- The popularity of Solana and NFTs created on its blockchain continues to rise, and the TOP 3 marketplaces to visit for the best Solana experience, are Magic Eden, Solsea and Solanart.
Due to the growing institutional interests of NFTs and DeFi, Solana is now among the top 10 cryptocurrencies by market value on coinmarketcap. Solana has a TPS (Transaction Per Seconds) of over 2000 which is a lot faster compared to Ethereum’s TPS of 15 – and a lot cheaper as well. So, Solana is used as the best Ethereum alternative when it comes to non-fungible tokens for three reasons: High TPS, growing platform and lower gas fees. It has a huge community as well and the number of NFT projects on Solana is rising at a fast pace.
Opensea is the largest NFT marketplace that mainly supports Ethereum, Klaytn, and Polygon chains. Opensea has recently added the Solana network but it is still in beta (testing phase) – that is why we haven’t included Opensea in our list of the top 3 NFT marketplaces based on Solana.
1. Magic Eden
Magic Eden is one of the most famous Solana NFT marketplaces to create and trade NFTs. There are fewer projects on the platform at the moment, but every new project will get maximum exposure. Magic Eden charges no fees to list NFTs, however, there is a 2% transaction fee. The platform has added support for almost all Solana-based wallets. Creators get to choose the royalty fees they’ll be getting on the secondary sales. Magic Eden requires only the basic technical skills to mint, list, or trade NFTs. The platform has its own launchpad, where even one of the most recently popular NFT project Okay Bears has been launched.
Solanart is a platform to discover, make, collect and trade Solana NFTs. The platform currently supports Solflare, Phantom, Clover, Sollet, MathWallet, Slope, Ledger, and Sollet Solana wallets. Solanart allows creators to set their custom royalty fee and charges 3% as a transaction fee on top of that. Solanart is the main Solana-based NFT art marketplace that allows NFT novices and amateurs to trade with ease. Solanart has a dedicated NFT launchpad that offers NFT projects to launch their projects and with the count down to a new launch, Solanart alerts the buyers to not miss the next big NFT project – we all know FOMO (Fear Of Missing Out) hits hard.
Solsea is the first NFT marketplace to support artists to buy and mint their NFTs and offers a rarity ranking to help buyers and sellers value their NFTs accordingly. Valuation of NFTs is a difficult factor to address and most of the creators do it by speculating and based on competitors, which is against the non-fungibility of these assets. The rarity-based ranking helps them achieve it effortlessly. The Solsea calendar feature is quite a useful tool for NFT enthusiasts as they can know about the upcoming NFT projects before they’re even launched. Solsea has a built-in minting function and the platform charges a 3% trading fee.
The NFT market started out on Ethereum, however, people soon discovered the benefits of using the Solana network. After that, several cool Solana-based marketplaces have been created, so if you want to trade Solana NFTs, check out these TOP 3 recommended sites.
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sources: solanart,solsea, magiceden
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.