The Solana Virtual Machine’s upcoming project, COMMing SOON NFTs, has quickly gained popularity, raising $200 million in subscription commitments within 16 hours of its announcement. The minting process, which begins at 12:00 UTC on January 14, has already been oversubscribed eight times.
NFTs SOON
TWO HUNDRED MILLION DOLLARS 🔴
$200,000,000 was allocated to the COMMing SOON NFT Mint within the first 16 hours of launch.
This makes the coin approximately 8x oversubscribed.
LFSOON pic.twitter.com/loKNxwVwFz
— COMING 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, which reportedly affected users’ ability to connect their accounts to the NFT mint site. The platform acknowledged these issues, which could also point to the overwhelming demand for COMMing SOON NFTs.
With the coinage set to begin on January 14 at 8:00 PM Beijing time (12:00 UTC), all eyes are on this Solana project.
Solana Virtual Machine’s SOON project
In addition to the NFT coin figures, the SOON platform recently announced its tokenomics and distribution plans, emphasizing a fair launch approach without pre-mining, pre-token allocations, or VC privileges. Of the total $SOON tokens:
- 51% goes to NFT holders (39% via NFTs and 12% as rewards for on-chain activities).
- 25% support ecosystem builders.
- 10% is allocated to the team and co-builders.
- The remaining 14% will be 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 such as Solana, Polkadot and Avalanche, as it adopted the ‘no pre-mine, no pre-token allocations and no VC rights’ feature of the SOON token underlined.
The Solana ecosystem has become a top player with the delivery of many projects. Yesterday, news emerged of 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 costs $500 and has received 145,000 pre-orders.
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