Several blockchains allow the buying and selling of NFTs, but Solana quickly stood out from the rest. The blockchain has its own tokens, uses a different proof-of-work method, and offers a major improvement in fees and transactions per second. Therefore, many NFT artists, buyers and sellers have started using Solana Blockchain.
Therefore, today we aim to explain how to find and buy NFTs on Solana, which are the best supported wallets, the different markets, etc.
It’s time for Solana to revolutionize NFT trading!
Solana is among the top blockchains with over 5.7 million NFTs and 400 projects on Defi, NFT, etc. It generated more than $12 million in revenue from dApps and generated around half a billion in NFT secondary sales in four months (August – November 2021).
The platform quickly gained popularity due to its high speeds and robust security, as well as low gas costs. This upgrade is due to Solana using the proof-of-history method which allows it to perform 50,000 TPS (transactions per second) while maintaining an average gas fee of $0.00025.
On the contrary, Ethereum can perform 30 GST and gas fees can reach up to $70. Moreover, this decrease in transaction costs also allows more artists, developers, collectors and traders to participate in the NFT revolution.
SOL is Solana’s crypto used to buy and sell NFTs on the blockchain. Currently, 260 million SOL have circulated on the market out of 489 million. Degenerate Ape Academy and Aurory are some of Solana’s best projects, and many projects coming in 2022 will also help platforms grow with more play to earn options.
How to buy NFT on Solana: where to find SOL ARTS? Everything you need to know!
Step 1: Download a Solana Wallet: First, users need crypto wallets to purchase NFTs on the Solana blockchain. Wallets such as MetaMask will not work, and you can select one of the dedicated wallets below:
1. Phantom: Available on Chrome, Brave, Firefox and Edge as an extension, Phantom allows you to send, receive tokens as well as trade them using the built-in DEX. Additionally, the wallet supports Web3 plus Ledger (hardware wallet), which makes it perfect for collecting NFTs.
2. Sollet: Rather than just an extension, Sollet opens as a full-page interface that allows you to buy cryptos to trade Solana NFTs on the Solana blockchain. Although Sollet is in beta Mainnet phase, it offers fast and smooth integration with other Defi protocols.
Get SOL tokens: First, head to crypto exchanges like Coinbase Where Binance and create an account. Then add the payment method like bank account, debit card, or wire transfer. Select Solana or SOL on the exchange page, enter the amount and complete your purchase. To send the Solana to your crypto wallet, go to your (Example) Phantom account, copy the address and paste it into the Coinbase exchange account. Fill in a few details and the funds will be transferred.
Step 3: Choose a Marketplace: There are many Solana-based marketplaces that can be used to buy or sell NFTs with Solana. The most popular of them include:
Best markets to buy NFTs on Solana
1. Solanart: Solanart is the largest NFT marketplace based in Solana which has achieved over 500,000 sales. The marketplace is easy to use, fast, and charges a marketplace fee of 3% on the selling price per trade.
2.DigitalEyes: Another popular Solana marketplace, DigitalEyes provides low gas fees on SOL transactions and offers the option to buy from a collection or solo artists. Additionally, a purchaser of Solana NFT will have to pay the royalty percentage fee when minting and a 0.99% service fee. ‘
3. Solsea: Besides buying and selling NFT Solana, SolSea provides different features such as rarity ranking, regular updates, FTX-Pay support, etc. The marketplace charges a 3% fee per successful NFT sale. Additionally, the platform will also have its tokens in the future called The All-Art Token.
Also see Best NFT Games to Make Money in 2022.
Connect your Solano Wallet to Solana Marketplaces to purchase SOL Art.
To purchase Solana art, you must first connect your Solana wallet. Phantom Wallet is one of the best for buying and selling Solana Art on SOL Marketplaces (ex. Solanart.io).
Step 1: Simply visit the website and click on connect your wallet in the upper right corner.
- Select your crypto wallet
- Click connect
- And finally, your crypto wallet will be linked.
Step 2: Find a Solana NFT: Use the top search bar to find an NFT collection on Solart.io or click Explore.
- Let’s say you like Degenerate Ape Academy on Solart.io.
- Then use the side filters to narrow the search based on attributes or type the name of a Solana NFT into the box.
Step 3: Buy an NFT on Solano: Click on the Solana NFT you wish to purchase and a pop-up window will open displaying its attributes, price, token details, and the option to buy or make an offer. Click on buy now, check the total cost as well as the fuel costs and click on buy!
Everything is ready to buy fuel-efficient Solana NFTs!!
Solana is a cheaper and faster alternative to traditional high cost transactions for trading and buying NFT. Solana-based NFTs can be bought or sold in any of the crypto wallets and marketplace mentioned above. Phantom and Sollet are the most preferred on browsers, as well as Solanart and DigitalEyes have low transaction fees.
The crypto wallet you select should be based on your needs such as desktop, mobile or browser, and if you already want a particular NFT from a specific Solana collection, first check which market it is on.