According to screenshots shared by crypto-blogger Jane Manchun Wong, the largest NFT marketplace, OpenSea, is possibly adding Solana network functionality.
Potential takeover by Solana
The hidden wallet connect functionality that will allow users to connect to the platform with Phantom was most likely discovered by reverse engineering of the platform, which allowed Wong to find the new network’s integration on OpenSea.
While OpenSea has neither acknowledged or denied support for Solana, the platform’s official Twitter account commented on Wong’s article. That’s, tagging the writer and Phantom wallet’s official account.
Non-fungible tokens are mostly in sale and brings on the marketplace using Ethereum. However, since the industry’s popularity peak in September 2021. Also, Ethereum’s popularity as the major NFT network has decreased dramatically due to increased network congestion and increased costs.
For the great majority of NFT-related projects, such as GameFi, Metaverses, and regular collections, Solana became the primary alternative. Solana’s key “selling feature” is still its low fees and quick transaction processing.
Despite the fact that the Solana network can process more transactions per second on paper, as previously reported by U.Today, the network had been having processing and uptime challenges in the first few weeks of the new year.
In terms of OpenSea and the NFT business in general, the market got a second wind at the start of the year, with trading volume on OpenSea reaching $3.8 billion in January, surpassing the previous high of $3.4 billion set in September. Despite the worldwide cryptocurrency market sell-off, everyday volume on the market remains high.
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