OpenSea has recently included Solana NFTs on its platform. NFTs on the Solana chain have been rising in popularity due to their offer of low gas fees and speed. If you haven’t heard of Solana NFTs before, you’ll want to check out our article about what it is and how to buy them.
Table of Contents
What is Solana?
Solana is a smart contract platform that uses the proof of stake mechanism, which Ethereum also uses. It is also one of the most popular blockchains for NFTs. It stands out from other blockchains due to its speed and low gas fees, answering user demands for faster and cheaper transactions. Its proof of history protocol allows for immediate transactions without needing to wait for the latest block of transactions.
Solana’s native token is SOL – similar to ETH, it can be used for certain functions such as running decentralized apps.
Solana was founded by co-founders Anatoly Yakovenko and Greg Fitzgerald, the CEO and CTO of Solana respectively. The team behind Solana are a passionate bunch dedicated to making Solana the next biggest blockchain. Having the users be in control of the data is one of the highlights of the platform for CEO Anatoly.
What is the price of Solana token?
The current Solana price is
What Are Some Popular NFT Marketplaces?
Solana NFTs can be bought from the popular platform OpenSea. Some other top Solana marketplaces include Magic Eden, Solanart, Exchange Art, and SolSea.
Magic Eden is currently the most popular Solana marketplace, with 132k users and upwards of $104 million in incoming value over the past 7 days. In comparison, Solana transactions on OpenSea have 26k users and $6 million in volume over the same time period.
How To Buy Solana NFTs
Want to buy or collect Solana NFTs? Just follow these simple steps and you’ll be on your way to owning your own NFT in no time!
Step 1: Buy Cryptocurrency - SOL
You need to have cryptocurrency in order to purchase NFTs. As OpenSea is a popular platform that is familiar to most NFT enthusiasts, our guide will be using OpenSea as an example. However, these same steps should also apply to the other NFT marketplaces. First, you’ll need Solana (SOL) in order to buy a Solana NFT. Solana can be purchased on most major crypto platforms such as Binance, Crypto.com, Coinbase, Kucoin and more.
Step 2: Get a Solana Wallet
In order to buy and store NFTs, you’ll need a Solana wallet. Some popular Solana wallets include Exodus and Phantom. These are software wallets which are convenient to use, but are more appropriate for small transactions. The Phantom wallet is also available as a Chrome Browser Extension. Proceed to create an account for your wallet and you should be all set for the next step!
Note: Please only download from official websites. Downloading wallets from any other website which pretends to be the official website may cause you to lose all your cryptocurrency via phishing.
Step 3: Transfer SOL to Solana wallet
Now, send SOL from your crypto platform of choice to your Solana wallet. Simply send the token from the platform to your wallet address. You can copy your wallet address by simply clicking on the wallet name in the browser extension as shown in the screenshot below:
Then, head to the crypto platform where you purchased SOL and paste this address to the withdrawal address field.
Step 4: Connect Your Solana Wallet to OpenSea
Next, you are ready to connect your wallet to OpenSea! If you haven’t already, create an account on OpenSea. Next, click on the wallet icon and choose your wallet. Click Connect, and allow OpenSea to connect to your Solana wallet.
Step 5: Buy Solana NFTs
You’re now ready to purchase your first Solana NFT! Browse the Solana section on OpenSea. Once you’ve found an NFT you’d like to purchase, click Buy Now. A checkout window should appear next and once approved, you now own the NFT! Alternatively, you can make a bid on an NFT and the NFT is yours once accepted by the seller.
Summary
There you have it! Our step-by-step guide to buying Solana NFTs. In short, the steps are:
- Buy SOL
- Get a Solana Wallet
- Transfer SOL to your Solana Wallet
- Connect your Solana Wallet to OpenSea
- Buy Solana NFTs
Compared to buying ETH NFTs, this is a bit simpler as there are little to no gas fees to contend with.
