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 moment you’ve been waiting for… @Solana is officially on OpenSea – starting today, with our initial beta!https://t.co/VjhqeGHZxc

— OpenSea (@opensea) April 6, 2022

• 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.