$200M Raised for Solana’s ‘COMMing SOON’ NFT Mint

The Solana Virtual Machine’s upcoming project, COMMing SOON NFTs, has quickly gained traction, raising $200 million in subscription pledges within 16 hours of its announcement. The minting process, set to begin at 12:00 PM UTC on January 14, has already been oversubscribed by 8 times.

COMMing SOON NFTs

TWO HUNDRED MILLION DOLLARS 🔴

$200,000,000 has been committed to the COMMing SOON NFT Mint within the first 16 hours of launch.

This makes the mint around 8x oversubscribed.

LFSOON pic.twitter.com/loKNxwVwFz

— SOON – Solana Optimistic Network (Alpha Mainnet) (@soon_svm) January 7, 2025

However, the surge in COMMing’s growing popularity caused rate-limiting issues on X , reportedly impacting users’ ability to connect their accounts to the NFT minting site. The platform acknowledged these issues , which could also indicate the overwhelming demand for COMMing SOON NFTs.

With minting set to launch on January 14 at 8:00 PM Beijing time (12:00 PM UTC), all eyes are on this Solana project.

Solana Virtual Machine’s SOON Project

Apart from the NFT minting figures, the SOON platform recently announced its tokenomics and distribution plans, emphasizing a fair launch approach with no pre-mining, pre-token allocations, or VC privileges. Of the total $SOON tokens:

1. 51% will go to NFT holders (39% via NFTs and 12% as on-chain activity rewards).
2. 25% will support ecosystem builders.
3. 10% is allocated to the team and co-builders.
4. The remaining 14% is split between the SOON Foundation (6%) and airdrop/liquidity efforts (8%).

Notably, the platform drew comparisons to the 2017 ICO days of major infrastructure tokens like Solana, Polkadot, and Avalanche, as it underlines the ‘no pre-mine, no pre-token allocations, and no VC privileges’ feature of SOON token.

Solana’s ecosystem has become a top player with the delivery of many projects. Just yesterday, news emerged about Solana’s second phone, Solana Seeker, which is expected to launch in mid-2025. In October 2024, Solana Mobile’s general manager, Emmett Hollyer, stated that the Seeker is priced at $500 and has received 145,000 pre-orders.

Also Read: Solana-Based AI Cryptos ZAILGO, BUZZ Hit Records; SOL Rebounds

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