The leading digital marketplace for non-fungible tokens – OpenSea – announced it will start listing NFTs minted on the Solana blockchain. The development will see the light of day in April.
OpenSea disclosed the news in a recent post on Twitter. The video, dubbed “The best-kept secret in web3,” shows enthusiastic users who believe Solana’s integration will be “huge.” Others think that the endeavor is a “smart” move, by which the marketplace will catch the blockchain protocol’s “craze.”
The best kept secret in web3🤣 pic.twitter.com/xuZn64cZ4U
— OpenSea (@opensea) March 29, 2022
The video failed to mention the exact date of the integration. However, OpenSea revealed this will happen in April 2022. Once completed, Solana will become the third layer 1 and fourth blockchain network whose NFTs can trade on OpenSea (the previous three being Ethereum, Polygon, and Klaytn).
The first rumors about such a move appeared at the beginning of the year. Back then, the tech blogger and app researcher – Jane Manchun Wong – tweeted that OpenSea is working towards Solana integration and Phantom digital wallet support.
OpenSea is working on Solana integration, as well as @Phantom wallet support pic.twitter.com/ZEefshKSY1
— Jane Manchun Wong (@wongmjane) January 25, 2022
When it comes to minting non-fungible tokens, Solana is among the main networks artists prefer. In recent months, the protocol has become a significant competitor to the leader Ethereum.
Despite falling behind in terms of sales volume, Solana has some advantages over its rival. It uses a consensus mechanism called Proof-of-History, which enables it to execute transactions with high throughput— more than 60,000 transactions per second (TPS). In comparison, Ethereum can currently process up to 15 TPS for now.
Minting NFTs on the Solana network is also cheaper. The gas fees are lower than Ethereum’s, making the blockchain protocol environmentally friendly.
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