Solana VM Raises $200M for ‘COMMing SOON’ NFT Project

 
Ritu Lavania
Written By 
Ritu Lavania
January 7, 2025

The Solana Virtual Machine’s 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

 

However, the surge in COMMing’s growing popularity caused rate-limiting issues on X , reportedly impacting s’ ability to connect their s 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 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.

 

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Ritu Lavania
Written by Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. ionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.