In recent years, the prominence of non-fungible tokens (NFTs) in the world has been steeply increasing. This is all due to fine art collectors spending a lot of money on such digital arts. Due to such enthusiasm for selling and buying artworks, multiple marketplaces for NFTs emerged, with some restricting themselves to a particular kind of collectibles. In contrast, others opened up their portals to sell anything with a blockchain record as an NFT.
Solsea is one of the NFT marketplaces that supports every kind of NFT collectibles and is one of the popular marketplaces. In this blog, we can see more about Solsea and develop a Solsea like NFT marketplace.
A Brief Introduction on Solsea
Solsea is one of the popular NFT marketplaces, which runs on the Solana blockchain. Apart from buying and selling NFTs, its users can also instill licenses for every NFT item they have purchased.
The blockchain it runs on – the Solana blockchain is a fierce competitor to the two popular blockchain networks, which are Bitcoin and Ethereum.
How Does Solana Positively Impact Solsea?
Since the Solsea marketplace platform is built on the Solana blockchain, the transactions are processed much faster than other blockchain networks. One should particularly note that the transactions through Solana are even faster than Ethereum and Bitcoin.
Solana also has a lower processing cost than most other blockchains. This might be shocking to you as we just said transactions are faster on the blockchain.
That is because Solana utilizes a Proof of Stake (POS) mechanism, which is more environmentally friendly than Proof of Work, as POS consumes lesser electricity.
Solana also has a Proof of History feature that records credible timestamps encoded into the transactions without any confusion due to the system’s distributed nature.
Thus, the Solana Blockchain impresses its users with both faster transactions and lower fees, making it a win-for-all for both you and your customers.
Why Has Solana Recorded a Phenomenal Growth?
The biggest factor contributing to the Solana blockchain’s growth is its lower transaction fees. It takes nearly $0.001 per transaction, which is unimaginable in any other chain.
Also, due to some added innovative features in the Solana blockchain, the chain is robust, therefore ensuring security for its users.
Salient Features of Solsea Like NFT Marketplace Platform
An NFT marketplace like Solsea would boast of some incredible features, which are given below.
- A platform like such allows its users to attach licenses to their NFT collectibles, and it is the only marketplace platform so far to provide such a feature.
- Such a portal supports both public and private NFT listings, thus making it easy for sellers to sell based on their wishes. For example, private listings can perfectly serve the purpose if someone wants to sell some unique assets to their close ones at a discount. Otherwise, for general sellers, public listings can fit their needs.
- A platform like such offers its users a calendar to track the price of an NFT since the time it had been listed on the marketplace so that buyers can make informed decisions.
- In a Solsea like NFT marketplace, users can choose between multiple cryptocurrencies, such as SOL (the native token), USDC, SRM, and even some stablecoins.
- In such a portal, you can view the NFT product in 3D, thus providing you with appealing and convincing views rather than a plain 2D image.
- In a Solsea like nft marketplace, every NFT asset is given a rarity index based on its attributes and availability, even though it is a unique record on the blockchain.
- Such a platform supports bulk minting of NFT collectibles by creators simultaneously. Since Solana is the chain running such a platform as Solsea, the process takes place faster.
- Additionally, more features such as AR viewer, collector toolset, serum order book integration, launchpad, and advanced license management system are developed. You can expect such a platform to host these functionalities.
How Does A Solsea-like Marketplace Work?
- The user must first connect their wallet to Solsea. Such a platform supports wallets like Phantom, Solflare, and Sollet.
- Now, creators can start to upload their digital assets in the prescribed format given on the portal.
- Once the process is done, they have to add titles and descriptions to their NFT collectibles, called minting. As said before, they can use the bulk minting feature as per their needs.
- Once the platform verifies the identity of digital NFT assets after minting, creators can list them on the marketplace.
- From then on, they can start trading once buyers express their interest in the NFTs.
How Can Blockchain App Factory Help You With Developing a Solsea-like Marketplace?
With its expertise in blockchain development and experience in developing marketplaces like Solsea, the Blockchain App Factory can help you launch your new Solsea like NFT marketplace. Creating a marketplace portal can be complex, depending on your requirements. So, opt for a Solsea-like marketplace, from which you can customize before launching as per your intent. Talk with one of our experts now to know more!