Brace yourselves! Solana NFTs will soon dominate the marketplace!
Solana launches NFTs with an exclusive marketplace!
The next generation of NFTs are on the Solana Blockchain! Here’s all you need to know!
Cryptocurrency token Solana has continued to dominate the cryptocurrency market despite the fluctuations. In August 2021, its price tripled. Solana crossed the 100 dollar mark by the end of August, a 3200% growth from August 2020.
Now the 7th largest coin in the marketplace, the coin has exceeded the $54.7 billion in market cap, bringing a new wave of investors to the project. One of the primary factors propelling this move towards new heights is Solana’s introduction of NFTs and smart contract offerings along with Defi.
Defi and NFT platforms are decentralized options built by developers on a blockchain. A Defi platform is a space where investors pool their money and make it available for other crypto investors to borrow — something like a bank.
But what’s been buzzing are the NFT platforms. NFTs or non-fungible tokens are digital assets such as photos, videos, music, scriptures tokenized in the blockchain and holds value due to their uniqueness.
The term NFT has been the internet’s newfound favorite word, with the heavy interest shown worldwide to build digital assets, and Solana is now seen as the ideal destination to do so.
The State of NFTs
The Ethereum blockchain continues to dominate a significant portion of the NFT sales worldwide. The marketplace OpenSea that runs on the Ethereum blockchain accounts for nearly 97% of the total NFT sales.
In August 2021 alone, OpenSea made $3.08 billion worth of sales out of the $3.25 total sales volume. Other platforms that work on the Ethereum blockchain are Rarible, Mintable, and Axie Marketplace.
Along with the new players, there has been significant growth in the other blockchains — especially Solana. The most recent NFT boom has taken place on Solana, which is now trying to compete against Ethereum aggressively.
Solana’s marketplace Solanaart — a space dedicated to listing NFT art has seen tremendous market volume and is leading the way.
On the Solana blockchain, several NFT marketplaces are gaining traction by the day.
1. Solanaart.io — the most stable and the largest NFT marketplace, operating on Solana. It is a stable platform and a comprehensive collection of NFT art available to mint
2. Digitaleyes.market — Currently at Alpha, it isn’t completely functional yet. It has a diversified collection from digital art, videos, photos, and much more
3. SolSea.io — Easy to use, search and explore NFTs with options for NSFW NFTs. The relaunched version has a comprehensive reach of different options to choose from and mint
The 1st ever Million dollar Sale
As Solana’s price went on to hit an all-time high of $214.36 in September, the blockchain saw its first million-dollar NFT sale. The collectible sold was the Degen Ape #7225, an NFT from the Degenerate Ape Academy.
The NFT was purchased by the Blockchain advisory firm Moonrock Capital for 5,980 SOL, which amounted to about $1.1 million.
The Degen Ape #7225, a zombie version of an ape with a halo, a gold tooth, and a brain in its mouth, is the 13th rarest collectible.
Moonrock Capital also purchased the 18th rarest SolPunk NFT — the Solana-themed CryptoPunks — for 1,386 SOL ($260,000).
Earlier sales were higher than the Degen Ape #7225, such as the Degen Ape #1674, which was sold for 7,000 SOL, but at the time, the SOL token price was not where it is today.
The million-dollar sale marks a new beginning for the blockchain. With momentum by their side and continuous appreciation, more and more investors favor Solana as a preferred crypto token.
The launch of NFTs is giving them more reasons to come on board.
A preferred destination over Ethereum
Since its inception, the Ethereum blockchain has become the go-to destination for NFTs, but this trend is slowly changing hands. The high gas fees in the Ethereum blockchain have made investors look outside of ETH, and Solana comes as a fitting replacement.
Most investors note the distinctive advantages Solana brings to the table and are currently looking at other ways to enter into the Solana NFT market.
YouTube sensation KSI was one of the first movers who picked up on this trend by purchasing the Solana Monkey Business NFT earlier this month and made noise on social on the advantages.
He tweeted, “Ethereum fees are too high atm, so man is moving onto Solana, GOML” — meaning Get On My Level.
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https://twitter.com/KSI/status/1436121394509660164?s=20
Other celebrities have also followed suit, with television show host Steve Harvey changing his Twitter profile photo to a Solana Monkey Business NFT recently.
A growing NFT ecosystem
With Solana picking up traction on social media, more content creators turn to the blockchain to list their NFTs. The rising price of the SOL token is complimenting this growth.
Key advantages with SOL NFTs:
1 Very low fees
In comparison to its competitor, Ethereum, minting an NFT is considerably low. Ethereum reached an all-time high transaction fee of $59 on September 11th. However, this rate fell, and later in September, the average transaction fee remained at $29, according to BitInfoCharts.
If you are getting started as an NFT collector, this amount can be a rude shock. For SOL NFT purchases, this figure drops to less than 10%, and for most purchases, it is less than a dollar.
2 Fast transaction processing time
the Solana blockchain is fast and responds to purchases instantly
3 Phantom Wallet is more user-friendly than MetaMask
If you’ve tried to purchase NFTs on OpenSea or opened a MetaMask wallet to store your cryptocurrencies, you know that it can be hard to operate at times. But the Phantom Wallet, in comparison, is easier to handle, even for a complete beginner.
A New category of NFTs Empowered
While OpenSea and other mainstream NFT marketplaces have shown no interest in appreciating adult art and erotic illustrations, marketplaces on the Solana blockchain have given new hope.
The creative artists who create erotic art have found purpose in the NFT marketplaces on the Solana Blockchain. Platforms such as Solsea.io have already made space for NSFW NFTs on the top of their list and are also heavily interested in accommodating more creators in this niche.
This move comes as good news for thousands of erotic art enthusiasts and creators who’ve been pushed around constantly.
Another exciting addition to the erotic art NFT marketplace is the inclusion of Aiko — the first erotic art AI NFT that SOL will power. The first of its kind will be an AI NFT that generates fantasy avatars (Aiku) at random, combining over 10,000 unique layers.
Another plan in place for SOL NFTs is an exclusive Erotic Art NFT Marketplace that the creators of Aiko are expecting to launch towards Q2 of 2022. The space will be an entire unrestricted space for all erotic art creators to express themselves.
A start of greater horizons
The Solana NFT marketplace is just starting, and it is all very new. Soon, you will see a ton more projects popping up, and it is going to be an exciting time to be following the developments of SOL.
As a collector, the SOL NFT marketplaces where you should be giving your undivided attention in the coming few months with a lot more announcements lined up.
