5 Best Solana NFT Marketplaces (2022)
What’s less common though, is a new blockchain that has the potential to compete with the likes of Ethereum, Ripple, and Stellar (to name a few). But, every now and then, there’s going to be a new kid on the block. It’s time to meet Solana and introduce the best Solana NFT marketplaces.
The 5 current best Solana NFT marketplaces are:
- Magic Eden
What is Solana?
The Solana blockchain was officially launched in 2020 and could be considered one of the fastest-growing crypto networks out there. Why? Because it is currently ranked as the fastest blockchain in the world—by a long shot.
Not only is a new block mined about every 400 milliseconds, but we’re also talking about a theoretical processing ability of over 50,000 transactions per second (TPS).
To put this in perspective, it would take 25x longer (10 seconds) to mine a block on the Ethereum network and 1500x longer (10 minutes) on Bitcoin. And just for the die-hard Ethereum fans out there, the 2.0 version will have a TPS of about 100,000—impressive, but still (currently) no match for Solana.
This speed is one of the main reasons for Solana’s growing popularity, as it offers untouchable potential for projects involving NFTs, Web3, and the future of crypto.
Solana vs. Ethereum
While speed is one of the main differentiating factors between Ethereum and Solana, it isn’t the only difference. In fact, they both provide relatively similar functionality, but Solana has made low fees pivotal to their platform.
For some reading this article, you may have fallen victim to the rising gas fees that have become a growing pain on the Ethereum network.
Aside from speed and fees, the other significant difference between these two titans is their validation methods. Solana uses Proof-of-History (PoH), whereas Ethereum uses a Proof-of-Work (PoW) mechanism. This PoH structure allows for lightening fast transaction validations and thus provides the impressive backbone of the Solana offering.
By strategically positioning itself as the antidote to multiple common Ethereum issues—high fees, slower speeds, poor scalability—many are now classifying Solana among the elite league of “Ethereum Killers.”
What are the 5 best Solana NFT marketplaces?
Of course, we couldn’t talk about Solana without mentioning non-fungible tokens (NFTs)—they practically go hand-in-hand! In fact, Solana has quickly become a global favourite for some of the best NFT marketplaces.
So, what are the best Solana NFT marketplaces?
As the name suggests, Solsea is a dedicated NFT marketplace on the Solana blockchain. As “the first open NFT marketplace on Solana,” Solsea is unique in the sense that it allows creators to schedule launches ahead of time and has an airdrop function for upcoming projects.
But its crowning feature is that Solsea is the first marketplace that can embed licenses when minting NFTs.
Why does this matter? Because you can communicate the copyright information of that NFT from the get-go, and it is embedded in that piece for good—no confusion, no questions asked.
2. Magic Eden
With over 8000 collections, it should be no surprise that Magic Eden has cracked our list of best Solana NFT marketplaces. This community-focused space offers an exclusive minting platform with massive reach on Web3 and is massively supportive of gaming projects.
The heavy-hitting minds behind Magic Eden have backgrounds in advanced tech projects and are supported by equally as impressive firms in the crypto space. Not to name drop or anything, but the likes of Coinbase, Sequoia, and Paradigm are just a few of their backers, and it seems as though the limit does not exist for Magic Eden.
Have you ever heard of a fee-less marketplace? No, we’re not making this up—with Solanart You can buy, trade and save yourself the transaction fee headache while doing it.
They’ve also dedicated significant effort to improving the user experience, all with the hopes of offering “the best NFT-buying experience on Solana.”
Not surprisingly, OpenSea has also opened its renowned doors to Solana-based NFTs.
The main benefit here being with OpenSea’s substantial success in the space, you will now be able to buy, sell, and trade all of your collections under the broad umbrella that OpenSea offers—or, as we like to say, where there are lots of fish in the sea.
So, if you’re ready to hit the open water in search of Solana, this is your opportunity.
Metaplex is another unique player in the Solana NFT marketplace community. Instead of the typical collection display format that most platforms use, with Metaplex, you can create your own custom storefront. This way, you can show off your NFTs to their absolute best. Of course, low minting cost and no platform fees are a big bonus too.
What is the best Solana NFT marketplace?
We know what you’re thinking—is one Solana NFT Marketplace better than another on our list? The answer is: maybe.
It honestly depends on who you ask and what you, as a creator, value in a platform. Is it potential reach? Is it unique creative freedom? Is it fee management? Or perhaps the platform’s community efforts?
Many creators will sell across multiple platforms because they all have unique aspects—just like the NFTs that can be found on them. As for finding the ‘best’ one, that’s up to you and what you consider the best Solana NFT marketplace!
Although there are dozens of Solana NFT marketplaces, the best Solana NFT marketplaces include:
- Magic Eden
How much does it cost to join a Solana NFT marketplace?
Most marketplaces are free to join; however, there are fees involved with minting, buying, and selling on the marketplaces. These are different depending on each platform.
What kind of wallet do you need for Solana NFT marketplaces?
Again, this depends on the platform.
For Solsea, accepted wallets include Sollet, Slope, Ledger, and others. Ledger is also compatible with Magic Eden, whereas Sollet is the preferred wallet for Solanart.
But by far, the most compatible wallet for Solana-based tokens and NFTs is Phantom, which is widely accepted across Solana Marketplaces—including all platforms listed in our top 5 Solana NFT Marketplaces.