World's largest NFT marketplace opens its doors to Solana blockchain

World’s largest NFT marketplace opens its doors to Solana blockchain

8 April 2022

in NFT

Reading Time: 2 mins read

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OpenSea has announced the release of the official beta that integrates the Solana (SOL) blockchain onto the world’s biggest NFT marketplace.

OpenSea announced the news via its official Twitter account and stated that on April 7, NFTs created on the Solana blockchain will be able to be traded on the marketplace. Before Solana’s integration, the OpenSea marketplace mostly consisted of Ethereum-based NFTs, along with Polygon and Klatyn blockchains. The integration of Solana gives creators and option to trade on a platform that has notoriously cheap gas fees, efficient energy usage, and fast transactions.

The NFT trading platform has announced that it has already added 165 Solana-based collections to the marketplace and is continuing to add more every day. OpenSea adopting the Solana blockchain is a move to capture more of the NFT market and expand its horizon.

Recently, OpenSea raised $300 million following a valuation at $13 billion in January, and with it already being the largest NFT marketplace by trading volume, it will be interesting to see how the Solana adoption impacts Solana-based marketplaces such as Magic Eden, which is the dominant trading platform on the Solana network.

Jak Connor

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak’s love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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