The Best NFT Marketplaces on the Solana Blockchain
Solana is one of the most popular blockchains for creating and trading NFTs.
Despite the cryptocurrency's high liquidity and popularity, not all marketplaces can process the Solana blockchain. This is due to the specific architecture of the coin and the significant differences from Ethereum, which was the first blockchain to support NFTs.
Why is Solana better than other blockchains for creating NFTs?
● Large network bandwidth and transaction speed;
● Low commissions;
● Cryptocurrency wallets (Phantom, Sollet) and instant synchronization with NFT;
● Large liquidity and trading volumes.
Even after the FTX collapse, Solana remains a prevalent network due to these advantages. The cryptocurrency is ranked 11th among the crypto assets with a market cap of $1 billion.
The NFT market on Solana is very competitive and filled with many collections and trading platforms.
OpenSea
In 2022, the largest NFT marketplace OpenSea added support for Solana. It is possible to connect to the trading platform through the Phantom browser wallet. Despite this, the home page offers the most popular Ethereum collections, so you need to dig around to find the right NFT.
NFT is created in your account. The user needs to set the collection's name and characteristics and upload the material. Payments are made with the SOL cryptocurrency.
The most popular Solana NFT collection on OpenSea
MagicEden
One of the largest marketplaces on the Solana blockchain. The average daily trading volume is 120,000 SOL (2.8 million). In addition, the platform can process the trading of non-fungible tokens on the Polygon blockchain. Here you can participate in the auction, sell and buy fixed-rate tokens, and create your own NFTs.
MagicEden has an internal launchpad for IEO (Initial NFT Offering). Projects submit applications to host their own products, and users can compete for a whitelist and get the opportunity to buy NFT at the lowest price. The platform is managed by DAO, where you can become a member if you own an NFT Magic Ticket. The current token's value is 2.3 SOL ($57).
Magic Ticket Collection for DAO Access
SolSea
The platform provides access to creativity for both professionals and amateur creators.
Here you can buy artworks, photographs, Play-to-Earn lands and artifacts, custom metaverse avatars, and upgrades for them. The platform also has its own launchpad and enables users to create their own NFTs. To do this, you need a Phantom wallet and SOL cryptocurrency.
SolSea has an internal AART token, which can be staked to use the platform without commissions. The current capitalization is $3 million.
SolSea NFT marketplace home page
There are many other marketplaces (such as Rarible and centralized exchange platforms) that support the Solana blockchain and the main Ethereum network.
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