Solana’s digital art world, Tensor, a platform for buying and selling special online assets, has become the most popular in Solana’s NFT marketplace.
Tensor, which started earlier this year, has outdone Magic Eden in how much people are trading on the network.
In November this year, Tensor traded over $1 million worth of NFTs, which is almost twice as much as Magic Eden, says the TIEXO analytics tool. This means Tensor now has about 60% of the whole market for trading these special digital items on Solana, leaving Magic Eden with less, around 30%.
Even though Tensor is doing better in trading, Magic Eden still has more people using its special wallets. Magic Eden has about 116 thousand wallets, and people are using them about 70% of the time. On the other hand, Tensor has 86 thousand wallets, and people are using them about 52% of the time.
According to Ilja Moisejevs, one of the founders of Tensor, it was not easy to make Tensor successful. He said they did a lot of things that didn’t work on a big scale at first. They even messaged top traders directly to try their product, and while many said no, some said yes, and that was enough to get started.
Moisejevs added that Tensor is strongly connected to Solana, even when the price of Solana’s native money, SOL, went down to $8. He said, “We stayed and doubled down.” For Tensor to do well, Solana needs to do well too, Moisejevs mentioned.
Tensor began as a platform for professional traders like Blur, a platform for Ethereum. Although they still prioritize professional traders, Moisejevs mentioned that they are slowly trying to appeal to everyday traders too.
🚨 AIRDROP RUMOUR $TENSOR 🚨@tensor_hq one of the leading NFT marketplaces on Solana has introduced a Blur-like points system for trading and providing liquidity.
Extra points for staking a Tensorian NFT ( their own collection)
Our link:https://t.co/HpTZN71OTD
— DeFi Airdrops 🦇🔊 (@defi_airdrops) November 30, 2023
There’s also talk in the community that Tensor might do something similar to Blur, like airdrops. Recently, people were encouraged to buy Tensor’s special digital items called Tensorian NFTs. These give buyers special access to Tensor’s pro trading and exclusive chat rooms. The Tensorian collection is now very popular, with a trading volume of $11.5 million on Solana.
Solana's NFT scene is 🔥! Tensor has taken the top spot, surpassing Magic Eden with a monthly trading volume of $1 million. Tensor now dominates with 60% market share. It's a rising star in the Solana NFT galaxy. 🚀 #Solana #NFT #Crypto #Tensor
— BlockVoyager (@BlockVoyagerAIO) December 7, 2023
