NFT

Solana NFTs to Get a Boost with Upcoming OpenSea Support

Supply: a video screenshot, OpenSea / Twitter

 

Non-fungible tokens (NFTs) primarily based on Solana (SOL), a public blockchain and a rival to Ethereum (ETH), are slated to get a lift as the foremost NFT market OpenSea prepares so as to add help for these digital property.

In a Tuesday tweet, OpenSea all however confirmed its intentions so as to add help for Solana NFTs, a transfer that would supply the platform’s 1.49 million customers publicity to NFTs primarily based on the Solana chain.

In its “the perfect saved secret in web3” video, OpenSea seemingly answered the favored “wen solana?” query, teasing {that a} launch might come by as quickly as April. Notably, the agency didn’t communicate of a particular launch date.

Ought to OpenSea proceed with this plan, Solana would turn into the third Layer 1 and fourth blockchain community OpenSea will help after Ethereum, Polygon (MATIC), and Klaytn.

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In the meantime, NFT insiders have been anticipating this information. In actual fact, earlier this 12 months, tech blogger Jane Manchun Wong revealed that OpenSea’s chains filter confirmed Solana as an choice.

In accordance with DappRadar, primarily based on the variety of customers, Magic Eden (40,500) is presently the dominant NFT market on Solana, adopted by Orca (26,080), and Raydium (11,220). Nevertheless, the transfer by OpenSea might have an effect on the variety of customers of those marketplaces. 

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Based mostly on quantity, the primary three locations are occupied by Raydium (USD 308m), Solend (USD 51.7m), and Magic Eden (USD 41.8m).

As reported, OpenSea CEO and co-founder Devin Finzer mentioned in late 2021 that growth to different blockchains was a precedence for the NFT market.

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Study extra: 
– Solana Outpaces Ethereum
– Solana’s Community Congestion Prompts Liquidations, Drives Away Customers

– OpenSea’s Buying and selling Quantity Stays in a Downtrend Amid Latest Assaults
– Decentralization Debate Heats Up Once more as MetaMask, OpenSea Block Customers

– One other Costly NFT Will get Mistakenly Offered at Giant Low cost – How Does That Occur?
– NFT Market Cools Down As Ukraine Warfare Pushes Traders Towards Protected-Haven Belongings



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