OpenSea is the largest NFT (non-fungible token) marketplace with a turnover of $23.5 billion.In July 2021the value of the company was estimated at $1.5 billion, and in December the capitalization jumped to $13.3 billion.
NFT is an analogue of a digital signature, whichallows you to easily establish authorship, and also simplifies the process of donation and sale. Tokens have found the greatest use in digital art, and even the Hermitage uses them to sell its own collections.
Image source: dappradar.com
Initially, OpenSea supported only Ethereum,however, the growth of the network's commission costs (often exceeding $50) led to a slowdown in activity and the emergence of competing sites. As a result, a younger project on the Solana blockchain - Magic Eden - last year exceeded OpenSea twice in terms of the number of transactions with half the audience.
Image source: dappradar.com
Solana существенно превосходит Ethereum как по transaction processing speed (over 50,000 TPS at peak) and commissions (less than a cent). The network still lags behind in terms of security and decentralization, which sometimes leads to outages. However, the number of nodes is steadily growing (1652 at the moment), and with a capitalization of $39.7 billion, Solana challenges Ripple, aiming for sixth place in the overall ranking.
Image Source: Cryptocurrency ExchangeStormGain
Because OpenSea's ability to conduct cheaptransactions directly affect its popularity, the platform recently announced the inclusion of Solana in the list of supported blockchains in April. The addition of Solana as the largest NFT platform will increase demand for SOL, the coin has already risen in price by 16% this week. Solana will be the fourth blockchain on the OpenSea list, besides Ethereum, Polygon, and Klaytn.
The addition of Solana will help OpenSea attract more young artists for whom the ongoing cost of building NFT collections is unbearable, and help it maintain its market leadership.
Analytical group StormGain
(platform for trading, exchanging and storing cryptocurrency)
