Solana NFTs Continue To Rise in Popularity
This is likely due to its relatively low fees and new marketplace integrations with sites like Rarible and OpenSea.
Solana-based NFTs have started to pick up some significant attention from investors. The leading Solana-based collection DeGods is valued at 369 SOL each (roughly $36,900 USD) and the recent rocket of a project, Okay Bears, had a day one secondary volume of over $18 million USD.
The Okay Bears opening day volume was significant for the platform, due to the fact that it was the first time a Solona-based project exceeded the 24-hour volume of any competing Ethereum-based blockchain project. Other notable reasons for the blockchain’s growing popularity can be attributed to its energy efficiency as it goes completely carbon neutral.
1/ Solana was built to be an incredibly energy efficient chain.
The most recent energy impact report from @SolanaFndn found that a Solana transaction uses around the same energy as a few Google searches – 2,707 Joules, to be precise. https://t.co/5spnJt8fHl pic.twitter.com/t3v4Y2WpZu
— Solana (@solana) April 22, 2022
Another aspect that is a likely reason for the blockchain’s continued success would be its efforts to form partnerships. Solana recently partnered with NFT marketplaces OpenSea and Rarible, allowing users of these platforms to purchase SOL native NFTs directly on the respective sites.
While Ethereum does remain the leading blockchain for NFTs, Solana is proving that there is room for competition. With less than 3M people of the 7.9B global population even being invested in NFTs — it is assumed by many in the space that there will be continued growth and emergence of other significant blockchains, as well as NFT platforms.
In other web3 news, ENS Domain Frenzy Sees Over $1M USD in Secondary Revenue in 24 Hours.