Non-fungible tokens (NFTs) have exploded in popularity recently, with sales reaching billions of dollars in 2021. Much of this activity has occurred on Ethereum, which hosts the largest NFT marketplaces like OpenSea. However, Ethereum faces challenges with slow transaction speeds and high gas fees.
This is where Solana comes in. The speedy and scalable blockchain has become a go-to for NFT projects, with several marketplaces popping up to trade Solana NFTs. In this post, we‘ll explore seven top options and why they might be better than Ethereum‘s offerings.
Why Choose Solana for NFTs?
Before diving into the marketplaces, let‘s look at why Solana is gaining steam for NFTs:
Speed – Solana can process up to 65,000 transactions per second, far outpacing Ethereum‘s 15 TPS. With faster block times, buying, selling and minting happens instantly.
Low fees – Gas fees on Ethereum make transactions expensive, with minting costing $50-$150 typically. On Solana, fees to mint and trade NFTs are under $0.10 usually.
Scalability – Solana was built to scale globally without sacrificing decentralization. This makes it ideal for the influx of activity that NFTs generate.
Developer experience – Building NFT projects is easier on Solana thanks to developer tools focused on a smooth experience.
With the context set, let‘s explore some top Solana NFT marketplaces.
1. SolSea
SolSea bills itself as the premier marketplace for Solana NFTs. It has an easy-to-use interface for buying, selling and minting. Users can also swap tokens and access live mints of popular collections.
Some key details:
- Creators get full control of royalties
- 2% marketplace fees on sales
- No additional charges beyond that
- Over $770 million in all-time sales
SolSea supports Phantom, Slope, Solflare, Torus and other leading Solana wallets. It‘s the most popular marketplace overall at the moment.
2. Solanart
Solanart is another large marketplace with collections like Degenerate Ape Academy traded actively. It offers a statistics page so users can analyze market data on collections and sales.
Here‘s what you need to know about Solanart:
- 3% marketplace fee on sales
- Option for creators to charge royalties
- Has its own $SOLAR token
- Almost $500 million in trading volume
Top projects on Solanart span Apes, SolPunks and more bluechip collections. Expect lots of trending and promoted NFTs as you explore.
3. DigitalEyes
DigitalEyes brands itself as an open marketplace welcoming new creators. It places an emphasis on making minting easy without bottlenecks.
Additional aspects:
- Verified open marketplace for launches
- Mint calendar to see upcoming releases
- 2.5% marketplace fees
- Discounts offered on fees through $DIGITAL token
DigitalEyes facilitates over 3 million in weekly trading volume. It‘s seen as more community-oriented vs other marketplaces here.
4. Metaplex
Metaplex comes at things from the NFT creation side. It focuses on tools, protocols and standards to automate typically manual tasks around launching and managing NFTs.
Why check out Metaplex?
- Facilitated minting of 15+ million NFTs
- Powers 100k+ project with creation tools
- Lets creators build basic storefronts
- Focuses heavily on security against exploits
This makes Metaplex almost more of an NFT engine than marketplace. But it‘s still used widely so worth exploring.
5. Magic Eden
Magic Eden exploded onto the scene recently, doing over $500 million in monthly volume. It‘s emerged as a community hub for trading Solana NFTs.
Here is what you should know:
- 2% marketplace fee, no royalties fee
- Magic Tickets rewards program
- Over 100k daily wallet connections
- Top projects: Okay Bears, Aurory, SolPunks
- App available on iOS and Android
Magic Eden tries positioning itself as a fairer marketplace supporting creators. This message seems to be resonating in the community.
6. SUPADROP
SUPADROP focuses on empowering creators and collectors. It has an alpha membership program granting early access and rewards.
Additional SUPADROP details:
- 2.5% marketplace fee
- 97.5% of sales go to creators
- Support for video, AR/3D, audio NFTs
- More niche/artistic collections featured
SUPADROP tries differentiation with experimental and expanded NFT formats. This makes it worth checking out for new types of digital art.
7. Solanart Mega Gallery
The Solanart Mega Gallery is a newer spin-off from Solanart showcasing top-tier Solana NFTs. It offers things like VR previews and special creator spotlights.
Why visit the Mega Gallery?
- Special features like 3D previews
- Focus on bluechip, high-value collections
- Spin-off from top marketplace Solanart
- Lower listing fees for creators
Given Solanart‘s strong market presence already, its Mega Gallery carries cachet with expensive alpha drops.
Comparing Trading Fees
Let‘s do a quick fee comparison between leading Solana marketplaces:
| Marketplace | Creator Fee | Buyer Fee |
|---|---|---|
| SolSea | Customizable | 2% |
| DigitalEyes | Customizable | 2.5% |
| Magic Eden | Customizable | 2% |
| Solanart | Customizable | 3% |
Beyond that, Metaplex and others have free tiers or only charge for creation. But in general fees are:
★ Solana: <$0.10 USD
★ Ethereum: $10-$150+ USD
This shows the vast savings Solana delivers over ETH. You keep more money from sales by using Solana marketplaces.
Finding the Right Marketplace
With so many options, it can get overwhelming to pick a marketplace for your needs. Here is what to consider:
Liquidty – If you want to sell NFTs, assess which markets have enough demand and daily users. Magic Eden for instance pulls major volume.
Creation Tools – Building and minting your NFTs smoothly is crucial, so check if a marketplace helps here like Metaplex.
Fees – Obviously you want to maximize profit, so factor in all royalty, gas and trading fees.
Features – Some marketplaces focus on different areas like VR/3D NFT support or data tools. Align with your priorities.
Doing research around these facets helps narrow the options. Each marketplace serves a slightly different purpose in the ecosystem.
Future of Solana NFTs
In 2021, Solana NFT sales shot up over 12,000% to $2.5 billion. They shows little sign of slowing in 2022 with bluechip projects launching routinely.
Tools like Metaplex are also making it simpler for new creators to participate while marketplaces promote launches.
Expect Solana‘s low fees, speed and scalability to attract projects from Ethereum too. Even major influencers like Gary Vee have taken notice, predicting Solana flippening ETH eventually.
While risks always exist around hype cycles, developer momentum paints an optimistic picture for Solana long-term. Its blockchain seems poised for further NFT domination given technical merits and rapid user growth.
TL;DR
Here are some key takeaways about top Solana NFT marketplaces:
★ Solana marketplaces offer faster and cheaper transactions than Ethereum.
★ Leading markets include SolSea, Magic Eden, DigitalEyes and Solanart.
★ Billions have already been traded across Solana markets like Magic Eden.
★ Future looks bright for Solana NFT projects as ecosystem expands.
So if you want to buy, sell or create NFTs, be sure to explore Solana‘s offerings covered here. The space is growing exponentially while still being early.
