Magic Eden exchange.
The prices of each NFT vary. The lowest are selling at a rate of 2.94 SOL ($42.55USD) and the highest, the Gold 6 Rings Bull, has an asking price of 50,000 SOL ($723,500 USD).
Currently only 8 of the 6-Rings bull by HEIR have a cost of 1,000 SOL or higher. The vast majority are 20 SOL or less.
These NFT’s designate the collector as a ‘founding fan’ and give exclusive access to exclusive metaverse content. Things such as ‘huddles’ and HEIR communities are privy to the 6-Rings Non-Fungible Token holders.
The project was put together via a collaboration of Michael and his son Jeffrey Jordan. The son of basketball great hopes to use the NFTs and metaverse to connect with MJ on a higher level.
This price drop comes on the heels of Klay Thompson losing possibly up to $20-Million dollars of his 2022-23 salary. The Warriors guard took an undisclosed amount of his $40-million-dollar payout in Bitcoin in partnership with CashApp.
