The Solana NFT marketplace, Tensor, is making headlines with its latest announcement to introduce a governance token, signifying a major step in engaging its community in the platform’s decision-making processes. The organization broadcasted the forthcoming arrival of the TNSR token using a social media platform, though the specifics were not fully divulged.
Stellar Performance in Trade Volumes
Tensor has reportedly performed exceedingly well in facilitating transactions within the Solana NFT ecosystem. It claims to have processed trades worth approximately $2.2 billion for Solana NFTs, which shows a stark increase from the $7 million volume in the prior March. This statistic is particularly notable considering Tensor only became active towards the end of the previous year.
The marketplace’s impact is evident with its protocols handling over 70% of all Solana NFT transactions in the past 90 days. This level of activity has positioned Tensor as a dominant force in the Solana NFT space.
Growth Trends in NFT Markets
Comparatively, Solana NFTs have been ramping up their presence, trailing behind Ethereum-based NFTs in terms of transaction volume. Data indicates a consistent rise in activity, with Solana NFTs seeing over $200 million in trades each month from December to February.
In a strategic move to attract serious investors, Tensor, which likens itself to Ethereum‘s Blur marketplace, secured $3 million in seed funding. The round was spearheaded by Placeholder VC, with significant backing from Solana Ventures and Solana’s co-founders, highlighting Tensor’s growing prominence in the market.
