For some time now, the NFT landscape has not only been limited to Ethereum, which still remains the industry’s reference blockchain, but also on other chains such as Solana.
Just today, news arrived that the Phantom wallet will help the music app Audius to display NFTs. Like many projects especially in the artistic field, Audius has decided to enter the world of non-fungible tokens, in this case using Solana’s blockchain, and thanks to Phantom an integration has been made to show NFTs on one’s profile in the app.
Until now, Audius only showed NFTs based on Ethereum, but now it has expanded its support to those on Solana as well.
NFT projects on Solana
Solanart.io is one of the marketplaces to sell and buy NFTs on Solana. Most of them are collectibles that follow the logic of Crypto Punks, i.e. series of figurines with lower or higher rarity depending on the objects represented on them. And indeed, on Solana we also find Sol Punks, a parody of the more famous Crypto Punks, and Dengen Ape, reminiscent of the Bored Ape, which is now a big hit at Sotheby’s auction house.
— Sotheby's (@Sothebys) August 28, 2021
Solana’s price breaks new records thanks to NFTs
Just a few days ago, the price of Solana set an all-time record of over $100 thanks to the announcement of its entry into the world of crypto art.
Currently, due to the success of the move, SOL is ranked seventh in market capitalization and, at the time of writing this article, has a value of $143.
NFTs on Ethereum and other blockchains
Looking at the ranking of all the top-selling NFT projects on the CryptoSlam.io website, however, it is clear that Ethereum is still the most widely used blockchain. In fact, in the top 100 places, only 9 do not use Ethereum. Among these other blockchains we find Flow, WAX and Polygon but not Solana.
From this data, it is therefore clear that Solana still has a long way to go to think about competing with Ethereum.