OpenSea Now Supports Solana NFTs in Beta

 

Non-fungible tokens (NFTs) based on the Solana (SOL) blockchain, a public blockchain and a rival to Ethereum (ETH), are now supported by the major NFT marketplace OpenSea.

According to OpenSea’s website, the support for Solana NFTs is currently in beta and comes with limited collection coverage. “Full launch will include a scalable way to expand coverage via the Metaplex collection standard,” OpenSea said.

As of now, collectors can explore, buy, and sell eco-friendly Solana NFTs from 165 supported collections. Also, Solana’s advantage compared to Ethereum are low gas fees.

The announcement comes just one week after OpenSea teased Solana support in a video. However, rumors of Solana support had been circulating since the start of the year and such a move was largely expected given that Solana is home to one of the fastest-growing NFT ecosystems.

Meanwhile, OpenSea’s Solana integration is powered by Metaplex, an organization enabling artists and creators to launch self-hosted NFT storefronts on Solana.

In a recent report, Metaplex revealed the explosive growth of the NFT sector on Solana, detailing that over 3 million Solana wallets currently hold NFTs, of which 700,000 are monthly active. 

Moreover, 9.7 million NFTs have been minted on the Solana blockchain so far. And since June 2021, USD 2.2bn in total sales have been recorded, per the report.

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Learn more:
– Solana NFTs to Get a Boost with Upcoming OpenSea Support
– Solana Outpaces Ethereum

– Solana’s Network Congestion Prompts Liquidations, Drives Away Users
– Removing LooksRare’s USD 8.3B in Wash-Trades, OpenSea is Still the Dominant NFT Marketplace

– OpenSea’s Trading Volume Remains in a Downtrend Amid Recent Attacks
– Decentralization Debate Heats Up Again as MetaMask, OpenSea Block Users