OpoOpenSea, the most important Non-Fungible Token (NFT) market, is getting ready to function NFTs on the Solana (SOL) blockchain quickly. Screenshots shared by Jane Manchun Wong, a prolific hacker who has leaked a number of yet-to-launch options of tech platforms, point out this, including that OpenSea will even combine assist for Solana pockets, Phantom.
OpenSea to assist Solana-based NFTs and Phantom pockets
But to be launched options leaked by Jane Manchun Wong, signifies that OpenSea is engaged on permitting the buying and selling of Solana (SOL) based mostly NFTs. Wong, 23, is a notable hacker who has uncovered many related yet-to-be-released options in addition to options in testing by way of reverse engineering of their codebase. OpenSea has not confirmed the mixing however is conscious of the leaked picture.
— OpenSea (@opensea) January 26, 2022
OpenSea at present helps solely three blockchains together with Ethereum (ETH), Polygon (MATIC), and Klaytyn (KLAY). In an replace 5 months in the past they disclosed that they had been engaged on supporting different blockchains, particularly EVM suitable ones.
The mixing of Solana on the platform could have many optimistic implications for each Solana-based NFT initiatives and OpenSea. Because the Solana blockchain started supporting NFTs final 12 months, the blockchains’ NFT market share has skyrocketed. In line with data from NFT tracker CryptoSlam, NFT gross sales on the Solana blockchain surpassed $1 billion in all-time whole quantity this month for the primary time.
In the meantime, analysts at JPMorgan led by Nikolaos Panigirtzoglou have recently billed Solana to be a risk to Ethereum’s NFT market share. JPMorgan’s evaluation famous that Ethereum’s NFT market dominance had fallen from round 95% at first of 2021 to round 80% on account of excessive transaction charges.
For OpenSea, supporting Solana-based NFTs will imply extra buyers coming to its already extremely profitable platform.
NFT adoption not shedding any momentum
The strikes being made by OpenSea and Solana is simply the newest growth within the NFT area. Not too long ago YouTube’s CEO, Susan Wojcicki, hinted that the video streaming platform was contemplating integrating NFTs in 2022. She provides that this may assist creators on the platform monetize their content material extra simply.
Meta’s Fb and Instagram additionally plan to leap on the NFT bandwagon this 12 months. All this adoption has market members extremely optimistic that the NFT market will proceed the meteoric rise that began in 2021 that noticed it surpass $40 billion going by a Chainalysis report. Market pundit Kevin O’Leary, additionally not too long ago speculated that the NFT market has the potential to grow to be greater than Bitcoin.