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The leading digital marketplace for non-fungible tokens – OpenSea – announced it will start listing NFTs minted on the Solana blockchain. The development will see the light of day in April.
- OpenSea disclosed the news in a recent post on Twitter. The video, dubbed “The best-kept secret in web3,” shows enthusiastic users who believe Solana’s integration will be “huge.” Others think that the endeavor is a “smart” move, by which the marketplace will catch the blockchain protocol’s “craze.”
The best kept secret in web3🤣 pic.twitter.com/xuZn64cZ4U
— OpenSea (@opensea) March 29, 2022
- The video failed to mention the exact date of the integration. However, OpenSea revealed this will happen in April 2022. Once completed, Solana will become the third layer 1 and fourth blockchain network whose NFTs can trade on OpenSea (the previous three being Ethereum, Polygon, and Klaytn).
- The first rumors about such a move appeared at the beginning of the year. Back then, the tech blogger and app researcher – Jane Manchun Wong – tweeted that OpenSea is working towards Solana integration and Phantom digital wallet support.
— Jane Manchun Wong (@wongmjane) January 25, 2022
- When it comes to minting non-fungible tokens, Solana is among the main networks artists prefer. In recent months, the protocol has become a significant competitor to the leader Ethereum.
- Despite falling behind in terms of sales volume, Solana has some advantages over its rival. It uses a consensus mechanism called Proof-of-History, which enables it to execute transactions with high throughput— more than 60,000 transactions per second (TPS). In comparison, Ethereum can currently process up to 15 TPS for now.
- Minting NFTs on the Solana network is also cheaper. The gas fees are lower than Ethereum’s, making the blockchain protocol environmentally friendly.