Solana NFT Marketplace
If you’re in the know, you already can write blogs about NFTs or Non-Fungible Tokens. If not, get a quick start here – What is an NFT?
NFTs can be traded on NFT marketplaces, and the currency of these transactions is generally a cryptocurrency. While Ethereum is popularly used for most transactions, there are other currencies such as Solana (SOL) that are gaining popularity as well.
In this article, our focus is on finding the best Solana NFT Marketplace.
What is Solana?
Solana is a high-performance blockchain network that was launched in April 2019, based on the white paper written by Anatoly Yakovenko that was published in November 2017. Currently, there are 1650 validators (validators help process the transactions) on the Solana mainnet. SOL is the token (or cryptocurrency) of the Solana network. As of writing this article, Solana is carrying out more than 2,200 transactions per second, at an average cost of $0.00025 per transaction.
What Are The Key Features of Solana?
The four main features of the Solana Network are the following:
- Solana is highly scalable. Its scalability is good enough for global adoption.
- Transaction fees on the Solana network are cheap. Cost-effective transactions help both – the users as well as the developers.
- Solana boasts of superfast speeds.
- Solana is committed to the mission of staying decentralized and free from censorship.
Scalability Good Enough For Global Adoption
Cost-Effectiveness of Transactions for Users as well as Developers
Superfast Speed of Network
Commitment To Decentralization
The promise of a cheap, superfast, decentralized network has earned Solana many fans around the world. The Solana community also has an online presence on Twitter (1.5 million+ followers), Youtube (18k+ subscribers), Discord (40k+ members), Reddit (30k+ members), etc.
What is a Solana NFT Marketplace?
Simply put, a Solana NFT marketplace is any digital platform that enables the sales of NFTs on the Solana network, using Solana’s cryptocurrency token SOL. There are no barriers to entry, and actually, if you have the development skills, even you can create your own Solana NFT marketplace!
How many Solana NFT Marketplaces are there?
We have included 14 Solana NFT Marketplaces in our list below. As the popularity of Solana network, and that of NFTs increase, this list will keep on growing in the future.
Which are the top 12 Solana NFT Marketplaces?
The top Solana NFT Marketplaces are the following:
- 1. Solanart: Solanart.io – Discover, Collect, and Trade NFTs
- 2. Magic Eden: MagicEden.io – NFT Marketplace
- 3. Metaplex: Metaplex.com – The NFT Standard For Solana
- 4. Solsea: Solsea.io – The Open NFT Marketplace on Solana
- 5. DigitalEyes: DigitalEyes.market – Solana’s First Open NFT Marketplace
- 6. Artz: Artz.ai – Decentralized NFT Marketplace
- 7. Alpha Art Market: Alpha.art – A-Class Trading
- 8. Exchange Art: Exchange.art – The Home of 1/1 NFTs on Solana
- 9. SupaDrop: Supadrop.com – Invest in Culture
- 10. Solport: Solport.io – Marketplace For The People
- 11. FTX: FTX.com – Buy, Sell, and Mint NFTs
- 12. LIQNFT: LIQNFT.com – Fractionalized NFT Marketplace on Solana
1. Solanart: Solanart.io – Discover, Collect, and Trade NFTs
Solanart is an NFT marketplace that runs on the Solana blockchain. Anyone can create a storefront on Solanart and list their NFTs for sale. On Solanart, you can buy NFTs from the storefronts created by artists, and also from other users who might be reselling some NFTs.
Steps to buy an NFT on Solanart’s Solana NFT Marketplace
- 1. To do transactions using SOL on Solanart.io, you will need a Solana wallet such as Solflare, Sollet, Torus, Ledger, Phantom, Slope, etc.
- 2. Download and install a wallet extension for your Solana wallet. Solflare and Sollet have a Chrome extension available for easy connection.
- 3. Buy SOL on any exchange such as Binance or Coinbase, and move the SOL coins to your Solana wallet’s public address.
- 4. On the website solanart.io, connect the wallet to see the available balance.
- 5. Once the wallet is connected and you can see your balance, you can pick any NFT you want to buy and pay for it using your SOL balance in the wallet.
These steps will be pretty much the same across all the Solana NFT marketplaces.
Solanart charges a 3% marketplace fee on every sale. Creators can charge an additional fee as creator’s fee on top of the marketplace fee.
2. Magic Eden: MagicEden.io – NFT Marketplace
Magic Eden is probably the most well-known Solana NFT Marketplace today. Founded by four friends Sidney Zhang, Jack Lu, Zhuoxun Yin, and Zhuojie Zhou, Magic Eden is a web3 first NFT marketplace.
You can connect your SOL wallet and purchase NFTs on the Magic Eden marketplace.
If you want to list your NFT on Magic Eden, you can do so at 0% listing fees. However there is a 2% fee charged by Magic Eden on all transactions.
3. Metaplex: Metaplex.com – The NFT Standard For Solana
Metaplex is also one of the best Solana NFT marketplaces. It calls itself the fastest and most affordable NFT ecosystem that has an average minting cost of less than $1 and ZERO platform fees. On Metaplex, you can create your own storefronts to sell your NFTs.
4. Solsea: Solsea.io – The Open NFT Marketplace on Solana
Solsea claims to be the first Solana NFT marketplace to enable embedding of licence while minting the NFTs. This allows for more transparency between the creator and the buyer.
Solsea charges a 3% marketplace transaction fee on every sale of NFT. In addition, for creators, there is a small fee for listing your NFTs on the marketplace. The fees for minting NFTs depend on the size of the file uploaded, the larger the size, the higher the fees.
5. DigitalEyes: DigitalEyes.market – Solana’s First Open NFT Marketplace
DigitalEyes is another marketplace for buying and selling NFTs. You can simply connect your wallet, head over to your desired NFT and make a purchase. There is a transaction fee of 2.5% on every sale (they also run promotions when the transaction fees are lower). However, DigitalEyes marketplace does not charge any fees for listing of the NFTs by creators.
DigitalEyes supports the following wallets: Phantom, Sollet, Solflare, Solong, Slope, Clover, and MathWallet.
6. Artz: Artz.ai – Decentralized NFT Marketplace
Artz claims to be the first truly decentralized Solana NFT Marketplace. Even when a creator lists an NFT on the Artz marketplace, the NFT remains in their wallet until it gets sold and gets transferred to the new owner.
The transactions take about 30 seconds for confirmation and the transaction fees are 2% of the sales value on Artz. Listing of NFTs on Artz is free for the creators.
7. Alpha Art Market: Alpha.art – A-Class Trading
Alpha Art claims to be a revolutionary Solana NFT marketplace that has zero listing fees. You can simply connect your wallet and start exploring NFT collections, and buying what you like.
Alpha Art supports the following wallets: Phantom, Slope, Solflare, Ledger, and Sollet. Alpha Art doesn’t charge any listing fee for creators, however, there is a flat 2% transaction fee on a successful sale.
8. Exchange Art: Exchange.art – The Home of 1/1 NFTs on Solana
Exchange Art is an NFT marketplace that has a huge collection of NFTs ranging from 3D art to Game to Experience.
There is no fee to list an NFT on Exchange Art, but there is a 2.5% transaction fee on the confirmed sale value. You can easily connect your Solana wallet to Exchange Art and start exploring the wide variety of NFTs available there. The wallets supported for this Solana NFT marketplace are the following: Phantom, Solflare, Slope, Torus, Ledger, Blocto, and Sollet.
9. SupaDrop: Supadrop.com – Invest in Culture
Supadrop is a community-driver Solana NFT marketplace for buying and selling digital art NFTs. The focus of Supadrop is on empowering the emerging small and individual creators.
Supadrop charges the creators a small miniting and listing fees of 0.01 SOL and 0.03 SOL respectively. The transaction fee is 2.5% based on the sale value of a successful transaction.
There is a Supadrop Alpha membership that comes with rewards such as 0% platform fees, i.e. you do not pay transaction fees to the marketplace for selling your NFTs.
10. Solport: Solport.io – Marketplace For The People
Solport is a marketplace for buying and selling NFT collections. The NFTs can be listed as an auction as well as with a ‘Buy It Now’ price.
Solana wallets Phantom and Solflare are supported on Solport marketplace. There is a 2% transaction fee on Solport for a successul sale.
11. FTX: FTX.com – Buy, Sell, and Mint NFTs
FTX is a primarily big exchange that allows trades of cryptocurrencies and derivatives. But, recently FTX has launched a Solana NFT marketplace where you can buy and sell NFTs using the SOL tokens.
Creators need not pay any listing fee on FTX marketplace, but there is a 2% transaction fee on the sale value.
12. LIQNFT: LIQNFT.com – Fractionalized NFT Marketplace on Solana
LIQNFT is the solution for those creators who want to allow multiple buyers for their NFTs. As a buyer, if you cannot afford to buy a full NFT at the full price, fractional ownership of the NFT could be a great solution for you. Much like fractional shares in the stock market, this can democratize the NFT investment world.
The transaction fees are not directly charged by the LIQNFT platform. For order matching and fulfilling, LIQNFT uses Serum (it is an on-chain orderbook management project – basically they keep track of all buy and sell orders placed) that charges a 0.22% transaction fee.
LIQNFT then gets a 20% of that 0.22% fee charged by Serum as a kickback for maintaining the platform operations.
Bonus: 1 Upcoming Solana NFT Marketplace + 1 More in Testing Phase
13. OpenSea (Almost There!): OpenSea.io – The Largest NFT Marketplace
OpenSea claims to be the world’s first and largest NFT marketplace. It has announced listing of Solana NFTs on its marketplace platform in April 2022.
14. Milkyway (Use With Caution)
Milkyway is a marketplace as well as an aggregator. However, they are in alpha phase, so please proceed with caution. We’d recommend to keep this on you list, but do transactions only once the team confirms they have released the final version and that it is safe to do transactions there.
Which is the Biggest or Largest Solana NFT Marketplace?
According to a Coindesk report, Magic Eden has claimed to have completed a transaction volume worth more than 7.5 million SOL (Solana’s cryptocurrency) in just 6 months. For reference, the price of 1 SOL is about $125 on March 31, 2022, imputing a transaction value of 937.5 million US Dollars.
If you’re an Solana + NFT enthusiast, there plenty of options for you to buy, sell, exchange NFTs on the aforementioned Solana NFT marketplaces. We hope you found the list of the marketplaces and the transaction fees helpful in determining which one you should try first! If you want to put your trust in the some of the largest ones, definitely consider Magic Eden.
This space is still evolving, and with OpenSea now becoming a Solana NFT marketplace, there might soon be more and more options available.
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