Prices of Bonkz NFTs have surged 10 times since their initial mint on Tuesday, attracting over $900,000 in trading volume after all 15,000 collectibles were sold.

Over 6,165 individual wallets hold these collectibles at writing time, data from Solana marketplace Magic Eden shows. The collectibles are based on the popular Shiba Inu-themed Solana project Bonk Inu, which did not directly take part in Bonkz’s creation.

The BONK collectibles are purely art-based with no imminent plans for utility, its creators told CoinDesk yesterday. Pricing for the mint – a term that refers to the initial issuance of any NFT – was $25 worth of BONK, and secondary trading will be transacted with solana (SOL) tokens.

Each NFT sells for over $280 worth of solana at writing time. All BONK used to purchase these NFTs were burnt – a term referring to when tokens are permanently taken out of supply – meaning over $250,000 worth of bonk’s token supply was removed from circulation on Tuesday.

As such, a certain feature of the NFT attracted criticism among community members.

(By Shaurya Malwa)