OpenSea has announced the release of the official beta that integrates the Solana (SOL) blockchain onto the world's biggest NFT marketplace.
OpenSea announced the news via its official Twitter account and stated that on April 7, NFTs created on the Solana blockchain will be able to be traded on the marketplace. Before Solana's integration, the OpenSea marketplace mostly consisted of Ethereum-based NFTs, along with Polygon and Klatyn blockchains. The integration of Solana gives creators and option to trade on a platform that has notoriously cheap gas fees, efficient energy usage, and fast transactions.
The NFT trading platform has announced that it has already added 165 Solana-based collections to the marketplace and is continuing to add more every day. OpenSea adopting the Solana blockchain is a move to capture more of the NFT market and expand its horizon.
Recently, OpenSea raised $300 million following a valuation at $13 billion in January, and with it already being the largest NFT marketplace by trading volume, it will be interesting to see how the Solana adoption impacts Solana-based marketplaces such as Magic Eden, which is the dominant trading platform on the Solana network.
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