Solana NFTs to Get a Boost with Upcoming OpenSea Support

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Source: a video screenshot, OpenSea / Twitter

 

Non-fungible tokens (NFTs) based on Solana (SOL), a public blockchain and a rival to Ethereum (ETH), are slated to get a boost as the major NFT marketplace OpenSea prepares to add support for these digital assets.

In a Tuesday tweet, OpenSea all but confirmed its intentions to add support for Solana NFTs, a move that would provide the platform’s 1.49 million users exposure to NFTs based on the Solana chain.

In its “the best kept secret in web3” video, OpenSea seemingly answered the popular “wen solana?” question, teasing that a launch could come by as soon as April. Notably, the firm did not speak of a specific launch date.

Should OpenSea proceed with this plan, Solana would become the third Layer 1 and fourth blockchain network OpenSea will support after Ethereum, Polygon (MATIC), and Klaytn.

Meanwhile, NFT insiders have been expecting this news. In fact, earlier this year, tech blogger Jane Manchun Wong revealed that OpenSea’s chains filter showed Solana as an option.

According to DappRadar, based on the number of users, Magic Eden (40,500) is currently the dominant NFT marketplace on Solana, followed by Orca (26,080), and Raydium (11,220). However, the move by OpenSea could have an impact on the number of users of these marketplaces. 

Based on volume, the first three places 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 said in late 2021 that expansion to other blockchains was a priority for the NFT marketplace.

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Learn more: 
– Solana Outpaces Ethereum
– Solana’s Network Congestion Prompts Liquidations, Drives Away Users

– OpenSea’s Trading Volume Remains in a Downtrend Amid Recent Attacks
– Decentralization Debate Heats Up Again as MetaMask, OpenSea Block Users

– Another Expensive NFT Gets Mistakenly Sold at Large Discount – How Does That Happen?
– NFT Market Cools Down As Ukraine War Pushes Investors Toward Safe-Haven Assets

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