In the world of crypto, Bitcoin enjoyed its initial fame. Then, came the era of NFTs. Currently, all the major transactions in the crypto community are based on NFTs. Otherwise known as Non-Fungible Tokens, NFTs have revolutionized the era of assets; digital art or any other asset. To buy or sell an NFT, you need to connect your digital wallet with a marketplace. Let us talk today about one such marketplace that deals with Solana NFT.
Apart from Kan’s Fractal, Michael Jordan and his son have also announced an NFT platform based on Solana. Reportedly, they are calling it ‘Heir,’ and it will connect users with popular athletes. However, these marketplaces are newly announced for the Solana NFT platform.
For today, we will be focusing on the biggest Solana NFT market; Solanart. If you have read our guide on different marketplaces or the one on the OpenSea market, you would be well aware of the working of an NFT marketplace. But if you haven’t, you are recommended to read those first.
Nevertheless, Solanart is a Solana-based marketplace that allows artists to list their art and buyers to buy that art.
Currently, the Solana network has a request limitation. To improvise around this little hurdle, Solanart uses both off-chain and on-chain data. For instance, when a seller lists a Non-Fungible Token for sale, it is stored in a database. However, the transaction occurs on the decentralized blockchain network.
The NFTs you see on the main page use the off-chain database. On the other hand, your wallet keeps the on-chain NFTs secure. The main page is designed on the database to work around the request limitation. And to provide a fast method for browsing and filtering through thousands of digital asset tokens.
Again, read our guide on buying NFTs to get a better understanding. Nonetheless, we will try to cover the topic again for newcomers.
Firstly, you need to have a crypto or digital wallet whenever you go to an NFT marketplace. This Solana NFT market recommends Phantom or Sollet. Each blockchain or marketplace has a few wallets that work best with it, so it would be better to adhere to them.
Secondly, download the browser plugin of the wallet. This step will be necessary to easily buy crypto and then use it on the marketplace. After downloading the plugin, you can easily buy SOL. When you buy Non-Fungible Tokens on the Ethereum Blockchain, the most common coin you use is ETH. However, you will require SOL on Solana.
Next, buy SOL from an exchange. Solanart recommends FTX, but you can also use Coinbase or Binance to buy SOL. After buying crypto, you need to send it to the public address of your wallet.
Lastly, connect the wallet with the Solanart website. When you open the site, you need to click on ‘Connect Wallet’.
Now that you know how to buy a unique NFT collection or project on the Solanart website, let us see the minting process as well. Unlike OpenSea’s newly launched free minting process, you need to fill a form on Solanart.
Once you fill the form, the Solanart website will review it and see if you fit their requirements. It would be easy for you to enter if you are an established creator or artist. If you get verified, you can mint your own Solana NFT. After getting verified, the platform will provide you with tools to convert your digital file or images into an NFT. So make sure you invest your time correctly.
However, like Ethereum, you have to pay a price for the transactions, called gas fees. Whenever you sell your images or any other type of art, you will have to pay a price, which is 3% of the selling price. On the other hand, you can set any price you want when listing an NFT for sale.
To sum it all up, Solanart is a Solana NFT marketplace that provides a simple interface for buying selling unique NFT collections and projects. After the recent launch of the game NFT marketplace on Solana, this network is going to see a boom in near future. If you are thinking of getting a Solana-based NFT collection, this is probably the best time. However, if you want to learn more about the crypto and unique tokens market, we are here for you.