Solana NFT Marketplace to Launch TNSR Token

12 March 2024

in Solano

Reading Time: 2 mins read

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Tensor, the Solana-based NFT marketplace, introduces its governance token called TNSR. This information was recently passed on by the foundation through a post shared on the X platform.

Introducing $TNSR – the future of NFT trading.$TNSR will govern Tensor protocols that have already traded over $2bn worth of NFTs on the fastest, most scalable blockchain – Solana. pic.twitter.com/eff2IxGOwr

— Tensor Foundation (@TensorFdn) March 12, 2024

The numbers show that Tensor outpaced other platforms in volume terms with a whopping $2 billion worth of Solana NFTs swapped for its users. This marks a substantial uplift from the $7 million figure which was reported.

Furthermore, NFT (Non-Fungible Token) future applications can be empowered by making FinNFT token holders benefit from extensive industry use. The platform provided around 70% of all NFT trades done on the Solana network for the last quarter, without taking into account the wash trade.

According to data analysis reported by Cryptoscam, the popularity of Solana NFTs is seeing continuous growth and the volume for December 2023 just surpassed $200 million.A year ago, the startup gained $3 million in investments that it intends to invest in the development of itself as a private marketplace for the Solana NFTs.