High non-fungible token (NFT) market OpenSea’s long-anticipated integration with Solana has lastly gone stay.
Nonetheless, the information didn’t stimulate or help its enterprise. In keeping with latest studies, gross sales have dropped by over 21% prior to now 24 hours.
OpenSea knowledge reveals that collections underneath Solana had been listed and denominated in SOL, reminiscent of Solana Monkey Enterprise and Solana Monke Rejects. Presently, the most cost effective Solana Monke Rejects is being bought for six SOL or $683.52.
In keeping with The Block, OpenSea’s integration of Solana permits all kinds of NFTs on the platform. Previous to the combination, the NFT market prioritised Ethereum-based NFTs together with Polygon and Klatyn blockchain integrations.
The combination signifies an essential growth for OpenSea and the agency raised $300 million at a $13 billion valuation in January.
Though Ethereum holds the biggest variety of NFTs, proponents of Solana imagine that it’s a cheaper, quicker and extra energy-efficient different product.
CryptoSlam’s report confirmed that Ethereum-based NFT gross sales had been additionally down by over 27% prior to now 24 hours.
CryptoSlam’s knowledge additionally acknowledged that Solana noticed $173 million in NFT commerce quantity throughout March.
Whereas, OpenSea posted round $3.4 billion price of commerce volumes in March, based on The Block’s Knowledge Dashboard.
The official details about the combination first got here by way of an announcement on OpenSea’s Twitter web page final month.
Blockchain.Information reported in January that for the primary time, month-to-month NFT buying and selling quantity breached the $4 billion stage on OpenSea, based on knowledge from market perception supplier Dune Analytics.
It represented a 20% surge from the earlier excessive of $3.4 billion hit in August 2021. Moreover, the report added that the full gross sales on this market reached $25 billion in 2021.
Picture supply: Shutterstock