With lower fees and better network transfer speeds, Solana is looking to be one of the next big players in the NFT space. A true rival to Ethereum, the average fee for a Solana transaction is typically calculated in cents rather than dollars. And, with speeds of up to 50,000 transactions per second, the network is able to complete transactions much faster than its rival blockchains thanks to its proof-of-history consensus mechanism and its high hardware requirements for running a node.
With Ethereum’s runaway gas fees now pricing out some investors, many creators and collectors are now looking to Solana to trade NFTS.
For those looking to capitalize on the blockchain’s speed and low fees, here are the top 10 best Solana NFT marketplaces.
Generally regarded as the leading NFT marketplace on Solana’s blockchain, Magic Eden allows the minting, selling, and buying of NFTS, having now traded over 4.7 million SOL.
Magic Eden’s aim is to make the minting and collecting process as easy as possible for users and therefore have a 0% listing fee. Instead, the platform simply rakes 2% from each transaction.
Most Solana wallets are supported, including Phantom, Slope, Solflare, and Ledger devices.
The platform features many popular Solana NFT projects, including DeFi Pirates, MonkeLabs, Stoned Ape Crew, and OnlyDice.
Looking to be the OpenSea of Solana, SolSea is an open NFT marketplace that enables creators to embed licenses into their NFTs upon minting for commercial or private use. This means royalties can be set by creators for future profit and buyers know exactly what they are getting, allowing projects to be verified with blue ticks.
SolSea also introduces a rarity rank feature, making it easier for buyers to understand the scarcity of a token as well as a calendar function that can alert you for upcoming drops.
Transactions are charged at 3% with no listing fee, and the platform supports all major Solana compatible wallets.
Solanart is an NFT marketplace home to some of the blockchain’s original NFT projects, including SolPunks, Aurory, and Degenerate Ape Academy.
The marketplace has one of the slickest websites out of all the platforms on this list while still making it easy to find and buy NFTs. The platform’s database is stored off-chain to increase the sortability and speed of the marketplace.
Minted NFTs are held in escrow by the platform, meaning trades are secure for both parties. There is a 0.02% listing fee involved and sales incur a 3% commission on top of the creator’s.
Though most wallets are supported, Solart recommends users use Phantom wallet to ensure there are no difficulties encountered.
Metaplex aims to replicate what Shopify did for e-commerce in the NFT space. The platform allows creators to create their own self-hosted branded storefront using Metaplex’s simple drag-and-drop tools. Fully decentralized, the platform uses Arweave to store artwork and is committed to removing the middleman in the NFT space.
Removing the restrictions placed on creators by traditional marketplaces, the open-source project has been created to empower creators to sell their NFTs as they see fit.
One of Metaplex’s unique features is the ability to collaborate and split royalties with ease, with the contract hard-coded into the NFT itself.
A Solana marketplace similar to Ethereum’s SuperRare, digitaleyes.market is a platform that is looking for the most exclusive NFTs to offer collectors.
Only focussing on verified collections, digitaleyes is not geared towards the general collector looking for an NFT that catches their eye. Instead, the platform has accrued a collection of some of the rarer tokens available on Solana, meaning you would visit digitaleyes looking for something specific. Though, it should be said that the platform is expanding its collection and range of token scarcity rapidly.
As expected with rarer tokens, fees are a little higher than some other marketplaces, with a flat 2.5% service fee on all sales.
Built on Solana’s non-custodial decentralized exchange protocol, Serum, Solible is one of Solana’s most exciting NFT marketplaces. One of Solible’s unique selling points is its ability to link Solana NFTs to real-world physical assets such as clothing and paintings.
Running on Serum, NFTs are now exchangeable for USDC, Frontier, and Serum’s native currency, SRM. The platform is therefore only compatible with Sollet and Bonafida.
Though largely underutilized, Solible’s ability to link NFTs to real-world items such as Soccer shirts makes it an interesting marketplace to consider.
The popular decentralized exchange based in the Bahamas, FTX, also has a thriving NFT marketplace that is based on Solana.
The marketplace allows users to trade, mint, auction, as well as to authenticate Solana NFTs, with plans to extend support for Ethereum tokens in the future, acting as a potential bridge.
The marketplace differs from other Solana NFT platforms in that purchases can be made directly with fiat currency via credit cards. This makes FTX a popular choice for projects looking to target those not familiar with cryptocurrencies. It has recently been used to sell Coachella perks and VIP access.
Built upon the Solana blockchain, TIEXO is a cross-chain NFT marketplace and design tool that helps creators launch their projects with ease.
Most popular on the platform is the Cryptonauts Academy collection of NFTs, used to showcase the platform’s technology.
Leveraging the Wormhole cross messaging protocol, TIEXO hopes to expand the marketplace to enable cross-chain swaps between different blockchains such as Ethereum, Binance, Polygon, and Polkadot.
TIEXO is also enabling users to stake their NFTs to earn potential rewards from holding them.
Though not officially launched, rumors are circulating that OpenSea, the biggest Ethereum NFT marketplace is due to support Solana-based NFTs in the near future.
Based on leaked images, the unconfirmed news means creators will have access to the crypto space’s biggest NFT audience, joining Ethereum and Polygon on the marketplace.
Should Solana be supported by OpenSea, it would prove a boon to both platforms. Creators and holders looking to launch or sell in the near future may decide to hold fire if this rumor proves to be true, with OpenSea’s large marketplace making selling a lot easier.
New kid on the block, the Woof NFT marketplace is an upcoming platform that aims to be entirely self-governing, run by the community, for the community as a DAO.
Though the marketplace is yet to be launched, it is expected in Q1 or Q2 of 2022 according to the project’s roadmap and is generating quite a bit of buzz for the community-based philosophy behind it.
The project has already launched its own collection of NFTs, “Woofers”, to generate income for the platform and is forging partnerships with leading NFT creators ready for the marketplace’s launch in 2022.
Whether you’re looking to flip some NFTs or launch a brand new project, these are undoubtedly some of the best Solana NFT marketplaces to do so. And, with new platforms launching regularly, the future for Solana-based NFTs is looking bright.