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{"id":31820,"date":"2023-05-11T21:46:48","date_gmt":"2023-05-11T21:46:48","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/05\/11\/tensor-is-climbing-to-the-top-of-the-solana-nft-marketplace-totem-pole\/"},"modified":"2023-05-11T21:46:49","modified_gmt":"2023-05-11T21:46:49","slug":"tensor-is-climbing-to-the-top-of-the-solana-nft-marketplace-totem-pole","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/05\/11\/tensor-is-climbing-to-the-top-of-the-solana-nft-marketplace-totem-pole\/","title":{"rendered":"Tensor is climbing to the top of the Solana NFT marketplace totem pole"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/05\/11\/tensor-solana-nft-market-share\/<\/a><\/br>
\nTensor is climbing to the top of the Solana NFT marketplace totem pole<\/br>
\n2023-05-11 21:46:48<\/br><\/p>\n

\n

Just two months ago, NFT trading platform Tensor<\/a> raised $3 million in a seed round. Fast forward to today, and it is close to regaining its position as the biggest Solana-based NFT marketplace based on market share.<\/p>\n

\u201cA lot of momentum came from the announcement,\u201d Tensor co-founder Richard Wu said, speaking about the seed round, which TechCrunch covered exclusively<\/a> in March. \u201cWhen it comes to a marketplace, liquidity is key to attract users, and it had a snowball effect on itself.\u201d<\/p>\n

Tensor last week reached 45% of Solana\u2019s NFT market share, surpassing Solana-centric NFT marketplace Magic Eden\u2019s 44% share over a seven-day period, according to data<\/a> collected by Tiexo. While the 1% difference may seem nominal, it\u2019s a huge jump for a fairly new platform up against a giant with almost 200x the users.<\/p>\n

Tensor launched a private beta in June 2022 and opened to the public the following month. In March, it had over 30,000 monthly active users, and by April, its MAU was up about 317% to over 125,000, co-founder Ilja Moisejevs said.<\/p>\n

Compared to Magic Eden, which has 22 million<\/a> unique monthly visitors, that makes its share of the market is substantial.<\/p>\n

Magic Eden has since regained the top slot for Solana-based NFT volume over the past seven days with 44.2% share, per Tiexo data, and Tensor isn\u2019t far behind at 40.5%. But market share is \u201cnot the top priority\u201d for Tensor, Wu said. \u201cFor us, market share is a proxy for what we\u2019re building, but at the end of the day, our goal is to grow Solana 10x.\u201d<\/p>\n

\u201cI think a lot of people on Twitter like to dramatize things,\u201d Moisejevs said. \u201cThey want to see a battle of marketplaces. There\u2019s healthy competition between us [and Magic Eden], but the point we want to drive home is we\u2019re not here to win 80% of a non-existent market. We want us to win, Solana to win, and we will be a bigger business if Solana as a chain does well.\u201d<\/p>\n

Solana is the third-largest blockchain for NFTs by sales volume, with over $3.96 billion in all-time sales, according to data<\/a> from NFT aggregator CryptoSlam. In the past 30 days, Solana NFT sales volume decreased about 24.4% to $73.3 million, the data showed.<\/p>\n

In general, the Solana ecosystem is getting stronger, at least compared to six months ago, Wu said. One prime example of that is the people and projects like Mad Lads, he said, adding that at one point, it was a top collection by volume ahead of some Ethereum blue chip collections. \u201cWhat they\u2019ve done and demonstrated with their launch on Solana is incredible.\u201d<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/05\/11\/tensor-solana-nft-market-share\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/05\/11\/tensor-solana-nft-market-share\/ Tensor is climbing to the top of the Solana NFT marketplace totem pole 2023-05-11 21:46:48 Just two months ago, NFT trading platform Tensor raised $3 million in a seed round. Fast forward to today, and it is close to regaining its position as the biggest Solana-based NFT marketplace based on market share. \u201cA lot […]<\/p>\n","protected":false},"author":1,"featured_media":31821,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[],"class_list":["post-31820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology"],"yoast_head":"\nTensor is climbing to the top of the Solana NFT marketplace totem pole - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/05\/11\/tensor-is-climbing-to-the-top-of-the-solana-nft-marketplace-totem-pole\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tensor is climbing to the top of the Solana NFT marketplace totem pole - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/05\/11\/tensor-solana-nft-market-share\/ Tensor is climbing to the top of the Solana NFT marketplace totem pole 2023-05-11 21:46:48 Just two months ago, NFT trading platform Tensor raised $3 million in a seed round. 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