Solana NFT Marketplace Development
The crypto market went crazy for NFTs last year and the interest in NFTs is sky-rocketing among the crypto aspirants. NFTs are a trending topic from the last year and have surged to $21 billion in 2021 which will be expanding in the future. NFTs and NFT Marketplace have gained ginormous popularity among many crypto investors, entrepreneurs, and even celebrities to showcase and sell their digital artworks. Solana blockchain surpassed other blockchains by its performance and Solana’s TVL has soared from $1 billion to $10 billion in less than a month. Hence, Many crypto investors found Solana as a suitable blockchain to build NFT Marketplace. Solana blockchain has been acclaimed to be the “Ethereum Killer” which has outperformed the ethereum blockchain in terms of speed.
Benefits of Solana NFT Marketplace Development
- Solana Blockchain satisfies the three essential properties as Decentralized, Scalable, and Secure.
- Solana is completely censorship-resistant which enables the applications to run openly.
- Solana charges a very low gas fee compared to other blockchains which were more attractive to crypto investors.
- The vital benefit of Solana was its speed, it sustains 710000 transactions per second and it is 3500 times faster than other blockchains.
- Solana has its own native token SOL which helps the investors to stake and earn passive income and rewards.
Solana NFT Marketplace Development Process
Steps involved in the Solana NFT Marketplace Development Process
- Determine the client’s scope and requirements of the project.
- Developing an attractive User interface for smooth operations.
- Compiling the essential NFT Marketplace functionalities.
- Create Smart contracts with the appropriate specifications.
- Audit smart contract with multiple test cases.
- Integrate Smart Contract with Front and Back-end.
- Integration of digital Wallet to store NFTs.
- Progress to the Testing phase to resolve bugs and errors.
- Launching beta version to check the performance of the application.
- Deployment in the Mainnet.
Top 5 Solana NFT Marketplaces
NFTs and NFT Marketplace have emerged as one of the biggest utilities in blockchain technology and are gaining traction among the mainstream audience which includes the ownership of digital as well as physical assets. Here are the top 5 Solana NFT Marketplace that facilitates efficient NFT Trading.
Metaplex is the Solana-powered NFT Standard that helps the creators to build and launch NFTs. It helps to start your own NFT storefront to mint, sell, host auctions, visualize NFTs in a standard way.
Magic Eden is one of the leading Solana NFT Marketplaces that helps digital creators to showcase their NFTs. The transaction fee in magic Eden is approximately 2% and it does not charge a listing fee.
Solanart is the first NFT Marketplace on Solana that helps artists and creators to showcase their arts in a fully-fledged Marketplace. Solanart takes a 3% marketplace fee on every transaction.
Solsea is the first open NFT Marketplace on Solana that enables the creators to embed license(NFT-PROs) to mint their NFTs, calculates rarity ranks, and supports wallet funding with contemporary features.
DigitalEyes is one of the open NFT Marketplace on Solana which enables seamless trading NFTs and provide verified status to all the NFT collections. The service fee in digital eyes is 2.50% on all sales.
Solana is the highly functional open source, high-speed layer-1 blockchain which combines the PoS and PoH which makes Solana unique compared to other blockchains. This helps in decentralization and maximizes the speed. Another biggest advantage of Solana is its cost-effectiveness through its high block time and block size. Stay ahead in the crypto sphere by availing of Solana NFT Marketplace Development services from the market-leading NFT Marketplace Development Company.