Newly-announced OpenSea plans on using Solana NFTs as early as April

spot_img

Share This Post

A year ago, in December 2017, OpenSea debuted. As of now, it is the world’s biggest NFT marketplace.

It is crucial that your NFTs be supported on the platform since it leads the market in NFT trading. A project’s success or failure may ultimately depend on the number of users.OpenSea is now being made available to a far broader range of projects. Starting in April 2022, Solana NFTs will be added to the company’s product line.

earlier today, OpenSea sent out the good news (Mar. 29, 2022). Solana’s NFTs will now be able to trade on OpenSea, making it the fourth blockchain network to do so.

Ethereum, Polygon, and Klaytn formerly had OpenSea connections. In terms of NFT sales, Solana is the third-largest blockchain.

More than 1.3 million transactions totaling over $1.26 billion in sales have been completed to far, with 244,107 purchasers.

Solana’s popularity is only going to rise with the addition of OpenSea connectors.

This wasn’t a total shock, to be honest. Tech writer Jane Manchun Wong tweeted in January 2022 that OpenSea was working on Solana integration.

Solana is seen in a 2021 picture published by Scumbags creator B. Haley, displaying OpenSea’s blockchain filter.

A stronger competitor


At the moment, Magic Eden is the dominant platform for Solana NFTs on the Web3 markets.

It has a total of 414,260 merchants and $706 million in revenues. OpenSea, on the other hand, has sold $22.73 billion worth of NFTs to 1.3 million customers. Is it worth it? A whopping $13.3 billion.

Is OpenSea the ideal site to purchase SOL because of its size? The answer is no.

Magic Eden’s cheap transaction costs will make it difficult for OpenSea to compete. A 2% transactional fee is charged by Magic Eden, however, there is no price for displaying your home on the site.

Instead, OpenSea charges a transaction fee of 2.5%. OpenSea customers spend an average of $1,872, compared to $96.50 on Magic Eden. However, the two platforms aren’t necessarily rivals since they serve distinct types of customers.

As a result, MagicEden focuses on consumers who are looking for lower-cost NFTs and faster trading speeds.

However, OpenSea’s addition of Solana to its platform will make SOL more available to a broader range of consumers regardless of which marketplace wins out in the end. In light of this, Solana is now an even more formidable rival in the market.

Solana Monkey Business, Degods, and the Degenerative Ape Academy are just some of the artists whose work will be seen by more people thanks to the Solana blockchain.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related Posts

3 Reasons Why You Are Seeing 12:34 – The Meaning of 12:34

Is 12:34 a coincidence or for real? Number patterns are...

Angel Number 1414 Meaning Revealed

Do you often see 1414 figures on a clock,...

Munchkin Secure Grip Changing Pad Review

This is one of the most clear-cut pads that...

4 Best Smart Home Devices

There are now more and more people equipping their...

Top 10 Best Family Tent Choices

Are you planning to go on a whole family...

All You Need to Know About Xbox 360 Backward Compatibility

The Xbox 360 works well with some games that...
spot_img
- Advertisement -spot_img