Since the beginnings of cryptocurrencies and blockchain technology, one of the most unexpected developments has been the advent of non-fungible tokens (NFTs). Today, people are jumping at any opportunity to cash in on this expanding sector by creating, buying, and flipping NFTs, with Solana NFT marketplaces being among the most popular platforms for doing so.

Solana has become one of the most commonly used and widely beloved blockchains in the crypto space. Many refer to Solana as the Ethereum of the people, with its low gas fees, low price, and diverse functionality, including NFTs.

NFTs are present on the blockchain, under the total control of their owners, and have a number of immensely useful applications beyond just art. People, however, depend on markets to make purchasing and selling simpler. The marketplaces act as a connecting agent between buyers and sellers by hosting collections.

We have compiled a list of the best lesser-known but noteworthy Solana NFT marketplaces on the web today.

This list will exclude the biggest players on the market, such as Magic Eden and Open Sea, since they don’t need any more publicity. Some marketplaces specialize in certain types of NFTs, while others are all-rounders competing for the title of top-dog in the Solana ecosystem. In a rapidly evolving industry such as this, who knows where any of these Solana marketplaces will end up. One thing is for sure, competition is fierce, and where there is competition, innovations follow.

List of the Top Solana NFT Marketplaces

1. Solsea
2. Solanart
3. Metaplex
4. DigitalEyes
5. Exchange.Art

Solanart 

One well-known Solana NFT marketplace is Solanart, where anybody may create, market, and buy Solana NFTs. For each successful NFT sale, Solanart levies a 3 percent transaction fee, along with whatever royalty fees the artist decides to assign to resales.

On the other side, the creator is allowed to set the price for their NFT art piece or collection. Popular NFT collections from Solanart include Aurora, Galactic Gecko Space Garage, Degenerate Ape Academy, and Solpunks.

Soalanart supports a number of crypto wallets which include Phantom, Clover, Slope, Ledger, Solflare, MathWallet, and Sollet. Solanart is the main NFT market for Solana, and they are committed to helping artists and producers advertise their products and giving them access to a trustworthy market where they can display their work without having to worry about security or plagiarism.

SolSea

The first Solana NFT marketplace, Solsea, assists artists in creating and purchasing NFTs. Additionally, NFTs with rarity rankings and SPL token compatibility has been made available by Solsea.

Using Solsea’s calendar feature, you’ll never forget about a project’s impending releases. Markets at the base, all. Among the NFTs in Solsea’s collection are ART Circle and Meta Waifus. The first Virtual NFT Art Fair of its type, Solsea’s First 100, showcases early adopters and innovators.

Due to its integrated NFT minting system with embedded licensing, Solsea is able to estimate Rarity Rank for NFT collections. This NFT market assists with FXT-pay and Moonpay pocket financing and is constantly updated with new options.

Similar to the other two NFT markets, Solsea charges a 3 percent transaction fee and pays creator royalties promptly.

Metaplex

Metaplex is among the top Solana NFT marketplaces because it puts more control in the hands of the artist. Rather than having to list your art on an open market, where it will face comparison and competition by their projects, Metaplex allows creators to own their own Storefronts.

Among the popular Solana-based NFT projects that have been launched on Metaplex are Solana Monkey Business, Degen Ape Academy, Genopets, Nyan Heroes, and Oddkey.

DigitalEyes

Additionally, a transaction fee of 2.50 percent is levied by DigitalEyes on each successful NFT transaction, and the purchaser of an NFT has additionally assessed two additional fees: a royalty set by the artist and a service charge. The following wallets are supported by DigitalEyes: MathWallet, Phantom, Sollet, Solflare, Solong, and Sollet.

Users can also choose the Verified option on the DigitalEyes marketplace. Digital Eyes must receive these NFTs, collections, and products with pertinent information. The platform identifies them as authentic digital assets or collections as a consequence.

Aurory, Galactic Gecko Space Garage, Degenerate Ape Academy, and Frakt are the top-ranked and best NFT according to Digital Eyes, although you can view the upcoming NFT drops and launches yourself using the Mint Calendar, a handy feature for any NFT investor looking to catch the drop.

Exchange.Art

The Solana NFT Marketplace is a warm location with independent artists with an emphasis on original work for everyone. The Exchange. Art marketplace, on the other hand, features hand-selected art collection sets, illustrations, drawings, photographs, paintings, algorithmic arts, profile images, AI arts, 3D arts, and banners.

There is no cost to post your goods on Exchange. Art. Each transaction that is completed successfully incurs a cost of 2.5 percent. The Solana Network fee is your responsibility and is not covered by the purchase price.

Using the Exchange Creators Portal, a fully integrated platform, artists and creators can easily upload and manage collections for their whole business. Phantom, Solflare, Slope, Torus, Ledger, Blocto, and Sollet are some of the wallets supported on the marketplace.

Solana NFT marketplaces created on such a network show how the Solana ecosystem has developed over time. Solana may very well grow and develop more until it surpasses Ethereum in size. If you are considering launching an NFT project of your own, now is as good a time as any. Though the bear market may seem like a setback, and the downfall of NFTs seemed inevitable, there is never a bad time to consider investing, and the NFT market is as active as ever.

If you are new to the NFT space, there are a number of things you would need to research before diving in and a number of precautions to take to avoid NFT rug-pull scams and come out making a profit. There is no shortage of kind souls out there in the ever-expanding community ready to help you at the drop of a hat should you ask for it.

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Play-to-earn (P2E) games are a new and young phenomenon in the gaming industry, but one that will not stop growing, as it mixes the two things that all people want in their lives; fun and money.  

Most play-to-earn games today reward the player with their in-game token, with its worth decided by the amount of liquidity, or money, in the token. That is why many use non-fungible tokens (NFT) sakes to initially bolster their token, dedicating a portion of their profits to propping it up until players start putting their money into it.   

After that, it’s up to the game developers to develop a well-balanced internal economy that both produces and burns tokens accordingly and provides a fun and compelling experience to keep players coming back for more than just money.  

Fun is still the most significant factor in gameplay. Yes, getting rewarded in cryptocurrency and NFTs is a tremendous additional incentive to play, but it does not excuse a terrible or boring game. Even if some people were so swayed by the promise of “free money” that they do play, they wouldn’t last long as part of your player base, and word of mouth is a powerful way to spread the word on your game. Fun and fair rewards are how you make that happen.   

But That is Where the Similarities End  

Most people who game, at least those above 18, are not hoping to make a career out of play-to-earn games. At least not realistically. Income at the level of the player in the game is nowhere near as high as what would be required for a full-time job. This doesn’t make sense under the current P2E model. Paid incentives are more of a nice little bonus where players either break even with their investments or even get a fantastic bonus, and so the fun will still be the main factor behind a game’s success.   

Having said that, a game that rewards you for playing, assuming it is as fun as its non-blockchain counterparts, will probably rein superior in most players’ minds. 

In third-world countries, where the American dollar is valued at a higher rate compared to the local currency, many have been using play-to-earn games like Axie Infinity to earn what amounts to a decent income. 

The founder of Reddit, Alexis Ohanian, predicts that 90 percent of the gaming market will be Play-to-Earn games within the next five years.  

“90 percent of people will not play a video game unless they are being properly valued for that time,” Ohanian said.  

“In five years, you will actually value your time properly, and instead of being harvested for advertisements or being fleeced for dollars to buy stupid hammers you don’t actually own, you will be playing some on-chain equivalent game that will be just as fun, but you’ll actually earn value, and you will be the harvester.”  

As time progresses, new methods of generating income will no doubt crop up. From adopting a big company’s brand, renting out land, selling digital products, or performing digital services, it will all come with the advent of the Metaverse, whatever form it takes.   

Right now, it is still a very young concept, but one that is naturally gaining traction with an audience that once spent their income on gaming, now able to invest it and their time. 

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When talking about Non-Fungible Tokens – NFTs – many imagine ugly pieces of art sold for millions of real-world dollars. The disruptive and transformative potential uses for NFTs goes far beyond a picture of a Greedy Goat or a Perky Penguin with the promise of riches, passive income, or what have you. What an NFT is fundamentally is a secure method of verification, and that small fact alone makes them game-changers across many industries and everyday life.

NFTs are cryptographic tokens that use blockchain technology to verify their ownership and cannot be replicated. They are used to represent digital and real-world items such as artwork and real estate, allowing these assets to be traded with a slight possibility of fraud. 

Despite the crypto market crash and the NFT market slump that came with it, we are still seeing NFTs make huge strides in the public eye. Let’s take a look at the most common uses for NFTs today and what those applications might look like in the future:

Uses for NFTs in Art

Let’s get the obvious one aside. While most NFTs aren’t known for looking ‘good,’ at least in the traditional sense, they are an excellent way for artists to make a living off of their art and gather a loyal fanbase while they do it. Having the addition of a smart contract attached to a piece of art is an excellent way to add some functionality to an otherwise purely aesthetic. Earning money from initial sales and all royalties that follow from future sales is any artist’s dream come true. 

Of course, they will have to maintain the value of their art through community building, social media, and continued growth to maintain its perceived value, so it’s not exactly what you would call a ‘passive income,’ but then again, what is. 

Even as NFT projects continue to see adoption and traction in 2022, the landscape will inevitably keep changing.

Tokenization of Real-World Items

One of the most common uses of NFTs is as digital representations of real-world items, and in an increasingly digitized world, such a technology is the logical next step. From real-estate listings to musical albums and smart contracts that help manage real world 

The use of NFTs would allow a scalable use of trustless secondary marketplaces across many service industries. 

Digital Identities, Credentials, and Medical Records

Decentralized Identifiers, or DIDs, are some of the most common uses of NFTs. People, organizations, and any other entities can solidify their identities and avoid fraud through their Web 3 dealings through the use of NFTs.  

Digital identifications are at the heart of the future internet, and blockchain-enabled NFTs are the best way to do it. Imagine being able to pay tax, order goods, renew your license and handle subscriptions, and much more, all with one unhackable verification method.

Your medical health life will also be made easier by the advent of NFTs. Doctors can now issue NFT birth certificates upon birth, and that NFT would represent the lifelong identity that they can use for all their medical records. Medical professionals can then access this information whenever needed, such as when retrieving blood type and 

Academia can be among the best uses of NFTs in the real world, with the same applications as medical records, except it would be used during job applications, certification, and proof of attendance in college or school.

A New Dimension for Gaming

Perhaps the most practical use for today’s NFT scene, which is still in its infancy, digital collectibles such as those in “Play-to-Earn Games” like Axie Infinity, are a common use case. NFTs are a perfect fit for the gaming industry. 

With the digital identification model, players can use NFTs to verify their earnings and secure their winnings in video games. 

Since NFT objects in games can have varying degrees of rarity, NFTs make trading in games simpler, which can also raise the value. Due to the absence of an intermediary and the instantaneous nature of blockchain transactions, NFT owners won’t need to worry about frauds and scams. This creates more opportunities than ever before, including the ability to buy weapons or other equipment that has already been tried out by actual users and for both buyers and sellers to benefit.

Enabling cross-platform compatibility for NFT Game players are more motivated to continue playing a game if they already own characters or objects inside it, thanks to NFTs, which provide game devs with another chance to grow their brand and generate income.

Uses for NFTs Supply Chains

Many goods and items, particularly those in the food sector, have a problem when it comes to verifying their provenance, the contents within the packaging, and the source of supply. NFTs may be tied to a product via the blockchain, giving it a tamper-proof NFT identity.

Businesses can also find many convenient uses for NFTs for tracking their items from production through shipment and delivery way down the pipeline. Customers can then see what they are paying for, and the supply chain of a business is kept transparent.

In Conclusion

New and exciting creations such as NFTs are still young and volatile technologies, and no doubt, tremendous and turbulent changes are coming down the road. Once something is created. However, it cannot be uncreated or forgotten. NFTs have seen such a significant adoption in such a short time that we can rest assured they are not going anywhere.

We will continue to see more uses for NFTs expand and evolve to reach the lives of everyday individuals going about their business. NFTs holds the potential to make various services easier to use, and make more transactions transparent, especially when it comes to tangible ownership of the real estate, artwork, ideas, concepts, and the like.

More advancement in this area is expected in the upcoming years at a rate that will transform everyday life for the common person.

Inside Telecom provides you with an extensive list of content covering all aspects of the tech industry. Keep an eye on our Technology, Metaverse, and Blockchain sections to stay informed and up-to-date with our daily articles.