NFT: OpenSea integrates NFTs from the Solana blockchain (SOL)

Since January 2022, persistent rumors suggested a probable integration of NFTs created on the Solana environment on the OpenSea platform. This integration would make Solana the 4th blockchain supported by the leading NFT platform. Today it brings together Ethereum (ETH), polygon (MATIC) and Klaytn (KLAY). This important decision, which was also expected by a large part of the users and holders of non-fungible tokens, will bring its share of advantages to the two ecosystems, Solana and Opensea.

OpenSea should integrate Solana’s NFTs

At the start of the year, blogger Jane Manchun Wong warned of the possible arrival of NFTs from the Solana blockchain on the OpenSea platform.

OpenSea is working on integrating the Solana environment as well as its Phantom wallet

In fact, we learn that the OpenSea platform is working on integrating the Solana environment, as well as its Phantom wallet. Widely followed, the blogger’s tweets are recognized by the community. Indeed, it had previously unveiled technical features before their official disclosure about various platforms such as Twitter, Facebook or Instagram.

On March 29, 2022, OpenSea lifted the veil on the rumors and confirmed the integration of NFTs from the Solana blockchain on its platform. The teaser highlights the best NFT collections available on the Solana blockchain ecosystem: Degenerate Ape Academy, Boryoku Dragonz, Solana Monkey Business and Aurora. There are also several requests and complaints from OpenSea users about Solana’s non-fungible tokens.

Web3’s best kept secret

To date, the OpenSea platform has not provided information on an official launch date, but according to some sources, the integration should be effective during the month of April 2022.

The challenges of integrating Solana NFTs on OpenSea

OpenSea is the leading NFT platform, with a total trading volume of approximately $24 billion. In second position, we find the Solana blockchain with a capitalization of 1.5 billion dollars on the NFT market. NFT exchange platforms wishing to work on the Solana blockchain benefit from undeniable advantages for users. It is now a platform recognized by the cryptocurrency community. In part thanks to its speed of execution as well as its very low user fees.

Indeed, the Solana blockchain can cover up to 600,000 transactions per second thanks to its mechanism of Proof-of-History (PoH). At the time, the launch of this new consensus method allowed the blockchain to obtain an almost unrivaled finality in the cryptocurrency market. The blockchain thus offers much lower gas costs than those of Ethereum, for example.

Over the past few days, 90% of NFT sales made on Solana have been made through the Magic Eden Marketplace. It is effectively an NFT marketplace built on the Solana blockchain. Therefore, the integration of Solana NFTs on the OpenSea platform should have a considerable impact on this marketplace.

Conclusion

The field of NFTs continues to grow. New integration solutions are emerging, making it easier for users to access NFTs. On the one hand, OpenSea, the most important NFT exchange platform in the world. On the other side, Solana, one of the fastest blockchains in the whole market. This should further allow the NFT market to continue to evolve and grow.

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NFT: OpenSea integrates NFTs from the Solana blockchain (SOL)


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