Review the Best Solana NFT Marketplace Options

Here, we rank the top 5 Solana NFT marketplace options based on their unique specs. Find out the pros and cons of each of them below!

Ethereum has shaped and dominated the non-fungible token (NFT) market for years. It is considered a pioneering blockchain for these digital assets. But lately, its dominance is shrinking with the availability of more efficient blockchains.

Solana now has become an increasingly popular alternative to Ethereum. It is much faster and requires low transaction fees. That’s why many NFT marketplaces have already emerged for Solana NFTs. Besides, these marketplaces are even overtaking Ethereum in NFT trading.

If you're looking to explore Ethereum alternatives for minting NFTs, you can review the best Solana NFT marketplace options here.

What Distinguishes Solana from Ethereum?

Before we review the best NFT marketplaces based on the Solana blockchain, we must understand how Solana differs from Ethereum. Here’re the key differences:

1. Solana can handle 65,000+ transactions in a second, much faster than Ethereum’s limit of 30 transactions per second.

2. Solana blockchain offers much lower transaction fees in comparison to Ethereum.

3. Unlike Ethereum’s Proof-of-Work (PoW), Solana operates with a mix of both; Proof-of-History (PoH) and Proof-of-Stake (PoS) mechanisms. This makes the systems energy-efficient and less harmful to the environment.

Five best Solana NFT marketplace

Across the wide range of NFT marketplaces, you can review the best NFT marketplaces based on the Solana blockchain here!

1) Magic Eden

Magic Eden is one of the most well-reputed Solana NFT marketplaces. It allows the trading of Solana NFTs with a low transaction fee of only 2%. It also ensures an efficient transaction process. Besides, if you make a sale on Magic Eden, you can instantly set out your royalties.

Currently, Magic Eden is only approving limited projects to maintain quality. It’s quite an intuitive platform that works with every Solana wallet. The platform also runs a unique collection called Magic Ticket for showcasing its digital assets. Also, it has a separate NFT gaming section, where you can create different in-game objects.

Pros

• Low transaction fee

• Compatibility with nearly all Solana wallets

• Gaming section

Cons

• Approves lesser number of projects

2) DigitalEyes

The first NFT marketplace for trading Solana NFTs is DigitalEyes and comes second on our Solana NFT marketplace rankings. It is another popular platform where you can trade your SOL-based NFTs with ease. The platform offers various NFT collections, and if you become the first buyer of any NFT, you can earn profit through its resale. Moreover, the platform has a mint calendar that gives you updates for the coming NFTs. It creates anticipation for the projects and allows buyers to learn about the upcoming NFTs. However, DigitalEyes charges you a slightly higher transaction fee of 2.5%. An additional fee is payable for royalty on this platform.

Pros

• Variety of NFT collections

• Supports numerous Solana wallets

• Easy-to-navigate

Cons

• Slightly higher transaction fee (2.5%)

• Extra fee for royalty

3) Metaplex

Metaplex can be a good option if you don’t want to list your SOL NFTs on competitive marketplaces. This platform allows you to design your own storefront to market your NFTs. Because of that, you don’t have to follow the set criteria of a platform and enjoy the freedom to showcase your collection as you like.

In addition, you can trade NFTs on this platform via this decentralised platform. Your marketing fee will also reduce as you trade more NFTs. Unlike most marketplaces, Metaplex provides numerous incentives to NFT creators. This is why it has become an affordable option for marketing your collection.

Pros

• Allows separate and creative storefronts

• Give incentives to NFT creators

• Secure transactions

• Affordable marketing cost

Cons

• Supports fewer wallets

4) Solanart

Among the best marketplaces based on Solana, Solanart is another popular name. It is the biggest Solana NFT marketplace in terms of the collections it offers. The platform features an array of diverse Solana NFT projects. Among them, the notable ones are Aurora and Degenerate Ape Academy.

Other than the collections, Solanart also ensures efficient transactions. Besides, you can integrate any of the Solana wallets with this platform. However, Solanart has one disadvantage: the high transaction fee. It charges you around 3% on each NFT trade, which is higher than most other marketplaces. As an NFT creator, you’ll also have to bear the additional royalty charges.

Pros

• A diverse range of Solana NFT projects

• Smooth and secure transactions

• Integrates with most of the wallets

• Intuitive interface

Cons

• Charges 3% transaction fee

• An additional royalty fee for NFT creators

5) SolSea

SolSea is one of the most used Solana NFT marketplaces, as it supports both creators and buyers. The platform features many creative NFT projects that have earned great recognition. Moreover, SolSea features NFTs that support SPL (Solana Program Library) tokens and provide rarity rankings, too.

It is easy to navigate and allows the effortless integration of artwork licences to your NFT collections. It also offers numerous handy features like the SolSea calendar that reminds you of the upcoming NFTs, and for managing finances, there is MoonPay and FXT-pay.

However, SolSea is quite expensive in terms of the transaction fee. It charges 3% on each transaction and an extra royalty fee from NFT creators. Nonetheless, the features it offers justify the high prices.

Pros

• Effortless licence integration

• Rarity rankings

• SPL compatible NFTs

• MoonPay and FXT-pay

• Reminders for upcoming NFTs

Cons

• 3% transaction fee

• Royalty fee

Final Thoughts

The NFT market has been shaped and ruled by Ethereum since the beginning. Though it still holds a large market share, few other blockchain-based marketplaces are also emerging. Among them, Solana is the leading blockchain as it offers faster transactions with lower fees and has energy-efficient systems.

In this article, we reviewed the best NFT marketplaces based on Solana. According to our rankings, Solana NFT marketplace Magic Eden can be the ideal choice for you. It charges much less for transactions and can be integrated with many Solana wallets. Moreover, DigitalEyes, Metaplex, Solanart, and SolSea are also worth exploring marketplaces, as they make up our list of the top 5 Solana NFT marketplaces till today!