Launched in 2021, [Phantom wallet](https://phantom.app/) is a non-custodial crypto wallet built for the Solana blockchain. It is used to interact with Solana-based tokens, smart contracts, NFTs, and decentralized applications (DApps). It is available as a browser extension and mobile app.

It can be accessed using major browser extensions such as Chrome, Firefox, Brave, and Edge. As a mobile app, it is compatible with iOS devices as well as Android.

## Key features

Phantom wallet stands out with its many features. They include;

i.	Simple user interface: Its simple user interface makes it beginner friendly. Anyone can use it to interact with the SOL blockchain. All service options are available on the first page.

ii.	Non-custodial: Users have complete control of their private keys, which give access to their funds. It has no access to users’ data or funds.

iii.	Supports Ledger: It can be connected to Ledger, a leading and highly secure hardware wallet for extra security.

iv.	Built-in exchange: It features a built-in decentralized exchange that allows users to swap SOL-based tokens within it.

v.	NFT compatible: It supports NFT collectibles from the SOL blockchain. It has a feature that automatically groups similar NFTs for easy accessibility. However, it only supports Solana NFTs.

vi.	[Crypto staking](/news/article/what-is-staking-crypto) capabilities: It allows users to stake SOL and receive rewards. Crypto staking is a good way to earn passive income from cryptocurrencies.

vii.	Great security: A strong password is the first line of defense. It is required to protect funds from thieves and hackers. It also features a recovery key phrase to restore access to it. Biometric authentication is another security feature offered to those using its mobile app version. The feature enhances its security even when accessing it on the go.

viii.	Privacy: It prioritizes privacy. Users don't have to provide any personal information to create it. They only need to create a password to start using it. It also does not track any personally identifiable information, users' account addresses, or asset balances.

## Pros and cons

There are many reasons to use Phantom wallet to interact with the SOL blockchain. Some of its advantages include;

### Pros

•	It is easy to use, therefore beginner friendly.

•	It is non-custodial, therefore, does not have control over users' funds.

•	It features a built-in swap and is compatible with NFTs.

•	It supports Ledger (a hardware wallet) for increased security.

•	It prioritizes privacy and features great security.

### Cons

•	It does not support any other network.

## Conclusion

Phantom is a great wallet. It is especially perfect for newbies venturing into the crypto space through Solana, one of the most active and fastest-growing ecosystems in the crypto space.

It is easy to use, feature-rich, and highly secure. It easily gives access to all Solana services. It can be accessed as a web extension and mobile application. There is a lot to like about it.



Solana Phantom Wallet Guide

A platform for esports (sports video games) called Monkeyball combines the idea of NFTs with the concept of online multiplayer European football. Some have compared the Monkeyball platform to a cross between FIFA Street and World of Warcraft in terms of video games. This means users can set up/manage a fictitious team and compete against friends or use their skills in a larger online playing field where they can get paid.

The token used within the [Monkeyball](https://www.monkeyleague.io/) platform is the MBS Token, which you can identify on exchanges by the ticker $MBS. With a market cap of $14.76 million, it has a circulating supply of just over 92.2 million tokens (reports on this figure vary slightly).

The Monkeyball platform is created by the users who contribute MBS tokens, which are used to make real-world purchases of new tools, arenas, players, and skills. These tokens and purchasable items are the foundation of Monkeyball's online economy, allowing users to compete and engage in various play-to-earn activities.

After signing up, each Monkeyball user can assemble their 4-a-side (4 players on the pitch at once per team) squad of Monkey avatars. 

An avatar represents you in a video game world or one of several characters under your command. These avatars will play one of four positions on the virtual field: netkeeper, striker, defender, or midfielder. Games between opposing teams are played in stadiums, which are unique virtual locations owned by users and can be viewed by spectators. 

Spectators can access their Monkeyball account for free but cannot purchase or manage players or stadiums until they buy a certain amount of MBS tokens.

## Monkeyball is based on the Solana blockchain

The [Metaverse](/articles/learn-moni/top-metaverse-crypto-coins) Monkeyball gaming platform is built around  Monkeyball NFTs. Every unique location, character, or item is protected by NFT encryption, which is blockchain-based. Monkeyball NFTs rely on the [Solana](/news/article/solana-nfts) network, a rising star in the cryptocurrency world, to secure transactional activity on their platform while improving overall speed and usability. 

[Solana blockchain](https://news.monitalks.io/news/article/solana-price-gbp) has become a popular hosting platform for multiple different NFT platforms because of its ease of operation and relatively high level of interoperability.

## Token MBS explained

MBS tokens are available on the Monkeyball platform and can be purchased with either fiat or digital currency (depending on where you bought your $MBS). Monkeyball stated that its platform would be fully functional on desktop and mobile devices. 

MBS token is a speculative currency that can be traded between users on various crypto exchanges, but its main appeal is its in-game practical application. Because MBS tokens can be used as currency on the Monkeyball platform, users can effectively contribute to and manage an artificial economy in a virtual world. 

When a client buys a unique in-game entity or commodity, it becomes theirs. It is no longer available for purchase by any other player unless the original client wishes to sell, usually for a profit. This is made possible by blockchain encryption, as the ledger stores all ownership information. Every in-game commodity or entity is an NFT and is subject to all of the standard NFT rules.

## Review of Monkeyball NFT: Is it worth the hype?

The Monkeyball NFT is a worthy asset. Customers can now purchase NFTs of the stadiums where their preferred teams play, further enhancing their experience. A portion of the prize money is distributed to the winning team's stadium owners, players, and supporters following each game. This game rewards everyone, unlike your typical match, where only the players receive rewards.

If you let others play in your stadium, even if they aren't your players, you can reward yourself! It's also possible to win prizes simply for attending a game and rooting for your preferred team! MonkeyBall aims to enthuse people about sports by enabling them to simulate being there in person. All players will receive the game's native currency, MonkeyBucks (MBS).



Monkeyball NFT: A comprehensive guide

Blockasset is an NFT platform and marketplace that seeks to bridge the gap between athletes and their fans. Launched in July 2021 and built on the Solana blockchain, Blockasset offers fans a place to access exclusive athlete-verified NFTs, among other services.

## How it works

[Blockasset](https://www.blockasset.co/) works by connecting verified athletes with their fans. Fans get to buy verified NFTs directly from their favourite athletes. They also interact with the athletes and see their careers blossom through their listed NFTs.

The platform, unlike others, features a tier system that helps with how fans interact with athletes and its content. The three tiers include the following;

•	Legends: They include fully authenticated NFTs produced and backed by some of the greatest sports personalities of all time, including Mohammed Ali, Wayne Rooney, and Mike Bisping. 

•	Moments: these non-fungible tokens represent a unique highlight moment in an athlete’s career. 

•	Gaming: These NFTs power several Play-to-Earn (P2E) sports games.

Legends are the first NFT collection to drop on the marketplace. They have some unique perks, which include giving their holders access to the Legends Club on Discord with exclusive athlete AMAs.

Other perks include regular rewards like signed memorabilia, meet and greets with athletes, and sporting trips worldwide.

## Native Token

Blockasset has a native utility token called $BLOCK. The token has a variety of use cases. They can be used for staking to earn rewards, airdrops, marketplace discounts, and in Blockasset’s games. 

$BLOCK holders can also use them to boost their NFT listings, win a VIP experience with athletes, reduce fees on NFT purchases, and get early access to live events. The tokens have a max supply cap of 200 million.
The platform has another token called nBLOCK, used for listing and purchasing exclusive NFTs. The token is also used for governance.

## Why Build on Solana

[Solana](/news/article/solana-price-gbp) stands out with its low fees, high throughput, and low latency. The blockchain can process over 50,000 transactions per second with close to zero fees. It also leverages the language Rust, which solves memory safety issues and thread concurrency. 

Solana’s advantages are why Blockasset was built on it. The marketplace hopes to use these advantages to provide an unmatched user experience and attract users.

## Conclusion

Blockasset is an ambitious project that looks beyond providing an athlete-focused NFT marketplace. The platform is already working on a Play-to-Earn, five-a-side soccer simulation game that will feature, among other things, online and single-player modes and player-owned assets.

Its road map reveals fantastic things are on the way, making it a project worth checking out. It already has thousands of followers on Twitter, Instagram, Reddit, and Telegram.
 



Block asset: An athlete NFT platform built on Solana

[Solanart](https://solanart.io/), an NFT marketplace hosted on the [Solana blockchain](/news/article/solana-nft-marketplace), was launched in 2021. The marketplace includes various NFTs created by users, organisations, and celebrities.

The platform maintains its inventory of NFTs available for purchase in an offline database, in contrast to other NFT marketplaces. This helps to secure a large number of NFTs for sale on the platform.

[DappRadar's marketplace statistics](https://dappradar.com/solana/marketplaces/solanart) show that the platform has had over 238k traders and an overall sales volume of over $660 million.

The platform charges zero fees to buy and sell NFTs, which adds to its growing popularity.

## Compatible wallets with Solanart

Solanart is currently only compatible with the Sollet wallet, the Sollet Chrome extension, and Phantom, though it is very likely that other wallets will be supported in the future.

If you have one of these two wallets, connect at the top right, confirm in your wallet, and you can begin buying and selling NFTs and viewing your wallet collection.

## How to buy and sell NFTs on Solanart?

To purchase an NFT, you must first link the [wallet](/news/article/best-ethereum-wallet) to solanart. With the wallet connected, click on the one you are interested in buying. You can then find information such as the address of the NFT owner, and you can view all of the information in the [Solana](/news/article/upcoming-solana-nft-projects) explorer by clicking on the view token.

Finally, if you click, you can see who the last buyer was and when they bought it. To purchase, click on buy and confirm it. Once the transaction is complete, you will see your new NFT in your wallet. And from there, you can list it for sale, which will appear in the My NFT For Sale section.

To sell the NFT you have purchased, click the "Connect Wallet" button in the top right corner. When you click on the "Wallet" tab, you should see the NFTs you can sell.

Click "Sell" and add a description of a maximum of 50 characters. Enter the SOL price at which you want to sell it.

Click "SELL", confirm the transaction in the wallet's pop-up window, and wait a few seconds for the transaction to complete. This way, you'll be able to sell your NFT.

## Solanart market commissions 

The platform charges a 3% market commission on the selling price of each transaction. Additionally, a creator's fee is added to the sale price and is fully paid to the artist. This fee varies depending on the collection. 

There is a 0.02% advertising fee to prevent excessive advertising. Before putting your NFT up for sale, ensure you have enough SOL to pay the listing and transaction fees.

## Bottom line

The top characteristics that set Solanart apart from the rest of the NFT marketplace competition include low transaction charges, a speedy platform, a rapidly expanding collection of NFTs, strict standards, active assistance, and, of course, being powered by the Solana network. These characteristics undoubtedly give NFT creators, buyers, and sellers a competitive edge in their business of digital trading assets. 



Solanart: NFT marketplace explained

Launched on September 17th, 2021, Magic Eden is the largest and most popular NFT marketplace on the Solana blockchain. Its pros are its low transaction costs and no fees for listing NFTs. It also stands out with its usability, community-focused features, and diversity of projects.

In June 2022, the project made headlines when it raised $130 million in a Series B funding round, bringing its valuation to $1.6 billion. The funding round was co-led by Electric Capital and Greylock and included investors like LightSpeed Venture Partners, Paradigm, and Sequoia Capital.

Three months prior, it had raised $27 million in its Series A funding round led by Paradigm, Sequoia, and Solana Ventures.
Its $1.6 billion valuation put it on par with the Series B of OpenSea, another popular and leading NFT marketplace on the Ethereum blockchain.

According to a press release, the money raised will be allocated to expand its primary and secondary marketplaces, look into multichain opportunities, and improve its products, among other things. 

Since its launch, its primary marketplace, Launchpad, has launched over 250 projects, while its secondary marketplace has more than 7,000 listed collections. According to a statement from Solana, the platform’s secondary marketplace is responsible for 92% of NFT volume on Solana.

## Magic Eden expands to Ethereum

True to their word, in August 2022, Magic Eden began its move to Ethereum. It has supported several significant ETH NFT collections, including Bored Ape Yacht Club and Pudgy Penguins.

According to [its CEO and co-founder Jack Lu](https://decrypt.co/110185/magic-eden-ceo-very-natural-to-expand-from-solana-to-ethereum-nfts), going multichain had always been the plan. The company, however, decided to start with Solana because it looked like a frontier ecosystem at the time of its launch in 2021.

Lu admitted that there was worry among the platform’s team about how its SOL-centric audience would react to the announcement of its expansion to Ethereum.

When asked about the platform’s addition of the ETH protocol, Lu said, “For us to move from SOL to ETH, it was very natural.” 
[Ethereum](/coins/eth) is the largest ecosystem in terms of the overall trading volume. It holds most of the highest-value projects and has plenty of users, which are pluses for the marketplace. Lu also added that there is a lot to learn from the blockchain ecosystem.

According to Lu, expanding to Ethereum is only the beginning for Magic Eden. There are plans to expand to many more blockchains in the future.
 



Magic Eden NFT marketplace journey

There are several credible crypto projects if you're interested in learning more about cryptocurrency. These include Solana, Polkadot, and Mistertango, which shine as beacons of credibility in a shady market. Other examples include Coinbase and Discourse, both open-source discussion platforms for crypto projects.

## Solana, Polkadot, and Solana are credible cryptos

[Polkadot ](https://polkadot.network/) and Solana use different blockchain networks, but their main goal is similar: to provide high-speed transactions and low fees. Solana is designed to be compatible with other blockchains, while Polkadot aims to facilitate interoperability and secure data transfer between networks. These are all promising cryptos but have their fair share of challenges.

[Solana's network](https://solana.com/) has a few features that make it unique. Its network can process up to 65,000 transactions per second. Its transaction fee is 0.00000001, which is negligible compared to other cryptos. It also features a turbine protocol that helps deal with network bandwidth problems.

However, Solana has some problems that make it risky to invest in. One of its most significant vulnerabilities is that the network is monolithic, leading to a centralized structure. This can limit the number of validators and reduce the overall network security. Another problem is that just a few addresses hold a large portion of on-chain wealth. This can create governance problems, reduce the number of validators, and reduce overall network security.

## Mistertango is a shining light of credibility 

While cryptocurrency has become a hot topic for speculators and traders, it is not without its share of legitimate businesses. Many of these firms have been involved in scandals that have cast doubt on their reliability. One of these companies, Mistertango, is dedicated to building trust among traders and exchanges. 

As a result, it has developed a highly successful PR campaign that has contributed to a sharp rise in web traffic, inbound inquiries, and sales.

## Coinbase is a credible crypto exchange
[Coinbase is one of the most popular](/news/article/blackrock-crypto) and trusted exchanges today. This popular exchange is based in San Francisco and has a high level of regulatory oversight. It offers various products and services and is popular among hundreds of thousands of users. It is also one of the most highly reviewed cryptocurrency sites. While not regulated by the Securities and Exchange Commission, Coinbase does claim to use cold storage for customer assets and to halt suspicious transactions.

It is important to use a legitimate wallet when trading. This way, you won't lose your private keys to a third party or scammer. Coinbase requires that customers use two-factor authentication to secure their accounts. This includes using biometric fingerprints or AES 256 encryption on their private keys.

Coinbase has excellent security practices to protect user funds. It requires two-factor authentication to access your account and a 48-hour waiting period for withdrawals. It also offers whitelist withdrawal addresses.

It also uses industry-leading security measures. Although Coinbase is expensive, the security of your funds is a significant selling point. Unlike most other exchanges, Coinbase offers a higher level of security and is many institutions' preferred exchange and custodian.

## Discourse is an open-source discussion platform

Discourse is an open-source discussion platform that is used by many cryptocurrency projects. These projects use Discourse to discuss protocol design and governance issues. However, the forums can also be a source of scams, so cryptocurrency users must stay on guard. This platform allows users to follow their favourite projects and interact with them, but they should ensure that the information they get comes from reputable sources.

While the effect of Discourse on crypto prices is uncertain, it could play a role. It may be related to the source of news, which can influence prices. Further research may be needed to model crypto discourses and find the connections between the news source and its effects on prices.


What are the most credible crypto projects?

In recent days, Solana has seen a significant increase in its NFT ecosystem. What's noteworthy in this environment, despite showing signs of improvement, overall demand for NFTs remained weak in September.

Meanwhile, Solana NFT mints reached an all-time high [on September 7](https://beat.10ztalk.com/2022/09/13/nfts-minted-on-solana-reach-all-time-high/), surpassing 300,000 units. The network had only 77.79k mints at the beginning of the month and has seen a massive increase in such a short period.

However, [Solana](/news/article/solana-price-gbp) appears to differ from the recent downward market trend for cryptocurrencies. It's important to note that NFT sales on Solana managed to outpace those on Ethereum for 24 hours on May 24, making it the leading blockchain for that day. 

The introduction of the Trippin' Ape Tribe project, a collection that competed successfully against all NFT projects in the intervening hours between May 24 and 25, was the catalyst for this rise. The market sales of Solana NFTs totalled nearly $24.3 million at the time, while Ethereum sales totalled $24 million across all monitored markets. 

Returning to more recent news, the graphs depicting the number of NFTs minted on Solana on September 7 speak volumes. As stated above, 312,000 Non Fungible Tokens were minted in a single day. There has thus been a significant increase, given that the figure reached and recorded on September 4 was around 39,000.

Magic Eden, a Solana NFT marketplace, is undoubtedly a beneficiary of this rapid rise. Their NFT market share increased from 12% at the start of September to 36.6% on September 7.

## Solana NFT's notable success 

Despite unfavorable market conditions, NFTs sold on blockchain appear to finally achieve the success they deserve and have worked so hard for. 

The most popular NFT marketplaces' volumes have not recovered from a sharp decline earlier this year; however, this blockchain appears to be a minor but notable exception, surpassing its all-time high.


Solana NFT mints reached its all-time high

In the crypto space, there has been a lot of back and forth discussions on AVAX vs Solana. Both these blockchains have risen as Ethereum killers because of their high efficiency and minimal costs. But which one is the ideal choice? 

[Solana blockchain](/news/article/solana-price-gbp) has developed into a diverse ecosystem where you can mint NFTs, develop DApps and games, as well as generate a passive income. On the other hand, [Avalanche](https://www.avax.network/) is an innovative solution for Ethereum limitations that works as a subnet for developing DeFi projects. 

Suppose you are considering investing in SOL or AVAX. In that case, this article will help you decide which crypto has the higher potential. Let's dive in!

## Should I buy Solana or AVAX?

Before buying any crypto, most people make the mistake of only considering the token's price. However, to gauge the potential of any crypto, you have to consider several other factors. Here are a few of them!

## Consensus Mechanism

Avalanche (AVAX) and Solana (SOL) are layer 1 networks that follow the Proof-of-Stake (PoS) consensus mechanism. To add a block to this mechanism, you need to stake a certain amount of the network's token. On the Avalanche network, you need at least 2000 AVAXs to validate the smart contract. 

In comparison, Solana uses a hybrid version of PoS that also involves Proof-of-History (PoH) for transparency and efficiency. This allows it to have better throughput and low latency. Moreover, its validation nodes only require a fraction of SOLs, which keeps its cost to a minimum. 

## Blockchain trilemma 

Both claim to resolve the blockchain trilemma of decentralisation, security, and scalability. Avalanche uses PoS along with the Snowball technology to achieve decentralisation and speed. It has a multilayer structure involving X, C, and P chains, which allows scalability. And since its C-chain supports the Ethereum Virtual Machine (EVM), you can acquire the security of the Ethereum network.

Contrastively, SOL blockchain uses a mix of both PoS and PoH mechanisms. This helps in improving its security and making it decentralised. Moreover, it is stateless and uses eight different technologies, making it more customisable and scalable. However, it still faces issues like network outages and security. Moreover, Avalanche has a slight edge for decentralisation, as it has a Nakamoto coefficient of 26, whereas SOL has only 19. 

## AVAX vs Solana Tokenomics

Avalanche token has a total supply of 720 million tokens, and 220 million are currently in the market. Half of the supply is in the genesis block, while the other half will be minted over time. Comparatively, SOL's total supply is 511,616,946, out of which 348,706,462.29 are circulating. Moreover, Avalanche has a better Total Value Locked (TVL) in DeFi protocols of 11.21bn, whereas Sol's is around 6.88bn. 

In terms of price, [SOL (46.25)](https://coinmarketcap.com/currencies/solana/) is currently performing slightly better than [AVAX (29.50)](https://coinmarketcap.com/currencies/avalanche/). Solana's NFT marketplaces and DeFi projects make it a more valuable ecosystem than Avalanche, which is still evolving. 

## Efficiency and cost 

Avalanche can handle up to 20,000 transactions per second. In comparison, SOL has the potential to complete 65,000 transactions in the same period and has better throughput. Nonetheless, both options have a higher speed than Ethereum.  

In addition, SOL is also a better choice in terms of cost. The average transaction fee for SOL is only $0.00025, making it the most cost-effective ecosystem. However, AVAX is not too expensive and costs only $0.005 to $0.05. 
Bottom line

AVAX vs Solana: Which one is the best? Both cryptocurrencies are cost-effective, scalable, and efficient replacements for Ethereum. Yet, both have some favourable and unfavourable factors. 

AVAX is better than SOL in terms of decentralisation, security, and TVL. Whereas SOL transactions are faster and cheaper. It also has a growing community, NFT marketplace, and number of DApp projects, making it more performant than AVAX. 




AVAX vs Solana: Which crypto is the best buy?

What is Solana (SOL)? It is a protocol that enables the creation of blockchain applications with scalability. This means that developers can use it under their own brand to create applications. And due to its scalability, it can manage a large volume of transactions without any issues.

The Solana price is currently hovering around the 33.36 GBP level, this project is undergoing numerous exciting developments. SOL can be purchased at spot GBP price on any of the [major UK exchanges](/news/article/best-exchanges-for-crypto-uk).

This post will examine SOL in greater detail and explain whether you should consider investing in it!

## What is SOL?

It is a project that wants to [scale blockchain protocols](/news/article/solana-price-uk) so that they can handle real-world applications. The team behind Solana appears to have a lot of experience in both the traditional financial sector and technology.

So, SOL is a new cryptocurrency created to help make the technology more accessible and user-friendly. The Solana coin protocol allows developers to create and launch their blockchain-based applications on a white label basis. 

They can use SOL to power their applications without worrying about the underlying infrastructure. In addition, Solana can be used to pay for transaction fees and other costs associated with using the latest technology. 

## What are the use cases of SOL?

•	It can be used to produce and manage digital assets.

•	Developers can construct decentralized applications (dapps) using SOL.

•	On its platform, it can be used to pay for goods and services.

•	Participating in the platform's consensus mechanism enables users to earn interest in their SOL.

•	SOL can be traded for other cryptocurrencies or fiat money on exchanges.

In addition, SOL provides [many features and benefits](https://www.cryptonewsz.com/forecast/solana-price-prediction/) that make it an attractive option for developers looking to create and launch their decentralized applications.

## Bottom line

SOL is a scalable protocol that facilitates the creation of decentralized applications by programmers. The protocol employs a one-of-a-kind consensus mechanism to achieve high transaction throughput without compromising security.

Additionally, it features a native token, SOL, which can be used to pay network transaction fees. The protocol is open source and available for white label use by anyone.


The Solana blockchain & current price in GBP

Solana wallets are experiencing a severe cyberattack that has nearly drained $8 million. A leading [SOL-based NFT](/news/article/solana-nft) marketplace, Magic Eden has sent an alert to its users to cancel permission for dubious sources. The marketplace has pointed out that there has been a widespread exploit on the SOL blockchain. 

## Solana wallet funds being transferred to unspecified addresses

Many Solana wallet holders are reporting a loss of funds on Twitter. The funds from these wallets are being transferred to an unspecified address. However, some users have claimed that the wallet where all the SOL funds are drained is “Htp9MGP8Tig923ZFY7Qf2zzbMUmYneFRAhSp7vSg4wxV”.

![solana wallet 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/solana_wallet_1_91ef2d1dd4.png)

Mainly, the hot wallets are being targeted. Therefore, the hot wallets on Phantom and Slope are at the risk of being hacked and drained. So far, these wallets, including Magic Eden, are the firms that have reflected on this hack.

[Phantom](https://twitter.com/phantom/status/1554626111535026177) has ensured that it is working with its team to gather the information regarding the hack. Also, it has clarified that the hack is ‘Phantom-specific’. Likewise, Slope commented on the hack and said its team is working to identify the issue. Moreover, Slope is also updating its users regarding the developments. 

On the other hand, Magic Eden has also confirmed the breach in the SOL blockchain. Moreover, it has provided directions for its users to keep themselves safe from the cyberattack. Magic Eden has firstly directed to cancel permissions to unverified sources. Secondly, the marketplace has suggested transferring the Solana wallet funds to either a new or cold wallet. 

![solana wallet 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/solana_wallet_2_bd3fd1d4cc.png)
 
[Source](https://twitter.com/MagicEden/status/1554620084831674370)

## What’s the issue?

Though there is limited information regarding the breach, some speculate it to be a ‘supply chain issue’. PeckShield, a blockchain investigator, has pointed out that the supply chain has been breached before to steal the private keys. This could be the reason behind the Solana wallet hack that transferred funds to an unknown address.  



Cyberattack on Solana wallets drained $8 million

One of the leading Solana NFT marketplaces, Magic Eden, has announced a venture capital fund focusing on web3 games. The marketplace is looking to expand in the web3 games as it has launched an investment arm. 

Magic Eden is a Solana NFT marketplace that recently became a crypto unicorn startup. It's worth reached more than $1.6 billion. Now, the marketplace is preparing for expansion as it will focus on web3 games. The platform has announced a venture capital fund specifically for web3 games. 

## What's the gaming VC fund for Solana NFT marketplace Magic Eden for?

A venture capital fund is a pool of investments of small or medium-sized companies or startups. It is used to organise and regulate all the funds for the company's growth. Magic Eden, a growing startup that deals in Solana NFTs, has also announced a venture capital fund. 

According to the [press release](https://www.prnewswire.com/news-releases/magic-eden-launches-magic-ventures-with-focus-on-web3-gaming-301584577.html), the company has named the recently launched investment arm Magic Ventures, which is dedicated to web3 games. In addition, it will also scale up its gaming subsidiary, Eden games, through it. 

The company has diversified its team by onboarding several experienced game developers. Moreover, the company has established new partnerships with various gaming leaders.

## Tony Zhao, the head of gaming investments at Magic Eden

Besides, Magic Eden has appointed Tony Zhao as the gaming investments head. Zhao is a prominent name in this industry as he was associated with the leading Chinese game company, Tencent.  

It is expected that the appointment of Tony Zhao will help Eden games to develop its portfolio. Zhao will be working on developing web3 game infrastructures which can turn this Solana NFT market into a promising web3 games startup. 

In other news, Shanghai has developed a five-year plan that includes policies for crypto, NFTs, and also web3. Moreover, a leading video game enterprise, GameStop, has introduced its own marketplace for NFTs. Learn more about cryptocurrency, NFT, and blockchain-related news on [Moni Talks](/news). 
  



Solana NFT marketplace launch Web3 gaming fund 

## 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](https://decrypt.co/101342/solana-overtakes-ethereum-daily-nft-trading-trippin-ape-tribe) 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!



Review the Best Solana NFT Marketplace Options

If you're a fan of non-fungible tokens (NFTs), you're in for a treat! There are many upcoming Solana NFT projects to watch out for.

## Using Solana for NFTs

Solana is a blockchain with a significant NFT sector. It is considered useful to create a safe and secure environment for artists to sell their work and buyers to complete their purchases.
It also has lower transaction fees than Ethereum.

## About NFTs

Non-fungible tokens (NFTs) are unique digital assets used to represent ownership. Unlike traditional cryptocurrencies, which are fungible and can be exchanged for other currencies or goods, each NFT is unique and cannot be replaced by another token. This makes them ideal for representing digital art, collectibles, or game items.
Recently, the Solana Foundation announced plans to launch a new NFT standard, which will make it easier for developers to create and issue NFTs on the Solana blockchain. This is just one of many upcoming Solana NFT projects that could help boost the adoption of this emerging technology.

## Upcoming Solana NFT Projects

Here are some of the upcoming NFT projects that are being built on Solana:
- [Decenturion](https://www.coingecko.com/en/coins/decenturion): Decenturion is a decentralised autonomous organisation (DAO) that is based on the principles of blockchain democracy. It is one of the first DAOs to utilise NFTs as a means of governance, and it plans to use Solana to issue its own currency, the Decenturion Dollar.
- Aquarius: Aquarius is a platform that allows users to buy, sell, or trade digital collectibles. It plans to utilize Solana to issue NFTs that represent unique collections of digital art, music, and other media.
- DTube: DTube is a decentralised video sharing platform powered by the STEEM blockchain. It plans to migrate to Solana to take advantage of its faster transaction speeds and lower fees.

These are just examples of the many projects that are being built on Solana. With its support for [NFTs](/news/category/nft-news), Solana is quickly becoming one of the most promising platforms for decentralised applications.


Upcoming Solana NFT Projects

The Altcoin Season Index tracks whether investor interest points towards altcoins or [Bitcoin](/coins/btc). Normally, if three-quarters of the top 50 coins by market capitalization outperform Bitcoin over the last quarter (3 months or 90 days), the index could be called altseason.

On the other hand, if 75% of the top 50 coins cannot outpace Bitcoin regarding price performance in the last season (90 days), then there is Bitcoin Season.

[Altseason](/news/article/altcoin-season) is when there are more inflows into alternate coins than into the largest digital asset by market capitalisation, BTC.

## Importance of Altcoin Season Index 

Savvy crypto traders and investors use the altcoin season index to make decisions on whether they have to invest in altcoins or inject more money into Bitcoin.

A great example of the relevance of the Altcoin Season Index can be attributed to the current crypto climate, which is the second quarter (April to June) of 2022.

In April, the crypto altcoin season returned as Bitcoin dominance faded. An index of 100 tokens outperformed Bitcoin in March. Investors who wanted to diversify their assets in case Bitcoin plunged to new high lows bought more altcoins. They were not wrong, as the market crash of May led by Do Kwon's Terra project signaled a steep decline in all cryptocurrencies, with Bitcoin taking much of the fall.

In April, May, and June, the top 50 cryptocurrencies - including Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Ripple (XRP), Solana (SOL), Dogecoin (DOGE), Polkadot (DOT), TRON (TRX), Avalanche (AVAX), Shiba Inu (SHIB), Polygon (MATIC), FTX Token (FTT), Litecoin (LTC), Chainlink (LINK), Stellar (XLM), Uniswap (UNI), and Bitcoin Cash (BCH) - have not outperformed Bitcoin.

Although BTC has reached the same price levels as 2020, collectively, these cryptocurrencies and others have shed more in market value. Therefore, we can say that we are in Bitcoin Season and not altseason.
It is not surprising to see trader interest reflected in the liquidity of Bitcoin. Though much of this is related to huge selling due to the bearish trends of the market, high investor interest relative to a low-priced asset is a sign of positive reserve risk.

## How does Altcoin Season Index Relate to Bitcoin Fear and Greed Index?

Bitcoin [Fear and Greed Index](https://edition.cnn.com/markets/fear-and-greed) and Altcoin Season Index rely on BTC to make conclusions about crypto seasons.

Bitcoin Fear and Greed Index presents a bull market when the index is closer to 100 (greed) and a bearish market when the index is closer to 0 (fear). The performance of altcoins is measured against that of Bitcoin.

In conclusion, while we are not in an altcoin season in June, there is fear in the market concerning holding Bitcoin.


What is Altcoin Season Index?

In blockchain and crypto, there's always a battle raging. So, lets look at Solana vs Ethereum.
There has been competition between networks, and crypto coins, since the craze around decentralised applications (DApps) and non-fungible tokens (NFTs) in 2021.

While the 2020 DeFi summer depended on Ethereum as the primary driver, 2021 witnessed the peak of other crypto coins, like Solana, featuring higher trade speeds at reduced expenses. This was something that Ethereum aspires to accomplish using its Ethereum 2.0 upgrade.

While the two blockchains have their own particular fans and investors, Ethereum turns out to be leading as a blockchain that delivers a much more transparent and developed space for DApps. But, undoubtedly, the two have their own significance and differences that cannot be ignored.

This article examines the significant differences between the two blockchains. We explain the working model, each blockchain's core attributes, and the developing DApp ecosystem on each.

Let's proceed with the significant differences and attributes Solana and Ethereum offer.

## Working Model

One of the critical factors that differentiate Ethereum from Solana is the working model. Each has a distinct working technology operating at its core, and each has distinctive ways of solving the issues around scaling. This section of the article looks at the technology driving the two blockchains.

## [Ethereum](/coins/eth)

### Working Mechanism

Ethereum operates on Proof of Work (PoW) mechanism, the same as used by Bitcoin's blockchain. The network is secured by hundreds of thousands of miners who partake in the operation of consensus by "risking" their computing power/hardware. This ensures that the network stays decentralised and that the barricade to enter the network is high. It also reduces network performance as it cannot process many transactions per second.

### Stateful Design

The next point separating Ethereum from Solana is its "stateful" nature. It implies that all the trades on the network are documented in one state, and if any new trade ensues, then the complete network (or all the miners) has to update its network document to reflect that new trade. This process is expensive, so Ethereum 1.0 is deemed slower than other 'stateless' blockchains like Solana.

## Solana

### Working Model

Unlike Ethereum, Solana operates on the Proof of History (PoH) working model. The model needs a series of computational actions that cryptographically define the time course between two events. This is done by adding timestamps to all transactions and following each order. This type of order sequencing is significantly distinct from that in Bitcoin and Ethereum, where their transactions are not set in a timely order.

### Stateless Design

The other significant difference between Ethereum and Solana is that Solana has a 'stateless' design. As already mentioned, this enables a decrease in across-the-board memory consumption. Since the complete state of the network does not require an update for each transaction, they can be efficiently carried out sequentially. This makes Solana highly scalable.

## Features and DeFi Ecosystem

Every blockchain has some outstanding features that set it apart. Decentralisation is undoubtedly something Ethereum has always focused on compared to Solana's focus and has driven to accomplish that through its operational technology.
Talking about the DeFi ecosystem, Ethereum is much older than Solana in the market. Solana is constantly working on its marketing strategies to draw more investors towards its network, but Ethereum stays ahead because of its market hold and the trust gained over time.

Let's dive in to understand better the Solana and Ethereum features and the DeFi ecosystem.

## Solana

Solana's critical selling point is its power to process a block every 400 milliseconds and document 60k transactions every second. These key features independently make it one of the speediest working layer-one blockchains. Further, it has numerous features that drive it to stand apart. Let's discuss some of them.

### Enhanced Transaction Speeds

Solana operates on Tower Byzantine fault tolerance (BFT), an ad-lib version of pBFT (practical Byzantine fault tolerance). This terminates the requirement for nodes to communicate in real-time, enhancing overall efficiency.
Additionally, Solana operates on Gulf Stream, a mempool-less transaction forwarding standard that pushes the transactions to the network's edge. This allows network validators to carry out transactions earlier than expected, encouraging the network to process over 50,000 transactions every second (TPS).

### Improved Scalability

A critical element that drives Solana to stand apart from its opponents is that the blockchain is scalable at its ground level; it does not need layer-two solutions to boost scale. A vital blockchain component that assists in this scalability is the Turbine block propagation protocol. It enables splitting data into small fragments, making it manageable to share it across the network. Sealevel also helps in the processing of transactions across GPUs and SSDs.

Together, these features make for a positively scalable, efficient, and cost-effective blockchain.

### DeFi Ecosystem

Solana's DeFi ecosystem is still at its developing stage, with diverse DApps being launched on the platform. This results from comprehensive hackathons and other marketing techniques the network has utilised to draw a broad user base. The blockchain has more than $12B in total value locked (TVL) across all its DApps.

One of the significant DApps on Solana is Raydium, an on-chain ordering book AMM that enables users to conduct transactions. Since launching in April 2021, it has collected over $1.8B.

## [Ethereum](/coins/eth)

Ethereum's strong point is its decentralisation. However, it lacks the power to process a vast number of transactions per second. The barricade to enter and become a validator is not too high, creating a trustless, decentralised network. To reimburse for the scarcity of scaling attributes at the native blockchain, layer-two solutions deliver evolved scalability and throughput.

### Technology

Turing-complete language is one of the critical elements of Ethereum, specifically at the time of its launch. This means that it can sustain a variation in programmability, enabling the creation of diverse smart contracts. Thus, it utilises Solidity as its ground programming language for coding smart contracts.
Ethereum was one of the first blockchains in designing decentralised on-chain smart contracts.

## Stablecoins

Stablecoins are the drivers of decentralised finance (DeFi). See them as regular currencies like USD. The only distinction is that stablecoins are cryptocurrencies that designate one unit of standard fiat currency — a cryptocurrency secured to a fiat currency. Since all major cryptocurrencies are highly volatile, having a type that stays secured to one unit of a standard fiat currency makes sense. Stablecoins do a flawless job in accomplishing that. 

## DeFi Ecosystem

Sushi was the first DApp on Ethereum. It is one of the largest order, bookless, peer-to-peer cryptocurrency trades that gives investors the power to buy/sell their desired tokens easily. It has seen a massive performance since its launch in September 2020.

Apart from Sushi, Compound was one of the primary DApps behind the DeFi summer of 2020. It is a lending medium on Ethereum that witnessed massive growth in its borrowing volume.
Ethereum, older in the market than Solana, has a more extensive investor base which finds Ethereum a promising investment for funds.

## Solana vs Ethereum. Who Holds the Crypto Power?

On one hand, the Ethereum network has over 7,000 nodes and 90,000 validators and has a market value of almost $400 billion. Yet, Ethereum 1.0 lacks scalability and is comparatively more expensive than its competitors, Cardano and Solana.
However, the blockchain is ready to launch its upgraded version, Ethereum 2.0, which is anticipated to solve all the cryptocurrency problems, especially its scalability issues; the number of transactions per second. 

Talking about Solana, it possesses 600 nodes and around 1,000 validators. According to the recent data available on Solana's website, it is presently [hosting around 340 apps](https://solana.com/ecosystem). Meanwhile, Ethereum has more than 3,000 Dapps operating on its network.

So, coming back to our question, who holds the crypto power, Solana or Ethereum? Solana has high scalability features and excellent marketing techniques to acquire investors. Ethereum has the first-mover benefit and enjoys the advantages of network effects.

Ultimately, Solana has room for development, but, certainly, Ethereum holds the crypto power. It has too much momentum, especially when it comes to DeFi Applications. Ethereum, though it lacks some cryptocurrency features, holds the second-largest cryptocurrency market cap and investors find the blockchain promising for their returns.
However, Solana is expected to shine in the fast-growing NFTs market. 

It is one of the best-designed cryptocurrencies, and it remarkably performed well when the significant cryptocurrencies fell 10-15%, which is outstanding for a crypto coin.


Solana vs Ethereum: Who Holds the Crypto Power?

NFT marketplaces brings back 6.39 million results when searched for on Google. This means that you are not alone in looking for the best NFT marketplaces for 2022.

You continue to come across news of people buying digital cats, apes, in-game designs, and digital art for millions of dollars. It usually surprises you, since art pieces were typically purchased at auctions from well-known galleries across the globe. You may have asked countless times where people keep getting these digital collectibles. Do not worry, Moni Talks has got you covered when it comes to the best NFT marketplaces to buy digital arts that suit your investment preferences.

Since the second half of 2020, non-fungible tokens (NFTs) have sailed on. Many traditional investors, and cryptocurrency holders, are doing everything in their capacity to own and speculate on these blockchain-based assets that are verifiable, indestructible, indivisible, and non-interoperable.

NFTs are digital tokens representing ownership of an asset that is scarce, whether a digital or physical item. Some of these items include real estate, in-game items, collectibles, soundtrack, and artwork.

Unlike cryptocurrencies such as Bitcoin (BTC), ApeCoin (APE), and [Ether (ETH)](/coins/eth), or fiat currencies such as the United States Dollar (USD), Euro, and the Great Britain Pound (GBP), these tokens cannot be exchanged for another.

This is because they come with unique attributes and traits that can be verified but do not have the divisibility of cryptocurrencies or fiat money.

Moreover, unlike digital assets, NFTs cannot be bought on exchanges (centralised and decentralised). Instead, you can find them on specially built online marketplaces.

## What are NFT Marketplaces? 

NFT Marketplaces are platforms where digital collectibles can be displayed, stored, traded, and minted in some cases. These marketplaces are to NFTs what exchanges are to cryptocurrencies and e-commerce websites such as Amazon and eBay are to goods and services.

To be eligible to partake in the activities of these marketplaces, you need to meet the following requirements.

Firstly, you must have a crypto wallet. There are several crypto wallets out there. You should also note that there are several NFT blockchains in the market, as of May 2022. Therefore, the onus falls on you to find a wallet that can access the blockchain network of the NFTs you wish to purchase.

A great example can be attributed to planning to buy or sell NFTs on the blockchain technology of Ethereum. You'll need a wallet like [MetaMask](https://metamask.io/) since it facilitates access to the Ethereum Network. In the same way, should you choose to buy or sell NFTs on other blockchains, you need to find wallets that grant access to those networks.

Secondly, you must have a certain amount of coins in the wallet. You cannot buy cryptocurrencies without fiat or other coins as deposits. In line with the same requirements, you need to deposit coins in your wallet before you can buy, sell, or mint a non-fungible token. More importantly, you will have to check the kind of cryptocurrencies supported by your preferred NFT marketplace before settling on a particular platform.

Lastly, you need to create an account. If you want to buy cryptocurrencies, you must create an account on exchanges that support a particular token. Inferring from the same activities you perform in the crypto space, you need to register for an account on the NFT marketplace of your preference.

In the crypto finance space, you can never do away with fees.

The same holds for listing and creating NFTs. You have to pay a blockchain network fee. There is a not a one-size-fits-all approach and, as a result, you should know your fee is dependent on the blockchain you use for your NFTs. Ethereum has the lion's share of NFT dApps, but it has relatively higher fees than other NFT blockchains.

## What are some of the NFT Blockchain Options?     

Ethereum is the most popular blockchain for decentralized finance (DeFi). Vitalik Buterin’s innovation has the largest blockchain by NFT sales volume. As of May 3, 2022, the total NFT sales volume generated by Ethereum was around $24.99 billion, per data retrieved from CryptoSlam.

This makes Ethereum the most popular chain to buy, sell, and create unique digital collectibles.

Aside from Ethereum, competing NFT blockchains include but are not limited to; Solana, TRON, Polygon, Flow (by Dapper Labs), Polkadot, Algorand, Avalanche, Ronin, BSC, WAX, EOS, Cosmos, Hedera Hashgraph, Cronos, Palm, Arbitrum, Panini, Tezos, Waves, and Fantom.

Interoperability is the hallmark of most of these blockchain systems. For example, you can use ERC20 tokens (Ethereum-based tokens) such as the United States Dollar Tether (USDT), the United States Dollar Coin (USDC), and Binance Coin (BNB), DAI, and others to buy Ethereum-based-non-fungible tokens.

On the other hand, blockchains such as Flow are not interoperable. You can only buy NBA TopShot NFTs with the native asset of the Flow ecosystem, FLOW.

## How Do These Marketplaces Work?

### Register for an Account 

Although there are slight differences when signing up for an account on an NFT marketplace, the main steps are similar.

It involves creating an account and connecting a supported wallet address to your preferred NFT marketplace.

Usually, you can find the "sign up" button at the top right-hand side of the homepage of an NFT marketplace.

Since you know the importance of holding onto your private keys and your passwords, you will be asked to input secret details of your wallet. Once done, your account will be fully set up.

### Buying a Non-Fungible Token 

There are several ways of buying an NFT. You can buy a digital collectible directly at a fixed price. What's more, you can buy an NFT through an auction. In some instances, owners of an NFT are open to negotiating the price of their digital collectibles.

### Selling a Non-Fungible Token 

Selling unique collectibles is more complicated than buying them. Selling NFTs is easy if you are reselling previously purchased items. Unfortunately, if you are selling something you have created, you need to go through a lengthy process.

•	Firstly, you have to upload an image of the digital art, tweet, or soundtrack onto your preferred NFT marketplace. Then you enter a fixed price for the NFT or entice buyers to battle for the piece through an action.
•	Secondly, verification of the NFT is done by the platform. If this is approved, the digital collectible will be listed for sale.
•	Lastly, once a seller accepts a bid for the NFT, the marketplace oversees the completion of the item's transfer from the buyer to the seller.

### Minting a Non-Fungible Token 

Ethereum is the best place to start if you are considering minting NFTs. You'll need an Ethereum wallet like Coinbase Wallet, TrustWallet, or MetaMask that supports Ethereum's token standard for NFTs.

Minting NFTs come at a cost. Therefore, you should have at least $50 in your wallet to cover Ethereum gas fees.
Once you have this, you can access NFT Marketplaces such as Mintable, Rarible, or OpenSea. A "Create Button" is typically found on the top right corner of most platforms.

Once you click on that button, you will be taken to a page where you can begin minting NFTs.

## What are some of the best NFT Marketplaces? 

There are several types of NFT marketplaces. Art-oriented and universal platforms dominate this market. Others, such as niche NFT marketplaces that list virtual real estate, digital collectible cards, and in-game items, are also preferred by millions of people.

Let us look at five of the most popular NFT marketplaces in addition to other honorable mentions.

•	OpenSea: • Launched on December 20, 2017, OpenSea is an online p2p marketplace where NFTs in the form of digital arts, in-game items, and other products can be bought and sold. As one of the most established universal NFT marketplaces, you can find domain names, virtual worlds, sports collectibles, and trading cards. It is the largest NFT marketplace by trading volume.
•	LooksRare: • Launched in January 2022, LooksRare has given strong competition to OpenSea. When you consider data from Dune Analytics, this NFT marketplace recorded more than $800 million in a single week in April. Having spent four months as a platform for buying and selling NFTs, Otherdeed, Bored Ape Yacht Club, and Mutant Ape Yacht Club are the top collections on Looksrare.
•	Foundation: • Founded in February 2021, Foundation has become the go-to NFT marketplace for several creators. This is the playground for collectors, curators, and artists to experience the new way of buying, selling, and minting digital collectibles. Some of the top-selling Foundation (FND) NFTs include Carpoolers, At World’s End, Lucid Journey, Faced Fears, and Arrived.
•	Rarible: • Launched in 2020, Rarible is one of the most patronized NFT marketplaces in the crypto stratosphere today. Data retrieved from Dune Analytics shows that Rarible trails only OpenSea, LooksRare, and Larva Labs in weekly volume. It is an NFT marketplace where millions of people create, sell, and collect digital items. It is one of the few NFT marketplaces controlled by community members through their ownership of RARI tokens. Some of the top collections include but are not limited to CyberBrokers, CloneX, Mutant Ape Yacht Club, Bored Ape Yacht Club, Invisible Friends, Dippies, Azuki, and Dour Darcels.
•	Nifty Gateway: • Founded in 2018, Nifty Gateway is one of the largest NFT marketplaces. This platform holds the record for the most expensive digital collection ever sold. For $69 million, Beeple sold its collection labeled Everydays: The First 5000 Days. Beeple also sold Crossroad for $6.6 million on this platform. Other best-selling digital collectibles include Tpunks and CryptoPunks.

## NFT Marketplaces: Honorable Mentions

Although the NFT marketplaces already mentioned are some of the best platforms to buy digital collectibles, they are not the only ones. Others, such as SuperRare, Larva Labs, GameStop, NFT Launchpad, Crypto.com, DraftKings, and WAX, have great collections.
 
## What are some of the best NFT art collections? 

Once you settle on the best NFT marketplace that can oversee your activities, you have to find an NFT collection to invest in.
Although there are hundreds of collections in the market today, Moni Talks would like to draw your attention to the top five NFT collectibles by all-time sales volume.

•	Axie Infinity: • This NFT marketplace hosts in-game characters from the play-to-earn game called Axie Infinity. On the platform, players earn rewards by breeding, battling, and trading digital pets called Axies. Axie Infinity’s game has become a source of passive income for millions of people. As of May 2022, Axie Infinity has surpassed more than $4 billion in sales volume.
•	CryptoPunks: • This is a collection of 10,000 unique punks. Each CryptoPunk is different and can be officially owned by a single person. It is one of the highest-selling digital collectibles. Overall, CryptoPunks has surpassed more than $2 billion in sales volume.
•	Bored Ape Yacht Club: • Mirroring CryptoPunks and other projects that came before it, BAYC comprises 10,000 unique bored apes. They come in the same template but have different accessories. BAYC is the third-highest selling NFT collectible with more than $2 billion in sales.
•	Mutant Ape Yacht Club: • Mutant Ape Yacht Club (MAYC) is the sister project of BAYC. As of the most patronized digital collectibles, it is the fourth-highest selling NFT with more than $1 billion in sales volume.
•	Art Blocks: • As a unique platform, this project helps you pick a theme or style you like and make payments. Then, a random generation version of your selected style will be created by an Art Block algorithm which will be forwarded to your Ethereum account. Millions of people have taken advantage of this technology. As of writing, Art Blocks as an NFT collection had more than $1.2 billion in sales.

Others deserving of honorable mentions include NBA Top Shot, Azuki, The Sandbox, Meebits, World of Women, Decentraland, Valuables, and Sorare.
 
 



NFT Art Marketplaces: A Beginners Guide

Are you looking for the Solana price? The UK market views can be informative.

The term 'solana price uk' is a hot phrase on Google, and here's why.

The [Solana](https://solana.com/) price (UK and elsewhere) has performed exceptionally well since its inception in 2019. However, that doesn't imply you should get in and invest right away.

Instead, think about the potential rewards as well as the risks before investing any money.

## A Little Knowledge on Solana

Solana was created in 2019 to address the shortcomings of traditional blockchains such as [Ethereum](/coins/eth). This means providing network users with a blockchain ledger that is faster, cheaper, and more scalable.

For example, even though Ethereum is the world's second-largest cryptocurrency and the de-facto smart contract system of choice, it can only handle 15 transactions per second. This is just too inefficient to be used as a worldwide blockchain network. On the other hand, Solana is said to be capable of processing over 65,000 transactions per second.

Another reason for Solana's popularity is that the blockchain network can process transactions in as little as 2-3 seconds, compared to the 13-15 seconds for Ethereum. Furthermore, although Ethereum transactions are notorious for having high costs when the network is busy, Solana transactions are lower cost.

Based on these performance-driven measures, many market observers predict that Solana will one day overtake Ethereum in terms of market valuation and global acceptance. Solana, like Ethereum, has its own native cryptocurrency token, SOL, which trades on exchanges.

### So why is 'solana price uk' such a popular search term?

Interest in Solana grows, despite its volatility. However, many crypto traders are sceptical about Solana's winning streak and are hesitant to buy it. Below are some of Solana's advantages and disadvantages to help investors decide whether Solana is a suitable investment for 2022 or not.

## Disadvantages 

1.	Unstable network: The investor community in Solana is still in its infancy. Investors may be hesitant to choose SOL over Ethereum because it is less well known. When the Solana Foundation confirmed its network was experiencing instability, the crypto's reputation took a knock. Because crypto investors value trust, this flaw sets SOL apart from its competitors.

2.	Inflation: Cryptocurrencies rose in popularity in 2020 for various reasons, one of which was to use them as a hedge against inflation. Most cryptocurrencies have a fixed limit on the number of coins that will ever exist. However, Solana does not have a consistent supply of currency. The designers started boosting the annual supply of SOL tokens by 8%, which means that the inflation rate will reduce by 15% until it reaches 1.5 percent, which will stop decreasing.

3.	Solana isn't decentralized enough: While some crypto enthusiasts claim there aren't many drawbacks to investing in SOL, this cryptocurrency element is widely regarded as its most significant drawback. The ETH network currently has approximately 200,000 validators, while the Solana network has only 1,000 validators. The more validators there are, the more secure the network becomes.

## Advantages

1.	Solana has the third-largest features market: Solana has the third-largest open interest in futures contracts, the most crucial measure in derivatives contracts. Regardless of its current trading capacity, the aggregate derives the total number of contacts stored on its network by market players. Open futures interest has maintained its previous levels despite a steep drop in price in early November.

2.	NFTs and Smart Contract: Over the last year, the NFT industry has exploded. Non-fungible tokens became a high-growth industry prospect, with massive sales sponsored by renowned digital artists. Solana went into the market to share the NFT alternative, taking advantage of the growing sector.

3.	There's a solid institutional attraction for Solana's ecosystem: The market capitalization of Solana is more than quadruple that of Avalanche and Terra. The last year has shown strong signs of SOL's rising investor community, and with increased investor adoption comes increased institutional adoption.

SOL's suitability for your investment is determined by your risk tolerance, asset diversification, and the amount of money you wish to invest. It's crucial to conduct research before investing in highly volatile assets like cryptocurrencies to see if they're a good fit for your portfolio.


Solana Price: UK Market View on SOL

Are you looking for a Solana price prediction for 2022, 2025, and 2030, and want to know where the price of this promising coin will go in the future?

This guide will analyse Solana’s past prices, current standings, and SOL price forecast.

Solana is a blockchain platform designed to host scalable and decentralized applications with smart contract functionality. Its native cryptocurrency is SOL and claims to provide the fastest transaction times and lower costs than its rival blockchains, such as Ethereum.

## What is Special about Solana

Solana has become one of the most highly used blockchains today, with a theoretical peak capacity of 65,000 transactions per second. It’s becoming popular due to its low transaction prices and high speed.

[The Solana Foundation](https://solana.foundation/) launched its cryptocurrency in 2020, but you might wonder why it is trending today. Solana has recently gained widespread popularity due to its incredible functionality and high usability. Its astronomical surge has attracted the attention of many investors, leaving many of us wondering about its potential.

With SOL's excellent traction and popularity, many people wonder whether the coin is a wise long-term investment or if they should get rid of what they have before it goes further down.

## Solana Price Prediction

Let’s look at our SOL price prediction and what potential Solana may have in the future.

### Solana’s Price Today

Solana is a fast and secure blockchain that provides efficient decentralized finance or DeFi solutions. Although the coin was launched in March 2020, it was only in 2021 that it found acclaim and gained popularity. Solana went from position 42 in February 2021 all the way up to rank 7 in September of the same year.

### How did Solana’s price rise so fast

Solana is a highly efficient coin. But the catalyst that made its price skyrocket is an NFT project called the “Degenerate Ape Academy”. This project had sold over 10,000 NFTs in only a matter of minutes. The minting of the Apes went without any inflated transaction fees and congested network. This allowed many people to notice it and the benefits it offers.

### Solana (SOL) Price Prediction for 2022, 2025 and 2030

At Moni Talks, we predict the future Solana price predictions by using deep AI-assisted technical analysis and collecting maximum historical data for the SOL coin. This includes Solana's past price, market cap, volume, and other factors.

### Solana Price Prediction 2022

The average price of SOL could hit ~$135 with the minimum price around $100, and the maximum price level could reach ~$170. Solana has recovered more than half of its losses for the year. So, the year-end predictions have increased closer to $200.

### Solana (SOL) Price Forecast for 2025
The average price prediction of Solana is around $358.60, with the minimum price around $348.44 and the maximum price at $430.94.

### SOL Price Prediction 2030

The price of SOL is predicted to reach a minimum value of $2,150 and a maximum value of $2,630. The average trading price of SOL is expected to be around $2,312.52 throughout 2030.

### Is Solana a Good Investment?

Solana is a fast and efficient cryptocurrency, which gives the coin an excellent chance to keep growing in the future. Its value is expected to continue expanding as high demand encourages price rise. Even if SOL doesn’t shoot for the moon as expected, there’s a chance it can still be a good investment if it doesn’t crash. Since there’s some risk to any investment, you should conduct the maximum research possible before coming to any conclusion.

More [coin news](/news/category/crypto-coin-news).


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