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Top 8 NFT Markets Built on the Solana Blockchain

In this post we show you the list of the 8 main NFT markets built on the Solana blockchain, one of the most environmentally friendly blockchains. NFTs were one of the big trends within the crypto industry in 2021. Most of the platforms for non-fungible tokens (NFTs) are built on the Ethereum blockchain, which has increased network congestion and further raised their gas costs. This has made other next generation blockchains, such as Solana, gain great popularity, due to its high performance and scalability.

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Solana facilitates a development ecosystem that is much more accessible to everyone, in terms of fees and transaction speed. Furthermore, this blockchain is considered up to 2 million times more environmentally efficient than Ethereum. At least, that is what the Solana Foundation highlighted in a report on energy efficiency published in November 2021. All these circumstances have driven its growth and development at an accelerated rate.

 

8 NFT markets in Solana

 

Next, we show you the main NFT markets built on the Solana scalability network

Magic Eden

 

Magic Eden is currently the leading NFT marketplace on the Solana network, with over 6.2 million SOLs traded within its platform to date. This figure is equivalent to about US$589 million, based on SOL’s current price of US$94.6 per unit. Magic Eden brings together several of the most in-demand crypto collections on the web, such as Degenerate Ape Academy, Portals, MonkeLabs, Solana Monke Rejects, and Thugbirdz. In the last hours, the volume traded within this NFT market amounts to 78,130 SOL (about 7.39 million dollars).

Magic Eden, Solana NFT Market

 

Unlike Ethereum, Magic Eden lowers the barriers to entry into the world of NFTs thanks to its low fees and ultra-fast transactions. In early December 2021, Magic Eden’s daily transaction volume surpassed Opensea’s, despite the Solana market having fewer active users than Opensea.

This NFT marketplace was officially launched in September 2021, to facilitate the minting, trading, and storage of NFT tokens within the Solana Network ecosystem. Some of its most famous collections, such as Degenerate Ape Academy and Thugbirdz, have been criticized for their similarity to Ethereum’s Bored Ape Yacht Club and CryptoPunks crypto collections . But the high demand for these tokens underscores that this is a strong and ever-growing community.

 

Solanart

 

Solanart was one of the first NFT marketplaces built on the Solana blockchain. This is a curated marketplace where you can buy, sell, and trade NFTs from a wide range of different collections. From this platform, it is also possible to organize auctions and creators can generate royalties from the sale of their works within the platform. Being a curated marketplace, Solanart filters the NFT collections that can be traded on the platform, to ensure access to projects of value and utility.

Solanart

 

Currently, Solanart is the second NFT market in the Solana network in terms of volume traded. With more than 4.8 million SOL (about 455 million dollars) in sales, at the time of this edition. This market generates about 1,000 NFT sales per day, as indicated on its web portal. The most active NFT collections within this platform are: Degenerate Ape Academy, Aurory, SolPunks, Galactic Gecko Space Garage, and Bold Badgers. 

 

Solanart does not hold ownership of NFTs, it creates a temporary account at the time of trading an asset. Users can connect different wallets, such as Phantom, MathWallet, Sollet.io, among others, to interact with this NFT platform. At Solanart, only the trading of NFTs with the SOL cryptocurrency is allowed.

 

SolSEA

 

SolSEA is an NFT marketplace platform pioneered by Solana. This marketplace was the first to allow creators to choose and incorporate licenses when they mint NFTs. That is, the first to directly integrate copyright in works and creations in NFT format. Thus giving users full control over their creations. In addition, SolSEA is compatible with FTX Pay and Moonpay, thus supporting the trading of non-fungible tokens using the Tether (USDT) and USD Coin (USDC) stablecoins, in addition to SOL.

SolSEA, Solana NFT marketplace

 

The most traded NFT collections within this NFT platform are: Dapper Apes, I´M AIKO, Solana Sluts, Cozy Corners and SolPunks. Moving a total volume of more than 1.2 million dollars in the last 30 days. This NFT marketplace allows users to mint individual and unique NFTs as well as entire collections, to which traits and attributes of different rarities can be added. SolSEA also allows users to track future NFT projects.

Upcoming releases within this NFT marketplace, such as TheMonkeyDesignClub and MetaEggs City , are attracting a lot of interest from users. On Twitter, both projects have more than 27,000 followers.

Digital Eyes Market

 

Digital Eyes Market is a platform for the creation and trading of verified NFTs. Users of this market can create their own NFTs, which will be previously verified by the platform team. Digital Eyes Market is in beta and has transacted more than 100 million dollars since its launch.

Digital Eyes Market

 

NFT projects such as Solana Monkey Business, Solarians, Frakt, Abstratica, Galactic, Gecko Space Garage, Thug Birdz, Degenerate Ape Academy, and Aurory are listed within this NFT marketplace. One of the most prominent NFT collections currently is Bonfida , whose NFTs are auctioned for up to 4,777 SOL ($452,100 USD currently).

 

Metaplex

 

Launched in the middle of last year, Metaplex is an NFT marketplace created to be Solana’s NFT standard. Metaplex allows users, artists, creators, and brands to create their own custom NFTs. As indicated on its web portal, it is an open source, fast and affordable protocol, where users and creators of Web 3 can build their own ecosystems of non-fungible tokens for markets, games, art and collectibles.

 

Metaplex, market and NFT standard in Solana

 

Currently, this protocol is home to some 7.5 million NFTs. More than 3 million artists, creators and brands use Metaplex to create works of value and build their own online communities. Metaplex was launched by the Metaplex Foundation and is supported by Solana Labs and crypto exchange FTX.

Users of this platform can trade their NFTs without market fees and access development tools to build their NFT projects. Metaplex allows NFTs to be minted to be used as assets within gaming platforms. Or create new marketplaces or NFT stores, launch crypto collections of generative art, and much more. Some of the most outstanding projects and collections within this NFT protocol are: VooVoo NFT Marketplace, Space Falcon, SolChicks, Alien vs. People, Genopets, Oddkey, Nyan Heroes, I´M AIKO and Solana Monkey Business.

 

Solible

Solible, developed by the Bonfida project, was the first NFT market launched on Solana and Serum in April 2020. It is an NFT platform where users can mint their non-fungible tokens linked to real-world objects under the Solana SLP standard. From Solible, it is possible to mint NFTs of clothing, works of art, collections or sporting goods and more. NFTs can also be created with no relation to the real world.

 

Solible, Solana NFT market

 

Among the NFTs displayed within this market are: sports t-shirts and socks, a painting of a Shiba Inu dog, a transport vehicle with the Bitcoin logo, gifs, logos and much more. Within this platform, users can trade their NFTs using Serum’s native token, SRM; in addition to the stablecoin USD Coin (USDC) and the Frontier token (FRONT).Images associated with Solible-minted NFTs are stored in the IPFS interplanetary file system, providing a secure protocol and network for data storage and exchange.

FTX NFT

 

FTX NFT, launched last October 2021, is a market created by the cryptocurrency exchange FTX on the Solana blockchain to provide users with a space to trade NFTs without the cost of gas required in Ethereum. However, it is a centralized platform, where users must register to be able to enter. At the moment, this NFT platform does not support deposits from FTX International, as indicated on its web portal. Also, it is not available to citizens and residents of New York.

 

FTX NFT, NFT market in Solana

 

Within the FTX NFT platform, users can mint, buy, sell, and trade NFTs using US dollars, SOL, or ETH. Users of this market can make use of different payment methods, such as card and bank transfers. In addition, FTX NFT also supports trading of NFTs minted in Solana’s Metaplex standard.

At the time of its launch, Brett Harrison, President of FTX.US, stated that FTX NFT, being centralized, provides an effective solution to one of the existing concerns in non-fungible token markets: authenticity verification.

 

Sollectify

 

Sollectify will be a new NFT marketplace built on top of the Serum protocol in Solana. It was first announced in May 2021 as an NFT marketplace platform focused on gaming artwork and crypto collectibles. Through GitHub, the Sollectify development team has shown part of the development of the new platform. Indicating that the market will allow, in the future, the negotiation of multi-chain NFTs, based on Solana, Ethereum and the BSC.

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