According to a tweet, OpenSea confirmed that Solana non-fungible tokens (NFTs) are coming to its marketplace for digital collectibles.
The firm, valued at over $13 billion, sarcastically disclosed “the best kept secret in web3” in a “wen solana?” video hinting at the April addition – but withholding an actual date.
For much of 2022, industry insiders had been anticipating this announcement. Jane Manchun Wong, a tech blogger, noticed strong indicators that the company was evaluating support for Solana wallets in late January. The company’s web code is replete with mentions of the speedy and affordable chain even on Tuesday.
After Ethereum, Polygon, and Klaytn, Solana would be the third layer 1 and fourth blockchain network whose NFTs can trade on OpenSea. According to data tracker CryptoSlam, Solana is second only to market leader Ethereum in all-time NFT sales.
Magic Eden, the primary marketplace for Solana NFTs, may face a challenge as a result of the company’s expansion.
According to a Dune Analytics dashboard, Magic Eden now has a 90 percent market share in Solana NFT sales in the last week.
The 2 percent transaction fee charged by Magic Eden is 50 basis points lower than that charged by the company, giving buyers and sellers a minor advantage. It remains to be seen whether this will be enough to keep the market leader at bay.
