As these NFT marketplaces keep rising, users are not left behind as they seek the best platform to explore and transact NFTs. Although most of the NFT activities are majorly minted and traded on the Ethereum blockchain, where popular exchanges like Rarible, Opensea have risen to become top players, the increasing popularity of Solana has birthed the Solana NFT community.
The blockchain platform has built its NFT marketplace known as the Solanart NFT marketplace, which allows users to buy or sell Solana-based NFTs.
The major goal of the marketplace is to promote creators and artists by offering them a seamless marketplace to share their works.
This article will be looking into the Solanart marketplace, how it works, and the major NFT collections on the platform.
What is Solanart?
Solanart is a fully-fledged NFT marketplace on the Solana blockchain. In simple terms, it is a place that allows creators to freely list their collections and permit users to acquire or sell Solana-based NFTs. In comparison, we can say that Solanart is like Opensea, which also operates on an open marketplace.
Is Solanart NFT Marketplace Legit?
Considering where it is coming from, which is the Solana blockchain, we can say that it is legit. Although the platform is still in the beta version, it won’t dispute the fact that Solanart is home to most top Solana-based NFT collections. Most of these collections have high trading volumes and strong attention from users of the Solana community.
With these collections and more to come, we see the platform becoming one of the leading NFT markets in the future.
How does the Solanart NFT Market Work?
When users want to sell their NFT, it is stored in a temporary account owned by Solanart and added to a database that stores all the sales data. So, when you make a sale, the program transfers the SOL amount from the buyer to the seller and then releases the NFT to the buyer. That is just like the conventional e-commerce store where you buy a product, and after making payment, you have access to your digital product.
Solanart uses both on-chain and off-chain data. While the off-chain data is stored on the database and used to display all the NFT for sale on the home page, the on-chain data, on the other hand, is used when showcasing NFT one by one.
The decision to use the database for the main page was made to easily sort all NFTs per attributes, price, oldest or newest sales. The on-chain data provides a secure and decentralized experience.
How to Get started in the Solanart NFT Marketplace
The first step in getting started in the Solanart market is setting up a Solana native wallet. We recommend using Phantom https://phantom.app, one of the most popular NFT crypto-friendly wallets on the Solanart marketplace.
You can go to chrome and download the phantom browser extension. However, if you don’t want to use Phantom, you can use Sollet https://www.sollet.io. It is another recommended wallet for the marketplace.
Once you have downloaded the Phantom browser extension, the next thing is to set up your wallet. You can start by clicking on “Create New Wallet” on the page that appears on the screen. Follow the subsequent steps and set up your wallet.
Funding Your Phantom Wallet
Once you are done setting up your wallet, the next thing is to fund it to transact on the platform. To do this, you will need to buy some Solana from a cryptocurrency exchange. You can do so through Binance or FTX exchange. Once you have purchased the Solana, go to your Solana tab in the Phantom app and click “Receive.” It will open a window that will show you the withdrawal address.
It is the address that you will insert on the withdrawal page of your Binance or FTX exchange.
Transacting on the Solanart Marketplace
Once you have loaded your wallet, the next thing is to connect your wallet. So, head to https://solanart.io and connect your wallet by selecting the “Connect Wallet” button in the upper right corner of the page.
You will likely see a list of the Solana wallet providers. You will have to select Phantom since it is the one you are using. Then, log in to your phantom wallet.
Once you are able to connect the wallet, you can start transacting on the Solanart marketplace.
Does Solanart Allow users to Cancel a Sale?
It is one of the major question’s users would like to know the answer to. Well, the answer is YES. Solanart allows users to cancel sales.
If you want to cancel an NFT sale, go to the “My NFTs for Sale” in the wallet section. Select “show my NFTs for sale” to see all the NFTs that are available for sale. Then select “cancel sale” and wait for some minutes, and you will see your NFT appear in your wallet.
Solanart Fees
The NFT marketplace charges 3% fees on the selling price of every transaction. The creator is the one that chooses the creator’s fees. However, it varies depending on the collection. So, it is necessary that you do your homework very well and ensure you have enough SOL to cover transaction fees before listing your NFT for sale in the Solanart marketplace.
Having looked into the major aspects of the Solanart market, let’s also look into the top 10 NFT collections on the platform.
Top 10 Collection on Solarnart
Solsea:
It is the first NFT marketplace that allows creators to choose and embed licenses when they mint NFTs. Creators and collectors know what they are selling and buying, respectively.
Degen Ape academy:
Each Degen Ape academy is an NFT on the Solanart platform. When you have an NFT, you own the underlying Degen Ape Academy. It is the first million-dollar NFT sale on the Solana blockchain. The Moontook capital, the first blockchain consulting firm, is the first to purchase the Degenerate ape academy for 5,980 SOL. The ape is said to be the 13th rarest in its collection.
Unirexcity:
Unirexcity appears in the NFT collection as comic books, video games (play to earn), animated series e.t.c. Through unirexcity, you earn passive income proportional to how prominent it is in the product. You can win valuable prizes when you play mini-games.
Skyline:
You can trade NFT in the form of Wicked Penguin Bone club and get easy access to digital collectibles. There is a total of 5555 uniquely generated Skyline NFTs on the Solana blockchain network and with a current floor price of 0.8 SOL.
Shkary Sharks:
Shkary Sharks are sold at a flat rate of 1SOL per token on Solanart. You’re free to use your artwork as much as it pleases you. When you burn Shkary Sharks, you are qualified to mint the mark of Kamohaoli. When you mint Shkary Sharks, you’ll be joining the shiver and bringing unique utility to the owner.
Solsisters:
It is a collection of NFTs that represents the mythical characters of the future returning to earth to save mother nature and her creations. You use Solsisters by connecting Solanart Solely to the Phantom wallet. It’s sold for 1.19 SOL per NFT. The main aim of the Solsisters is to drive change to the crypto industry and give way for a better future by looking for a more energy-efficient solution in the NFT space.
Block asset legends:
Block assets provide blockchain solutions for online gaming. It offers a crypto wallet and an online store for digital gaming assets.
Solantis:
Solantis NFT look to be the Pokemon of NFT. The total supply of Solantis is 9999 unique Solantis Sharks and is available for mint and trade on Solanart.
Daring Dragons:
Daring Dragons is a collection of 5555 hand-drawn uniquely generated NFTs. It exists in the dungeons and skies of the Solana blockchain.
Kam1:
The KAM1 Are 8888 Randomly Generated NFTs On the Solana blockchain and available for trade on Solanart. It is sold for a floor price of 1.20 SOL.
CONCLUSION
The NFT market is gaining a lot of popularity, and Solanart is one of the platforms tipped to surge in the future. The Solana blockchain network will likely help to draw more attention to the NFT marketplace.
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Written by: Narender Charan
