NFT News: OpenSea set to integrate Solana in April, Expands NFT Ecosystem

OpenSea, a nonfungible token (NFT) marketplace, has announced that the Solana (SOL) blockchain will be integrated into its platform in the near future. 

iexclusivenews reports that it’s a long-awaited move that industry experts and numerical data suggest could have reciprocal benefits across both ecosystems. As well as positive sentiments for the wider NFT space.

Solana will join the list of three networks, Ethereum, layer-2 Polygon, and Klayt.,

On a yet-to-be-determined day in April, and will be visible via the drop-down “all chains” option on the rankings page.

OpenSea joyfully referred to the revelation as the “best-kept secret in Web3.”

Referring to the enormous number of tweets and media publications about the prospect for a Solana launch.

Adam Montgomery, the company’s head of blockchain, also offered his thoughts on the launch.

Their sixteen-second teaser video was met with enthusiastic applause, as seen by the tweet’s 615,500 views, 8,964 retweets, and 21,700 likes in the eighteen hours since it was posted.

The launch of LooksRare, an NFT marketplace in January 2022, was the first true leadership challenge to OpenSea’s multi-year monopoly in the NFT space.

It witnessed the implementation of an airdropping scheme, which allowed experienced investors to claim governance LOOKS tokens as a reward for using the site.

LooksRare has registered a total of 55,874 users since its debut on Jan. 10, according to quantitative data from Dune Analytics.

Facilitating almost $21.3 billion in trading activity. In comparison, since the launch of its competitor. OpenSea has added 884,052 new users, but these investors have only transacted a little over $12 billion in volume.

[the_ad id=”41664″]

As a result, LooksRare is presently leading the battle for market share based on trading volume, with 52.4% vs 47.6% for OpenSea.

DappRadar marketplaces data for Solana’s ecosystem shows that Magic Eden is now leading the space with a $41.05 million trading volume. Over the previous 30-days, followed by Solanart and Solsea with $4.39 million and 656,830, respectively.

Following Magic Eden’s collaboration with entertainment firm Overtime. Jack Lu, the company’s co-founder, stated that NFTs will allow;

“The next generation of sports fans [to] experience sports in a totally different way than the previous generation of millennials, who grew up passively watching sports on TV or IRL.”