OpenSea launched in December of 2017. In the present day, it stands as the most important NFT market on this planet. Because it dominates the market in relation to NFT buying and selling, guaranteeing that your NFTs are supported on the platform is critically essential. On the finish of the day, their consumer quantity might make or break a challenge.
And now, much more initiatives are about to get entry to OpenSea. The corporate simply introduced that they are going to add Solana NFTs beginning in April 2022.
OpenSea unveiled the information on Twitter earlier at this time (Mar. 29, 2022). With this transfer, Solana will turn out to be the fourth blockchain community whose NFTs can commerce on OpenSea. Beforehand, OpenSea added integrations that help Ethereum, Polygon, and Klaytn. Solana is the third-largest blockchain when it comes to NFT gross sales. So far, there was over $1.26 billion bought to 244,107 consumers throughout greater than 1.3 million transactions. And it stands to purpose that OpenSea integrations will solely enhance Solana’s recognition.
This announcement wasn’t fully sudden. In January 2022, tech blogger Jane Manchun Wong tweeted that OpenSea was engaged on Solana integration. Scumbags founder B. Haley tweeted a similar image exhibiting OpenSea’s blockchain filter that includes Solana in November 2021.
A stronger competitor
In terms of Web3 marketplaces, Magic Eden is presently the main platform for Solana NFTs. It has some 414,260 merchants and $706 million in complete gross sales quantity. For comparability, OpenSea has recorded $22.73 billion in NFT gross sales because of its 1.3 million consumers. And its value? A staggering $13.3 billion.
However does its dimension make OpenSea one of the best place to purchase SOL? Not essentially.
OpenSea can have a tricky time competing with Magic Eden’s low transaction charges. Magic Eden prices a 2% transaction charge, nevertheless it has no itemizing charge. OpenSea, then again, prices 2.5% on each transaction. Whereas the common transaction on Magic Eden is simply $96.50, OpenSea customers spend a mean of $1,872. However the two platforms don’t essentially want to think about themselves opponents – they merely cater to totally different sorts of consumers. Particularly, MagicEden is geared extra in the direction of customers who need lower-cost NFTs and better velocity buying and selling.
However no matter what market wins out ultimately, by including Solana to its platform, OpenSea is making SOL extra accessible to a higher variety of customers than earlier than. Because of this, after this announcement, Solana is an excellent stronger competitor within the area. It’s particularly thrilling for artists creating initiatives on the Solana blockchain – similar to Solana Monkey Enterprise, Degods, and the Degenerative Ape Academy – who will obtain much more eyes on their work.
This was a growing story and was up to date.
Source: NFT Now