Solana NFTs Will Join OpenSea in April

Share This Post

Solana NFTs will soon become the fourth blockchain on OpenSea

OpenSea released a short teaser video on Twitter, revealing Solana NFTs will be joining the marketplace.

Since January, many developers have been aware of the high-performance blockchain joining the marketplace due to OpenSea’s web code readily supporting Solana digital wallets. Thus, the word has been circling the Web3 space since the beginning of the year. 

USING SOLANA ON OPENSEA

The process of trading and buying Solana on OpenSea will be similar to using Ethereum, Polygon and Klatyn. The only difference includes needing a Solana-compatible wallet to purchase Solana-based items because of being a completely different blockchain than Ethereum.

Solana’s entire collection of NFTs will be visible on OpenSea – whether or not they are for sale. Collectors will also be able to receive and accept offers from other Solana NFTs without listing their own.

OPENSEA VS. MAGIC EDEN

Currently, Solana’s cryptocurrency token (SOL) is traded and purchased on the marketplace, Magic Eden.

Magic Eden benefits Solana in many ways, allowing members to trade using only SOL tokens (unlike OpenSea which has three other cryptocurrency options), and charges 2% for service fees rather than 2.5%.

But despite Magic Eden’s advantages, OpenSea is a challenging competitor for Magic Eden to level with. OpenSea mops up billions of dollars of trading each month, hitting a market cap of $5 billion in January alone, and is valued as the largest marketplace worldwide with a market cap of $13.3 billion.

Subscribe to the NFT Lately newsletter to receive news covering the latest NFT drops, releases, reviews and more.

spot_img

Related Posts

What is NFT Staking? | A Comprehensive Guide

NFT staking is a relatively new concept in the...

Ledger Launches Stax, a New Hardware Wallet for NFTs: What You Need to Know

Ledger, a digital asset security company, has announced the...

The Memes by 6529 Review – Are Memes The New NFT Meta?

Memes have been an important part of popular culture...

What Are Phygital NFTs? | Everything to Know (With Examples)

Phygital NFTs, or "Physical Digital Non-Fungible Tokens," are a...

Coming Soon: Opera Crypto Browser to Enable NFT Minting in Real-Time

Alteon Launchpad assists Opera Crypto Browser to enable NFT...

Why Did Logan Paul Get Into NFTs: The Main Reasons

Logan Paul, the popular YouTuber and social media personality,...

Related Posts

Mattel Launches an NFT Marketplace With Hot Wheels Collection

Mattel announced a new NFT marketplace as it expanded...

Porsche Makes Its Web3 Debut With Its First NFT Collection

The luxury sports car manufacturer announced its official entry...

What You Need to Know About This NFT Market Crash

NFTs have already changed the world. Now it's time...

What is USDTe? A Full Guide to Avalanche Tether

USDTe is a stablecoin on the Avalanche blockchain that...

Stripe Launches Fiat-to-Crypto Payment Service for Web3 Companies

Stripe, a payment processing business, unveiled a "fiat-to-crypto on-ramp"...

Yuga Labs’ Leaked Financials Show Insane Profits

Leaked data shows that Yuga Labs has sold more...