Anyone involved in the NFT space knows that the current big gun in the market is Ethereum. Following Ethereum closely would be Solana NFTs which have proved themselves and have everything that they need to become a strong competitor for Ethereum in the near future.
There are so many things that will make it possible for the Solana NFT marketplace to become a strong competitor of Ethereum. This includes how easy it is to buy NFTs from their marketplace, and also its transaction fees are very low compared to the overwhelming transaction fees of Ethereum. This is everything you need to know about Solana NFTs and how to navigate them.
Solana Blockchain & Solana NFT Projects
Solana blockchain is one of the best blockchains and it allows its users to create and mint their non-fungible tokens (NFTs). The Solana blockchain operates on a proof of stake protocol and also proof of history. This algorithm allows the Solana blockchain to maintain authentic information of all of its users.
Solana still has a long way to go to achieve the same market volume as Ethereum but it is worth noting that this NFT blockchain has achieved so much in its few months of existence.
Since the Solana NFT marketplace first went live, the number of unique buyers has grown immensely to over 500%, from 14,579 unique buyers to about 80,000 as of February 2022. The number of transactions has also increased in the Solana NFT marketplace, from 63,873 to 316,800.
All these shows that a lot of NFT investors are now exploring other NFT platforms other than Ethereum. The number of multi-million transactions has also increased in the marketplace, with the Solana Monkey Business NFT sold for about $2 million in 2021.
Here are some of the biggest NFT projects in the Solana NFT marketplace today:
Shadowy Supercoder :
With a market cap of about $190 million, the shadowy super coder is currently the biggest Solana NFT project. This NFT has about 10,000 in the collection and it was created for those who love coding. It comes with different attributes such as monitoring screen combinations, tabletop, outfit, etc.
Degenerate Ape Academy:
This is one of the biggest NFT projects in Solana NFT exchanges and it’s a 10,000 collection of apes. The NFT collection comes with many utilities such as it allows you to join the academy, those who have more than one ape can breed them for new apes, you can also join Degen DAO to earn SOL passively.
Currently, the floor price of this Solana NFT project is about 169 SOL and it’s a limited collection of 1,111 dragon NFTs. Holders have access to breed two dragons, qualify for airdrop and tokens, and earn seven BOKU tokens (the native token of the collection) daily.
Solana Monkey Business (SMB):
This Solana NFT project is endorsed by celebrities such as Steve Harvey and a collection of 5,000 monkeys. This is widely known in many Solana NFT exchanges and costs an average of 182.4 SOL to buy.
Others include Catalina Whale Mixer, Aurory Sol NFT, Galactic Gecko Space Garage, etc.
How To Buy Solana NFTs And Where To Buy Them
Unlike the popular wallet that people use to buy NFTs, Metamask, when buying NFTs on the Solana blockchain, you cannot make use of Metamask because it is not compatible. Here’s a procedure of how to buy Solana NFTs and where to buy them:
Get a Solana wallet:
The first thing while buying a Solana NFT is to find a wallet that is compatible with it. You cannot make use of the popular Metamask because it is only compatible with the Ethereum blockchain. Wallets such as Sollet, Solfare and Phantom are among the popular wallets you can make use of to do this. Among these three, Phantom is the most popular and is sometimes considered the Metamask of the Solana NFT marketplace.
Have some SOL in your wallet:
SOL is the native cryptocurrency of the Solana blockchain and it is what is made use of in the transaction. Keep some SOL for the NFT price, and also some for transaction fees. If you don’t have any, you can buy from exchanges like Binance or convert your stable coin to SOL.
Choose a Solana NFT marketplace:
Once you have a SOL ready in your wallet, the next thing is to find the Solana NFT exchange that suits you. Here are some of them that you can choose from:
Currently, this is the largest Solana NFT marketplace and it has carried out over 500,000 transactions. It is very easy to navigate and buy and their transaction fees are low.
This marketplace has many other uses except for buying and seeking NFTs. This Solana NFT exchange also offers FTX-Pay support, regular updates, and also rarity updates.
Here you can buy NFTs from solo artists or directly from collections. The gas fee here is very minimal and it is easy to navigate and buy NFTs.
Connect your wallet with the marketplace and buy your desired non-fungible tokens (NFTs).
Solana has established itself as a rising competitor of Ethereum blockchain in the NFT market and also as the second-largest NFT blockchain. It still has a long way to go but it has done a lot within the short period it has been existing. Its market has some fascinating NFT projects in it such as the Degenerate Ape Academy, Solana Monkey Business and many others in the marketplace. Solana NFTs are cheaper and its marketplace is easier to navigate, unlike Ethereum.