Monday, February 26, 2024

Solana NFTs Are Coming To Rarible After OpenSea Debut

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Solana NFTs are coming to Rarible after the OpenSea debut as it expanded its multi-chain approach further while also launching a custom marketplace for the Degenerate Ape Academy NFT project so let’s read more today in our latest blockchain news.

Rarible Protocol integrated Solana NFTs that will soon start appearing on the marketplace and it even launched a custom marketplace for the popular NFT proejct Degenerate Ape academy. The Solana NFTs are coming to Rarible after launching on Opensea previously as the most popular NFT market out there. Now the rival Rarible announced that its planned integration of the Solana NFT is live.

Today, the open-source multi-chain Rarible Protocol confirmed that it added support for NFTs minted on the Solana blockcahin and that the Solana NFTs will start appearing on the marketplace in the next few weeks. Because Rarible is a protocol rather than a marketplace, it can be tapped by other projects and creators to develop their own custom platform. Solana joined a list of supported blockchains like Flow, Tezos, Ethereum, and Polygon. The Rarible RARI token is used for governance across the multi-chain ecosystem and alongside the announcement, Rarible also announced the creation of a custom marketplace for the popular NFT project Degenerate Ape Academy.

The platform uses Rarible Protocol’s white-label marketplace tech and will support DAA and its related NFT projects but the custom marketplace will see a chunk of its sales go to the Degen DAOO. Rarible’s addition of Solana is nto a surprise as the CEO Alexei Fallin said that the blockchain was on the protocol’s roadmap and it developed an integration internally. At that time, TEzos’ support was about to launch and the Polygon support launched at the start of March.

NFT-Backed Loans, cryptopunks, sotheby's,

NFTs work like blockcahin-backed receipts for digital items and more and the marekt even generated $25 billion in tradign volume last year with ETH and the sidechains leading the way. Solana is the second biggest NFT ecosystem and gained steam in the second half of the year on the back of the Degenerate Ape academy, Aurory, and Solana Monkey Business. Other notable projects include DeGods, Magic Eden, and Portals. Solana’s addition to OpenSea was expected to be a huge boost to the marekt which is still smaller than the one of Ethereum.

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