An NFT marketplace gained high traffic through using non-fungible tokens and it has low transaction speed and high gas fee to eliminate these issues, many developers have planned to implement unique blockchain into the marketplace.
This article will now provide the answer to the aforementioned problem as well as instructions on how to build a new nft marketplace on the Solana blockchain.
This NFT Marketplace Platform runs on the Solana blockchain network with super-fast transactions with fewer gas fees due to its unique consensus algorithm. There have been the launches of new marketplaces using Solana networks, such as Digital Eyes and SolSea, which are endeavoring to keep up with the rapidly rising number of NFT mints.
At this time, the Ethereum based NFT marketplace is the favorite choice for digital creators to expose their talents and digital artworks collectibles. Due to the heavy usage of the ETH blockchain network, the speed has reduced down and the transaction cost has risen to overcome this issue. A new Solana-based marketplace has been booming.
1. The Solana NFT marketplace transactions that take less than a second are also known as the first web-sized blockchains and fastest networks.
2. The transaction cost is also low in this blockchain network due to the low congestion.
3. Solana-based NFT Marketplace is a trustful network since it functions in a decentralized sphere and eliminates the involvement of central authorities.
4. It is really composable; many development protocols and software can be integrated with the platform.
5. Minting NFT is easier when stored in the name of on-chain collections the NFT is in the form of a collectible, asset, etc.
If you're unfamiliar with the Solana blockchain, the information in the next section will be helpful.
Solana is a decentralized blockchain network to create user-friendly apps or websites for the world. It is ultra-fast, low-cost, and censorship-resistant. But, the network will endure open applications to run freely and transactions will never be stopped.
It has the capacity to handle 1000 transactions with its unique Proof of History (POs) mechanism. Solana allows developers to launch Dapps, smart contracts, or any other projects on their network. It has its own SOL native token.
The Solana ecosystem has seen bursting growth nowadays, they launched a wide range of NFT projects.
1. Solana NFTs with Degenerate Apes
Degenerate Apes was Solana's first big NFTs platform that gives the bulk of costumed apes with various traits from glasses to sandwiches with various degrees of rarity.
The collection of 10,000 apes had sold out in less than 10 minutes at the time of writing, with a trading volume of over 600,000 SOL (nearly $66 million). All of those sales required SOL tokens, which accounted for a significant amount of the price increase.
2. Covering a wide range of projects
A lot of projects were built on Solana's network, including numerous decentralized finance (Defi) applications. Decentralized finance is an umbrella term that takes out the middleman (often banks) of financial transactions. It is the best alternatives to Ethereum (ETH)
3. Solana is remarkable more than Ethereum
Because Ethereum was the first programmable blockchain, a slew of other currencies and tokens have sprung out as a result. Solana is one of a slew of programmable blockchains competing for first place. If Solana continues to perform well, it has a good chance of earning a spot in the top tier.
4. Fast transactions
Solana is one of the fastest blockchain networks right now. It requires a process of at least 50,000(Tps) speed now.
Osiz is a leading NFT Marketplace development company that provides NFT Marketplace platforms across various blockchain networks. We are best in providing NFT products on the Solana blockchain that can be customized based on your requirements. We provide a 100% bug-free Solana NFT Marketplace platform with premium features.
Our top aim is to keep our customers ahead of the curve in the crypto world. In the Solana blockchain, we may also give the following services.
The number of smartphone users has skyrocketed in recent years. As a result, every businessman launched a mobile application for their business they can access from any geolocation at any time. Our Solana NFT Marketplace app is coming up with outstanding features that will meet all your needs and requirements.
At the White Label NFT Marketplace, anyone can customize meet their business requirements smoothly. Our White Label NFT Marketplace supports Solana will be the right choice for you to promote your business motives.
Planning to build your passionate NFT Marketplace in the Solana blockchain network then you are in the right place, Get a Blockchain Experts Consultation now!