OpenSea’s program to support Solana’s blockchain is still in beta, but this is big and important news for the industry.
OpenSea ready for Solana
OpenSea, the world’s most popular and widely used NFT marketplace, has officially announced the launch – for the moment only in beta – of its support for the Solana blockchain and the creation and exchange of Non-Fungible Tokens.
As mentioned, for the moment this is a test phase and in the blog post published by OpenSea on Medium, it is explained that the project for now includes 165 collections, although the team’s intention is to integrate as soon as possible with the entire Solana community on the marketplace.
To use Solana on OpenSea users will obviously need a wallet compatible with SOL, such as Phantom or Glow.
Solana vs Ethereum
Solana is one of the blockchains that are emerging as an alternative to Ethereum as it is much more efficient in terms of energy consumption and therefore eco-friendly as the protocol does not require mining as ETH still does.
Furthermore, Solana has very low gas fees and fast transactions, which are often a problem on Vitalik Buterin‘s blockchain.
Just yesterday, for example, the average gas fees for using Ethereum’s blockchain were literally through the roof, hovering around 500+ gwei for a “low cost” transaction and even 2800 gwei for a faster transaction.
Solana’s numbers in the NFT sector
Only last Friday, the company Metaplex, one of the tools for organizing NFT collections on Solana, published a report showing how much creators are moving to this blockchain.
Currently, there are 9.7 million NFTs on Solana, over 1.6 million wallets hold a Solana NFT and over 3 million wallets have ever held one. In addition, Non-Fungible Tokens worth $2.2 billion have been sold since June 2021.
The report also states that there are over 700,000 active wallets per month on Solana.