OpenSea, the world’s largest digital marketplace for crypto collectibles, officially announced its support for non-fungible token collections minted on Solana.
According to an announcement made today, OpenSea now supports some non-fungible token collections on Solana. The world’s largest digital marketplace for crypto collectibles, has begun listing NFTs issued on the Solana blockchain.
“We are currently supporting 165 collections, and adding more every day,” the team announced.
Users can now buy and trade Solana NFTs on the OpenSea marketplace, according to the company. The low gas rates, efficient energy utilization, and quick transactions of the blockchain system were complimented by the company.
Solana support has been implemented in beta with “limited collection coverage,” according to the marketplace. On OpenSea, the network became the third layer 1 and fourth protocol, allowing collectibles to be traded (the previous three being Ethereum, Polygon, and Klaytn).
Solana’s entry into the main NFT market had been predicted for a long time. OpenSea teased its upcoming support for non-fungible tokens produced on Solana’s ecosystem in a teaser film titled “The best-kept secret in web3” last week.
The integration was described as “huge” by a number of enthusiastic users. Others suggested that it’s a “wise” decision because it allows the company to profit off the Solana hype.
When it comes to minting NFTs, the latter is one of the most popular networks among artists. It even has some important benefits over Ethereum, the market leader.
For starters, Solana can handle high-throughput transactions (up to 60,000 per second) (TPS). Ethereum, on the other hand, can currently process up to 15 TPS.
The latter is likewise chastised for its exorbitant petrol prices. Minting NFTs on the Solana blockchain is less expensive and, in general, faster, as long as the network is not down.
