After The Block learned about the platform, it published a report indicating that Solana-centric collections are denominated in SOL. The company said that it was only in beta mode and made functions unavailable.
Until today, OpenSea had mostly catered to Ethereum-based NFT. With the Solana news, they are now also expanding to include NFTs from other blockchains. They raised $300 million in January at a $13 billion valuation.
Last week OpenSea tweeted a tease indicating that there would be an exciting announcement. Apparently, the Solana integration was exactly what they teased us all to wait for.
It remains to be seen how the development will impact the Solana ecosystem. Current marketplaces, such as Magic Eden, might lose their leading position.
Solana tokens saw $173 million in volume according to CryptoSlam. The Block’s Data Dashboard shows that OpenSea had trade volumes last month of approx. $3.4 billion. By the latest count, about 9.7 million NFTs have been created through Metaplex by third parties.
