A look at the Solana NFT ecosystem, the second largest blockchain by NFT sales volume just behind Ethereum.
Given the network’s speed and low costs, Solana has become home to several NFT trading platforms that allow collectors to buy, sell and trade Solana-based assets.
Top NFT Marketplaces on Solana
Listing an NFT on Magic Eden attracts a fee of 0%. However, the platform charges a 2% transaction fee. Creators can also set their royalties and receive payment immediately after a sale happens.
Magic Eden supports most Solana wallets, including Phantom, Slope, Sollet, Solflare, Clover, Ledger, Solong and MathWallet.
Another interesting feature that Magic Eden gives to creators is its launchpad. It is designed to help NFT artists mint their collection without having to deal with technical know-how.
Like Magic Eden, Solanart allows users to create, sell and buy Solana-based digital collectibles. The platform, however, charges a transaction fee of 3% on every successful NFT sale.
Despite being in fifth place in terms of overall trading volume, SolSea touts itself as “the first NFT marketplace that enables creators to choose and embed licenses when they mint NFTs.” Although other NFT marketplaces are beginning to integrate the functionality, SolSea was one of the first to release rarity rankings. The platform calculates the rarity rank, score and traits of every fully minted collection on its marketplace.
As for fees, SolSea charges a 3% transaction fee.
Top NFT Collections on Solana
Solana Monkey Business
Much like CryptoPunks and BAYC, Solana Monkey Business (SMB) is a blue-chip project on Solana, attracting notable owners like Steve Harvey, Steve Aoki and Alexis Ohanian. Although the original collection launched in June 2021 with just 205 total NFT collectibles, the Gen 2 collection of 5,000 pixel monkeys shot the project to the limelight and is more commonly associated with the SMB brand.
SMB holders get access to MonkeDAO, the first official NFT decentralized autonomous organization (DAO) on Solana. The DAO holds on-chain elections, operates its own node on the Solana blockchain, and brings value to holders through special projects and meetups.
Degenerate Ape Academy
With an all-time secondary sales volume of over $120 million, Degenerate Ape Academy (DAA) is the largest NFT collection on Solana. Minted in August 2021, the collection consists of 10,000 ape avatars. Interestingly, the entire collection sold out in less than 8 minutes, which was a huge surprise to everyone.
According to its founders, DAA was created on the principles of “friendship making, crayon eating and absolute, unregulated, deplorable, degenerate behavior.”
It is also worth mentioning that DAA made history as the first million-dollar NFT collection on Solana, with a current floor price of 75 SOL or $7,500.
It is almost impossible to scroll through Solana NFT Twitter without stumbling on a post about DeGods. With the lowest-priced piece in the collection sitting at almost $20,000, DeGods has grown to become more than an average PFP project.
Holders who stake their NFTs are rewarded with 10 $DUST daily, a utility token is already being integrated with Magic Eden, metaverse projects and play-to-earn games.
Cets on Crack
Despite being a newcomer, Cets on Crack is one of the most hyped projects on the Solana NFT scenes. In just a month after the project launched, its floor price surged to over 40 SOL, a testament to the power of community.
There have been rumors that Cets are linked to BAYC. Nevertheless, the project has focused on branding and storytelling.
There is no talking about Solana OG NFT projects without mentioning Thugbirdz. This collection of 3,333 pixel birds features different rarity traits based on shades, hats, earrings, face tattoos and lots more. The collection is being run by ThugDAO and has attracted big holders like Wiz Khalifa and Anatoly Yakovenko, the founder of Solana.