Try Quests to earn NEARSolana NFTs (2022)
Coin Introduction
==1. Project introduction== ==2. Team introduction== ==4.Token Application==
Solana is a highly functional open source project that banks on blockchain Co-founder : Anatoly Yakovenko SOL tokens are used for network fees and staking to become validators.
technology’s permissionless nature to provide decentralized finance (DeFi) solutions. Linkedin: https://www.linkedin.com/in/anatoly-yakovenko/
Because of the innovative hybrid consensus model, Solana enjoys interest Co-Founder : Raj Gokal
from small-time traders and institutional traders alike. A significant focus for Linkedin: https://www.linkedin.com/in/rajgokal/
the Solana Foundation is to make decentralized finance accessible on a larger scale.
Founded by former Qualcomm, Intel, and Dropbox engineers in late-2017, Solana is a
single-chain, delegated-Proof-of-Stake protocol whose focus is on delivering scalability ==3. Investment institution== ==5.Token distribution==
without sacrificing decentralization or security.Core to Solana's scaling solution is a Alameda Research, Seed round investors: 16.23%
decentralized clock titled Proof-of-History (PoH), built to solve the problem of time Multicoin Capital, Founding sale investor's: 12.92%
in distributed networks where there is not a single, trusted, source of time. SeaX Venture, Validator sale investor's: 5.18%
By using Verifiable Delay Functions, PoH allows each node to locally generate timestamps etc. Strategic sales investors: 1.88%
with SHA256 computations. This eliminates the need for the broadcasts of timestamps CoinList auction sale: 1.64%
across the network, improving overall network efficiency. Team members: 12
NFTs on SOLANA
Mint, sell, and trade NFTs at scale.
Solana’s high throughput and low fees make it a perfect fit for NFTs of all shapes and sizes.
The bulk of NFT trading happens on the Ethereum network, in many ways mirroring the liquidity allocation within DeFi where Ethereum also comfortably leads. But Ethereum faces competition, and in the same way that alternative layer one blockchains have gradually sucked liquidity from the giant, a similar trend has been established in the realm of NFTs.
This article provides an overview of the budding Solana NFT space, currently Ethereum’s greatest competitor.
What are Solana NFTs?
In short, a Solana NFT is simply an NFT created on the Solana blockchain.
But what does that mean, exactly? An NFT or Non-Fungible Token is a blockchain-based certificate verifying ownership. These cryptographic assets and the contained metadata are unique and, therefore, non-fungible. The concept of fungibility relates to the quality of interchangeability; a dollar can be exchanged for another dollar, a bitcoin can be exchanged for another bitcoin, and a SOL can be exchanged for another SOL; hence these items are fungible. Something which is non-fungible cannot be exchanged, and many (but not all, such as ERC-1155s) NFT are unique and individual; therefore cannot be exchanged for another.
How do Solana NFTs Work?
Solana differentiates itself from the majority of alternative layer one projects given that it is not EVM (Ethereum Virtual Machine) compatible. Solana uses a unique coding language Rust, as opposed to Solidity. Subsequently, Solana has a different token standard.
Returning to Solana’s hybrid consensus mechanism, it must be remembered that Solana was designed centrally around the belief of mass adoption, and therefore speed and scalability lies at its heart.
Any blockchain consists of four main elements: a peer-to-peer network, cryptography, a consensus algorithm, and punishment and reward. To deliver incredible throughput, Solana blends PoS and PoH. Proof of Stake refers to nodes in the network committing tokens for a time period in exchange for the opportunity to be selected to validate the next block of transactions and earn a reward. Proof of History refers to the method of validating the order or sequence of transactions. Solana’s blockchain is segmented into periods of time, slots; the period in which each leader ingests transactions and produces a block. Leader nodes keep track of the passage of time. This time stamping solution allows transactions to be verified as valid by the rest of the network without filling an entire block, reducing latency and boosting throughput.
Top NFT Projects on Solana
DeGods
Headed by Frank, the DeGods collection implemented many intriguing mechanisms and maintains a strong community. It introduced the PHBT tax, which punished people for selling their NFTs too early and listing below the floor price on secondary markets; this tax was later dropped. Parts of this collection are burnt; there was a secondary collection known as DeadGods and the $DUST token. DeGods continues to execute different strategies to provide value to investors and remains a mainstay of the Solana NFT space.
Solana Monkey Business
A 5000 strong troop of pixelated monkeys derived from 99 unique traits. This collection has the second largest market cap and built a strong community around the idea of ‘‘Reject humanity, return to monke.’’
Degenerate Ape Academy
Another monkey-themed NFT collection and the third largest ranked via market cap. Owners retain intellectual property rights, and this 10,000 piece collection encourages brotherhood and rebellion. It also grants access to the Degen DAOO. The Degenerate Ape Academy website reveals a refreshing attitude towards creation only possible in the DeFi space.
Aurory
Aurory is a play-to-earn game taking place in the worlds of Antik and Tokané. This Japanese role playing game features magical creatures known as Nefties, which can be hatched, evolved, battled, and traded. Aurory represents a great entry point to crypto for gamers and offers exciting gameplay for users.
Methodology
In this board, we talk about the NFTs of the Solana ecosystem and how they work.
But first, in the first part, we look at the NFT market in each of the famous blockchains and how they work in the last year.(2022)
In the second part, we will take a look at the NFTs available on the Solana blockchain and check the progress of each NFT.
And in the end, we look at the three key NFT marketplace in solana that will have the largest share of the market in 2022.
Number of NFTs sold:
In 2022 Solana has really done good job in NFTs and has lot's of great NFT project and got second place. in first place Ethereum get seat and that okay but third place has great competition, Flow that is a NFT blockchain and has lot of great project like NFT all day and NBA top shot and It has had a steady trend while Algorand with help of FIFA NFTs has grown significantly
Volume of NFTs sold in $USD:
Ethereum by far has largest volume the general trend of the sales volume chart is downward in general Ethereum NFTs has higher age and there is more great project in Ethereum and some of them is older than all of these blockchains. Solana while has highest sale count but lower volume and shows one or both of these two factor : 1. Solana NFT projects has fake sale transaction 2. the price of Solana NFTs is much lower. as my experience second factor is totally true. most of Solana NFT has less than 1K or 10K USD and very rare to see higher price while in lowest price of some collection is higher than 10K or 50K and this price different shows while Ethereum NFTs volume is higher. while in transaction count Algorand and Flow has close competition in volume Flow has much higher volume than Algorand. the reasons for than came from point that Algorand main project (FIFA) has low price while Flow NFTs project has much higher price. Optimism and Near NFT volume is so low that we can ignore them.
Number of unique NFTs buyer: count the number of unique wallet that bought an NFT on each blockchain.
Average price of NFTs sold in $USD: calculate the average price of NFTs sold on each blockchain. This value shows which blockchains have more expensive and which cheaper NFTs.
Number of NFTs sold: (sot by marketplace)
Volume of NFTs sold in $USD: (sort by marketplace)
Number of unique NFTs buyer & Average price of NFTs sold in $USD (sort by marketplace)
Magic Eden : Magic Eden Magic Eden is the largest NFT marketplace on the Solana blockchain. It allows traders to buy, sell, mint and manage tokens, and it includes a thriving secondary market.
CoralCube is an NFT marketplace and aggregator that aims to highlight three columns of web3 in the context of NFTs: -Easy and smooth access to the digital content on the Solana blockchain and interactions with on-chain NFT marketplaces.
Solanart is a fully-fledged NFT marketplace based on the Solana network that allows anyone to acquire or sell Solana-based NFTs. Solanart aims to help promote artists and creators by providing them with a trustless marketplace to share their art.
