Solana & NFT: Everything crypto fans need to know about Solana and NFT!

SOL, the native token of the Solana network, has firmly established itself in the top 10 of the global crypto market. The market cap is now approximately US$43 billion. With a price increase of around 30% in the last seven days, SOL is the best coin in the top 10. This should also be related to the booming NFT market and Solana blockchain news. Because in the field of non-fungible tokens, Solana takes a new step. The #2 blockchain in the non-fungible token market continues to build on the future trend. Whether it’s digital art, game features, or merchandise, the Solana blockchain offers a wide variety of NFTs. What should crypto fans know about the Solana blockchain and non-fungible tokens now?

What is Solana?

Solana is a decentralized blockchain solution that relies on high scalability and user-friendly applications. Thanks to the proof of history implemented, transactions with Solana can be processed much faster and more cheaply than is the case with Ethereum, for example. The scaling of Solana aims for global adoption of the ecosystem. The Solana network describes itself as extremely ambitious and not very reserved:

“Solana is the world’s fastest blockchain and fastest growing crypto ecosystem, with thousands of projects spanning DeFi, NFT, Web3 and more.”

OpenSea meets Solana: a win-win situation for both ecosystems

The integration of Solana into the leading NFT trading platform OpenSea has been hotly debated for some time. Again and again there were rumors that just did not want to disappear from social networks. So it’s no surprise that OpenSea put a laughing smile on the official Solana integration tweet and ironically reported web3’s best kept secret.

The Solana channel will already be integrated into OpenSea this month. Although there is no specific date yet. Nevertheless, OpenSea users should also be able to purchase non-fungible tokens mined on Solana in the coming weeks. Currently, the Ethereum-powered NFT market is the most popular choice for non-fungible tokens. At the same time, Solana is the second largest blockchain in the NFT space, behind Ethereum, when estimating market capitalization across the various collections. The NFT market in the Solana ecosystem has grown disproportionately over the past year. As a result, OpenSea and Solana could also benefit from this logical development.

First comes Ethereum, then nothing for a long time and then Solana

Ethereum has been plagued with growing problems in recent years. The Ethereum 2.0 update should finally be completed in 2022 after many years of odyssey. Nonetheless, scaling issues and high gas fees have cost the Ethereum network market share. In the DeFi sector in particular, other blockchains have been able to catch up and win many innovative projects. Nevertheless, the balance of power is clearly distributed in the NFT space. First comes Ethereum and then nothing for a long time. However, the second largest blockchain for non-fungible tokens is already Solana.

Magic Eden, Solanart and Co.: Solana bets on the NFT boom

There are many NFT marketplaces on the Solana network, where non-fungible tokens of various types are available. Solana’s largest marketplace for NFTs is Magic Eden. There have been nearly 20,000 traders here over the past seven days, generating around $6.11 million in trading volume. Solanart follows directly in second place. The average NFT price is almost twice as high here. However, when it comes to the number of traders and the volume of transactions, Magic Eden must be given priority. The Solana ecosystem increasingly relies on non-fungible tokens. This is also revealed by a look at Solana’s official Twitter account, where most of the tweets are tied to non-fungible tokens.

The NFT market is booming: This new NFT market place wants to be number 1!

The OpenSea NFT Marketplace is currently number 1. With the integration of Solana, this should not change in the coming weeks. Nevertheless, a new NFT platform has recently been launched which has great ambitions. The new NFT marketplace is suitable for creating, buying and selling non-fungible tokens. In the medium term, we want to become the best, most accessible and also the safest marketplace. Binance Smart Chain and Polygon are already integrated as a multi-blockchain marketplace – other networks are to follow. NFT LaunchPad’s long-term goal is to become the market leader among NFT trading platforms.

Buy non-fungible tokens on NFT LaunchPad!

Just a few weeks after the launch of NFT LaunchPad, many non-fungible tokens from different collections are available here. After the start of sales of the promising Lucky Block NFTs – after all, the Lucky Block Coin of the same name is the fastest growing cryptocurrency in history – now there are the Walrus NFTs. They are historical figures designed like a walrus. For example, the Walrus Putin or the Walrus Queen Elizabeth 1 are available for purchase.

Currently, purchasing with the Metamask wallet is possible. However, other wallets will soon be compatible with the NFT LaunchPad platform to make purchasing non-fungible tokens even easier and faster.

Daniel Robrecht

After studying law and management, I decided to work as a freelancer. For many years, when writing texts, I focused on the topics of investment, capital markets and business. In my private life, not a day goes by without the stock market, stocks and the like.

Every transaction is risky. No guarantee of winning. Any content on our website is for informational purposes only and does not constitute a recommendation to buy or sell. This applies to assets as well as products, services and other investments. Opinions expressed on this site do not constitute investment advice and independent financial advice should be sought where possible.

Leave a Comment