The world of NFTs is an ever-expanding one with investors and developers alike joining the space. Thus it only makes sense for the biggest NFT marketplace in the world to host some of the biggest existing NFT collections.
Solana Comes to Opensea
In the latest leaks from reputed hacker and leaker, Jane Manchun Wong, screen grabs from the Opensea website indicate that the marketplace is working to integrate Solana based-NFTs along with support for the Phantom wallet.
At the moment Opensea has NFT collections like the CryptoPunks, Bored Ape, etc from chains like Ethereum and Polygon. With these collections, the market has managed to rack up over $17.5 billion in the span of just 6 months.
Despite the NFT craze being at its highest in August, this month witnessed higher money flow for NFT as total traded volume peaked at $3.8 billion. This represented the 1.97 million NFTs sold throughout the month with the average price for each NFT being $1,928.
Solana on the other hand alone handles millions in volume every month. Just recently the cumulative NFT sales volume on the chain crossed the $1 billion milestone.
The addition of Solana NFTs would definitely drive more investors to Opensea. The marketplace already managed to garner the attention of over 1 million traders and the figure would only go higher after Solanas integration.
The Rise of NFTs
In the last few weeks, crypto has been through a lot, both good and bad. While the regulations and bans have been rejected, the news of adoption has kept investors optimistic too.
Recently, Twitter acknowledged the boom of NFTs by offering a hexagon-shaped NFT profile picture verification service. Events as such are necessary to counter present market conditions.
Speaking of which Solana still needs a major catalyst to kickstart its recovery. After losing almost 35% during the recent crash, the altcoin entered consolidation which it needs to break and rise further.
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