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    Solana Marketplaces: The Top 10 Blueprint!

    Created in 2017, Solana is an open-source user-friendly blockchain built by San Francisco-based Solana Labs. It is designed to host decentralized, scalable applications.  When compared to our marketplace giant Ethereum, Solana is much faster in terms of the number of transactions it can process with significantly lower transaction fees than its rival blockchain. In less than a year, the number of Solana Marketplaces dramatically increased!

    In detail, the Solana blockchain uses the cryptocurrency ‘Solana’ (SOL), and as I’m writing this, 1 SOL = $13.58. But wait! Did you know that through the Solana blockchain network, literally anyone can build NFT marketplaces, that’s why there are so many!. But before we dive into that, what makes Solana so special?

    Features of Solana Blockchain

    1. Proof of History (PoH):  An algorithm that allows faster processing time and lower transaction costs. At its core, PoH provides a way to cryptographically prove the passage of time and where events fall in that timeline. In a nutshell, it is a technology that encodes the timestamp of entries to its blockchain. Furthermore, this mechanism shows the users specific data about the history of creation and ownership of an NFT.
    2. Proof of Work (PoW): a method used to verify transactions where you are required to solve hashing problems. These problems verify and add new transactions on the blockchain aka mining.
    3. Transaction speed: Solana can process 2500+ transactions in a second. This blockchain provides developers with a highly scalable ecosystem to build powerful decentralized solutions with high TPS.
    4. Low gas fees
    5. Token: Solana has its own standard for tokenization, SPL Token, similar to Ethereum’s ERC-20.

    The Best Solana Marketplaces Criteria Checklist

    • Transaction Fees
    • Wallet support 
    • The Overall Community
    • Quality of listed Projects

    Our Top 10 Solana Marketplaces Picks

    1) Magic Eden

    Magic Eden

    Our Top NFT marketplace pick is Magic Eden! It is one of the biggest market capped NFT markets with the largest volume of buyers and sellers on the Solana blockchain! Here, you can produce, sell and buy NFTs. Furthermore, this marketplace uses its own Launchpad feature to provide goods and services that are designed to help artists and creators market their work. Creators can mint their collections without requiring advanced know-how knowledge. Moreover, creators can set their royalties and pay immediately after a transaction.

    • Supported Wallets: Phantom, Slope, Sollet, Solflare, Clover, Ledger, Solong, and MathWallet.
    • Marketplace Transaction Fee: 2%

    2) SolSea

    SolSea

    Launched around August 2021, our 2nd favorite Solana Marketplace SolSea aims to facilitate the creation of NFT projects for artists and creators. In detail, via Solsea, you are able to copyright your NFT collection! This Solana marketplace releases NFTs with different rarity ratings based on their built-in NFT minting system. Moreover, you’ll always stay up-to-date with all upcoming projects through SolSea’s Calendar. Finally, users have the option to purchase NFTs with various tokens.

    • Supported Wallets: Phantom, Sollet, Solflare, Slope, Torus, Coin98 and Ledger.
    • Marketplace Transaction Fee: 2%

    3) OpenSea

    OpenSea

    Without a doubt, OpenSea is the biggest NFT marketplace in NFT history. However, in the beginning, OpenSea was only known for Ethereum projects. In April 2022, when the marketplace started supporting Solana NFTs, this enhanced the popularity of many Solana projects! Not to mention that OpenSea dominantly reaps over 70 million visitors per month. Insane! 

    • Supported Wallets: Phantom and Glow.
    • Marketplace Transaction Fee: 2.5%

    4) Solanart

    Solanart

    Solanart is one of the most well-known Solana NFT marketplaces where anyone can create, sell and buy Solana-based NFT. If you’re looking for the most hyped and sought-after art, this is your guy! In addition, It is very easy to navigate. In its early days, getting listed on it was a big flex, because Solanart focused on just blue-chip releases and high-value artists.  

    • Supported Wallets: Phantom, Slope, Solflare, Clover, Torus, Ledger, Sollet and MathWallet.
    • Marketplace Transaction Fee: 3%

    5) Metaplex

    Metaplex

    Metaplex is a unique marketplace. Think of it as you would Shopify, but for NFTs. Seriously! Metaplex makes it possible for users to create storefronts. Consequently, the platform aims to create a community of artists who work together instead of against each other. Moreover, it offers tools for creating and launching NFTs.

    • Supported Wallets: Phantom
    • Marketplace Transaction Fee: 0%

    6) Exchange.Art

    Exchange Art

    Exchange.Art is a great Solana Marketplace for virtually everyone! The user interface is pretty easy to navigate, and it offers a wide spectrum of hand-selected art collections. Moreover, new artists can easily join its platform and display their NFTs.

    • Supported Wallets: Phantom, Solflare, Slope, Torus, Ledger, Blocto and Sollet.
    • Marketplace Transaction Fee: 2.5%

    7) Solport

    Solport

    Solport is one of the Solana NFT marketplaces that offer a great community! Check out their marketplace activities via Discord! While it doesn’t have a lot of collections, it features some high-profile blue chip ones.  Solport utilizes a special filter feature for the collectors to easily categorize their desired targets. And you can list your NFTs for instant purchase or auctions.

    • Supported Wallets: Phantom and Solflare.
    • Marketplace Transaction Fee: 2%

    8) Digital Eyes

    Digital Eyes

    Next up, Digital Eyes is one of the first open Solana NFT marketplaces way before Magic Eden rose to become the dominant marketplace. Here, you must apply for permission and gain approval prior to using the platform.  Digital eyes has a seamless user interface and follows a neat minting calendar. 

    • Supported Wallets: Phantom, Sollet, Solflare, Solong, Slope, Clover and Mathwallet.
    • Marketplace Transaction Fee: 2.5%

    9) GOAT Swap

    Goat Swap

    In addition, we have the G.o.a.t! Goat Swap pride themselves in being the ‘most decentralized and permissionless’ platform. Here, you can set the prices and trading fees for your NFTs, and create trading pools! It’s worth mentioning that the SOL pool is the most popular for exchanging assets. Their aim is to empower creators and artists everywhere. 

    • Supported Wallets: Phantom
    • Marketplace Transaction Fee: 1%

    10) Alpha Art

    Alpha Art

    Lastly, Alpha Art marketplace allows users to buy/sell Solana-based NFTs without any listing fees. Moreover, it is the first and only marketplace on the Solana network where you can send an offer to any NFT on the marketplace whether it’s listed or not.

    • Supported Wallets: Phantom, Solflare, Sollet and Ledger.
    • Marketplace Transaction Fee: 2%

    Conclusion

    Unquestionably, the Sol ecosystem houses an overwhelming amount of promising Solana marketplaces. But evidently, this is why it is defined as one of the fastest-growing in our history. Stay tuned for more guides and run-downs!

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