OpenSea Officially Adds Support for Solana-based NFTs

The largest digital marketplace for crypto collectibles – OpenSea – officially started listing NFTs minted on the Solana blockchain.

“We are currently supporting 165 collections, and adding more every day,” the team announced.

  • OpenSea disclosed that users can now buy and sell Solana NFTs on the marketplace. The company praised the blockchain protocol’s low gas fees, efficient energy usage, and fast transactions.
  • The marketplace further explained that Solana support has been added in beta with “limited collection coverage.” The network became the third layer 1 and fourth protocol whose collectibles can trade on OpenSea (the previous three being Ethereum, Polygon, and Klaytn).
  • Solana’s arrival in the leading NFT marketplace was long anticipated. Last week, OpenSea released a teaser video, dubbed “The best-kept secret in web3,” where it displayed its future support for non-fungible tokens minted on Solana’s ecosystem.
  • Numerous enthusiastic users described the integration as “huge.” Others argued that it’s a “smart” move because OpenSea stands to capitalize on the Solana hype.
  • The latter is one of the main networks artists prefer when it comes down to minting NFTs. It even provides some significant advantages over the leader Ethereum.
  • For one, Solana supports transactions with high throughput – over 60,000 transactions per second (TPS). In contrast, Ethereum can currently process up to 15 TPS.
  • The latter is also criticized for its high gas fees. Minting NFTs on the Solana blockchain is cheaper and, in general, a lot quicker, so long as the network doesn’t suffer from an outage.

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