World’s largest NFT market OpenSea, Solana (LEFT) announced the completion of the integration of its network to the platform.
During the day, some Twitter users noticed that Solana-based NFT collections are slowly being published on OpenSea.
OpenSea’s Solana Announcement Was Made On March 29
The highly anticipated integration development actually came as no surprise to the NFT community. On March 29, OpenSea announced in its statement that it would start minting SOL NFTs in April.
Technology blogger Jane Manchun Wong, known for sharing previously undisclosed developments with the public, said in her January announcement that the OpenSea team is working on SOL integration, thus signaling that the NFT leader will add another Blockchain chain into supported networks.
With the latest development, OpenSea is now Ethereum, SOL, Polygon and Klatyn It supports four different Blockchain networks.
The OpenSea platform is expected to dethrone Magic Eden, which currently holds the majority of the market share for Solana NFTs. Magic Eden currently brokers 93% of SOL NFT sales. Although the low commission fees of the Magic Eden platform compared to OpenSea are a trump card in terms of competition, it is not known whether it will be able to withstand the number one name in the NFT industry.
In January, SOL was valued at $13.3 billion by Coatue and Paradigm.
However, after SOL-based NFTs surpassed the total transaction volume of $1 billion at the beginning of the year, they managed to surpass the $1.5 billion threshold last month.
*Not investment advice.