At one point in 2017, the NFT market was worth $200 million in lifetime sales. Back then, Cryptopunks flagged the NFT bandwagon. At the time of writing, the NFT market is standing at $10.8 billion with many projects, multiplying its growth by 1,785% annually. With such a massive explosion, the Ethereum network is choking on its success in hosting NFTs. Courtesy to the crypto-kitty event where fees went as high as $100. At the moment, there’s some improvement though but it isn’t enough to fully support the entire NFT ecosystem. With the average transaction fee still at around $12.2 as per Etherscan, NFT collectors and projects want alternatives. But what are the best Solana NFT Marketplaces?
A power-sum game means your loss is gain for your competitor. Solana, the emerging blockchain for the NFT market, has established a stronghold as a result. TPS of 65,000 and 0.4-second transaction latency means a robust ecosystem to launch NFTs. As a result, out of 423 new projects, 120 launched on the Solana blockchain. Thus, making it a go-getter in the NFT space. If you are an NFT collector, there are many top NFT marketplaces which you should try on Solana. You can check many NFTs, interact with them at a lower gas cost. In this article, we are covering the top 3 in the space.
What is NFT Crypto?
NFTs are basically digital ownerships tokens, that run on blockchains that support smart-contracts, such as Ethereum. Their non-fungibility is similar to real-world contracts, where you can’t trade one contract to another, because the “actual content” differs from each other. Same things for NFTs, where you can interchange them as their underlying “contract” changes with each one, hence their non-fungible nature.
Are NFTs good to buy in Bear Markets?
What’s good about NFTs is that the purchased price remains on the blockchain. Imagine in “traditional finance”, where people go and buy gold or even “Arts and Collectibles” in order to hedge the equity market’s price fluctuation. In the crypto market, there is a lot of talk about purchasing Digital “Art and Collectibles” in the form of NFT. This helps in preserving your crypto wealth and maybe even increasing the value of your holding.
So far, NFTs are being mostly used as NFT art, but the spread of its real use case is yet to be seen in the global markets. Bear in mind that this is still a new technology, and market adoption tends to be slow in the beginning.
Solana NFT Marketplaces You Shouldn’t Miss
#1. Solanart.io
NFT collectors want to enter at narrow price ranges. The crux is to get the best NFTs at the lowest possible prices. That’s where Solanart wins all brownie points. The marketplace provides floor price entry and it is a good head over to explore NFTs.
Top Featured Projects
- Crypto Idolz
- Degenerate Ape Academy
- Flippies
- Abstratica
- Solarians
- Thug Birdz
- Solana Monkey Business
- Degenerate Ape Academy
- Aurory
- Degenerate Ape Academy
- Thug Birdz
- SolPunks
- Abstratica
Wallet Compatibility
- Sollet
- Phantom
- Sollet
- Phantom
- Solflare
- Solong
There are many wallets that can interact with the NFT marketplace. Here are a few notable mentions;
- Sollet.io
- Sollet Extension
- Phantom
- Solflare
#2. Digitaleyes Market
On Digitaleyes market, NFT collectors can get only the verified collections. The marketplace has parameters for NFTs making entry difficult for all projects. This is generally done to flush out overcrowding in the marketplace. That said, if you are up for some of the famous NFTs, check out Digitaleyes Marketplace.
Top Featured Projects
Wallet Compatibility
#3 Solsea.io
Solsea marketplace enables licensing of NFTs. Thus, the seller has full control over the creative art even after-sales. On top of this, the marketplace allows further tweaking:
1) Public and Private Listing
2) Listing sales in many currency formats (USDT, SOL, SRM)
3) FTX pay enabled for non-crypto users
4) 3 D View of NFTs
5) Faster UI & UX
Top Featured Projects
Wallet Compatibility
Conclusion
Solana entered the market as an ETH killer. Over time, as the NFT craze intensified, the ecosystem has grown in community and project preference. At the moment, one can only be patient and see since once Solana has gone through a DoS attack. Such events ring a bell but the NFT space is ready to embrace the new blockchain ecosystem for sure.
