Wen Solana? Now Solana, OpenSea is finally ready to begin supporting Solana-based NFTs, and this puts a different spin on the entire NFT ecosystem
OpenSea x Solana blockchain
Telling you how OpenSea is the most extensive marketplace for NFTs will make me sound like a broken record, so I’ll breeze through that. If you’re not familiar with the NFT space, OpenSea is number one in terms of marketplaces, and no other marketplace comes close.
OpenSea supports Ethereum, Polygon, and Klatyn blockchains, and for a while, the most significant exception to the OpenSea family was Solana NFTs, and this led to a lot of Wen Solana questions. A few days ago, towards the end of March, OpenSea teased its upcoming support for Solana NFTs, and now it seems like the dream and wish of many NFT stakeholders is currently becoming a reality.
For a considerable amount of NFT stakeholders, the journey to getting Solana NFTs listed on OpenSea seemed like one that would never end. It’s vital for Solana NFTs to be based on OpenSea because it’s the Google of NFT marketplaces, and to a myriad of people if it’s not on Google, it doesn’t exist.
From the look of things, we are beginning to see a few Solana-based collections being listed on OpenSea denominated in SOL. Many industry players are touting OpenSea to be the push Solana NFTs need to become a more significant and more extensive NFT marketplace.
It’s Solana O’clock
If you visit opensea.io, you’ll find a few Solana NFTs listed on the platform and denominated in SOL, Solana’s cryptocurrency. One of the most famous Solana NFT collections posted on OpenSea so far is Solana MonkeyLeague.
Over the last few hours and days, a lot has occurred regarding the adoption of Solana NFTs on OpenSea, and following the publication of a report, most functionalities became unavailable. The sudden unavailability of functionalities relating to Solana support might be a manifestation of the beta process.
When companies plan to launch products or functionalities, they usually launch a beta version to a limited number of users then, after iterations and upgrades, they make the full product available to the general public.
A healthy number of marketplaces are currently supporting Solana, and the latest addition by OpenSea is bound to have a significant impact on the general NFT ecosystem.
What does this mean for Solana NFTs?
According to a Q1 report by Metaplex Foundation, over 9.7 million Solana-based NFTs have been minted when you consider the fact that in March 2022, Solana facilitated about $173 million in NFT trading, volume via a CryptoSlam report. Will Solana surpass Ethereum volume?
The future looks exciting for Solana NFTs, especially with the first OpenSea Solana launchpad project dropping on July 20th. Furthermore, it’ll be exciting to witness the amount of impact that OpenSea will have on the growth and adoption of Solana over the next few months. OpenSea has shown that it is not shy about expanding aggressively, and it’ll be invigorating to figure out the next blockchain OpenSea will adopt.