The Solana ecosystem is rapidly expanding. Since Solana’s first iconic NFT drop ‘Degenerate Ape Academy’, NFT projects and digital art have never been so plentiful on the platform.
When it comes to choosing the best NFT marketplaces on Solana, there’s an array of options available, which offer varying benefits.
A rising star in the crypto galaxy, Solana blockchain is attracting 300,00 daily active users – knocking on the doors of current blockchain kingpins Ethereum. Choosing the right marketplace for you requires a little bit of research.
Solana may be the most exciting new addition to the crypto ecosystem, with multiple, interesting marketplaces to buy, sell and trade your Solana NFTs.
What makes the Solana blockchain so exciting? Solana prides itself on being one of the fastest, cheapest, and most user-friendly blockchains in the world. While Ethereum dominates the market at present in terms of trading volume, its high service fees have opened the doors for aspiring blockchains like Solana to burst onto the scene.
Which Solana NFT marketplace to choose for you? Let’s take a look at 5 of the best!
Solanart
Solanart was the first Solana NFT marketplace that allowed anyone to acquire or sell Solana NFTs. Solanart is dedicated to promoting artists and creators and giving them a “trust-less marketplace to sell their art.”
In terms of fees on Solanart, they charge a 3% transaction fee and the creator of the NFT will ultimately decide what the creator’s fee (royalties) will be – which will be included in the selling price. If you’re looking for a dedicated NFT art marketplace on Solana – you can’t go much wrong with Solanart.
Magic Eden
Welcome to the leading Solana NFT marketplace. Magic Eden prides itself on building the
“biggest and most liquid NFT marketplace” and charges 2% for every transaction.
Much like Solanart, Magic Eden honors the creators’ fees immediately and those fees are paid with every transaction.
Concerned about Solana NFT scams? Magic Eden has got your back! This marketplace has a “verified” checkmark, which confirms the authenticity of the NFT, meaning the collection was issued by the owner of the collection themselves.
Magic Eden appears to be going places. The rapidly expanding NFT marketplace just announced that they will be creating their own DAO (Decentralised Autonomous Organisation), aptly named MagicDao, and will be air-dropping 25-30,000 NFT membership passes to active users.
Solsea
The first open NFT marketplace on Solana, Solsea enables creators to choose and embed licenses when they create Solana NFTs.
With its integrated NFT minting system with embedded licenses, Solsea can calculate Rarity Rank for NFT collections. This marketplace is regularly updated with new features and supports wallet funding with FXT-pay and Moonpay.
Solsea supports multiple Solana wallets and has a calendar for all major NFT drops on Solana – so you can stay in touch with all the latest collections!
Transaction fees for Solsea are 3% and much like the previous two NFT marketplaces, royalties for creators are honored immediately!
Metaplex
Here’s a marketplace with a distinguishable trait – they allow you to customize and create your own ‘store front’. Artists and creators can “launch their own, self-hosted NFT storefronts as easy as building a website.”
Metaplex launched itself as an NFT marketplace in June 2021 with support from cryptocurrency exchange FTX. Recently, Metaplex turned its attention to the metaverse – recently raising $49million in a token round which involved Michael Jordan amongst other notable names. This will allow Metaplex to expand its support for metaverse and gaming applications, making it one of the rising stars in the realm of Web3-focused Solana marketplaces.
Metaplex also prides itself on low fees, currently keeping the average service fee at less than $1, with no platform fees.
Solanalysis (Hyperspace)
Solanalysis is a date-focused site, which carved itself a nice niche as a platform where users could monitor price changes and compare prices of Solana-based NFT collections easily.
Recently, following a $4.5 million seed round led by Dragonfly and Pantera capital, Solanalysis rebranded to ‘Hypserspace‘ and has added lots of attractive new features as it looks to expand.
Users can track the value of their own NFTs and NFT projects can now launch new collections on the site.
If that wasn’t enough, Hyperspace is looking to incorporate an aggregator, which would allow users to purchase NFTs from any major Solana NFT marketplace on the platform.
The decision is yours…
Since the birth of Solana in 2020, founder Anatoly Yakovenko has been bullish about his intentions – to one day reach 100 million users and gain mass adoption. If you’re ready to jump aboard the Solana train, whether you want to buy Solana NFTs or mint NFTs on Solana, choose the right marketplace which addresses your needs.
Happy shopping to all you digital art collectors and happy minting to all your digital art entrepreneurs!
