OpenSea confirms listing Solana NFTs from April, but here’s the caveat

NFT

Leading NFT marketplace, OpenSea, recently shared a teaser on Twitter – confirming a months-old speculation that OpenSea will be listing Solana-based NFTs on their platform from April. Captioned as ‘the best kept secret in web3’, it spoke about the months of anticipation and inquiries made by NFT enthusiasts across the Solana blockchain.

Famous hacker and blogger, Jane Manchum Wong, leak screenshots of January merger details. Her suspicions about the integration were further amplified this week when she uncovered more evidence. After assignment another leaked screenshot, she tweeted,

“OpenSea adds “Solana Beta” label and Solflare Wallet support for Solana integration that they’re wrapping up.”

What does this mean for the Solana community?

The news is welcomed positively by the Solana community. OpenSea is the largest market for NFT sales with nearly $24 billion in total sales volume. According to CryptoSlamSolana is the second largest blockchain by trading volume after Ethereum.

Magic Eden is expected to be the biggest loser in this deal. It hosted a whopping 90% of all Solana NFT trades in the previous week. It is now expected to take the fall from the OpenSea merger but posted a vote of confidence on Twitter.

Can Solana finally “kill” the Ethereum NFT market?

Most NFTs are listed on Ethereum, but Solana is also home to some major collections. Some of the most popular NFT collections on Solana are Degenerate Ape Academy, Solana Monkey Business, Aurory, and Boryoku Dragonz. All of these are expected to be listed on OpenSea as soon as the merger is underway in April.

The frightening part for the Solana community is NFT market capitulation by Ethereum. According to data from CryptoSlam, Ethereum boasts a near $1.8 billion in NFTs sales volume in the previous 30 days. Solana comes at second, with a trade volume of $170 million, less than a tenth than that of Ethereum’s.

However, the Solana blockchain offers higher throughput and scalability in a growing ecosystem. With lower gas costs and cheap NFT minting, Solana has created a solid foundation to accelerate its NFT market. The new merger with OpenSea should prompt a renewal of the Solanians as April approaches.

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