Solana, the high-speed blockchain platform, has been gaining traction in the NFT marketplace. One of the companies at the forefront of this growth is Tensor, which has recently raised $3 million in funding for its Blur model to incentivize NFT sales. With Solana’s NFT trading volume on the rise, Tensor’s success highlights the importance of staying true to your vision and providing unique offerings to the market.
Key Highlights
- Tensor’s “Season 1 airdrop” for Solana NFT collectors allows for free reward boxes and 25x-50x more rewards for trading activity.
- Tensor provides unique offerings, including an automated market maker (AMM) trading pool and detailed “pro” interface with additional tools for traders.
- Despite facing challenges with convincing investors to back them, Tensor secured $3 million in funding from within the space, including VC firm Placeholder and Solana co-founders Anatoly Yakovenko and Raj Gokal.
- Tensor’s success highlights the potential of the Solana NFT market and the importance of staying true to one’s vision and providing unique offerings to the market.
- With Tensor’s “Season 1 airdrop” and commitment to its user base, companies like Tensor will continue to play a crucial role in shaping the NFT industry and providing value to its users.
Tensor’s “Season 1 airdrop” was launched on Monday, allowing Solana NFT collectors to claim free reward boxes in proportion to their trading activity. Those who bought or sold a Solana NFT on Tensor will receive 25x-50x more rewards than those on other marketplaces. As a result, Tensor’s Solana NFT trading volume surged to a new single-day high, reaching 23,351 SOL, or about $486,000 worth based on the value of Solana by the end of the day. According to Tiexo, Tensor facilitated about 19% of all Solana NFT trading volume over the past 24 hours, compared to 60% for market leader Magic Eden.
Despite its success, Tensor faced challenges in convincing some prospective investors to back them. Some VCs hung up on Tensor after hearing they were not leaving Solana. However, Tensor found interested backers within the space, including VC firm Placeholder, Solana co-founders Anatoly Yakovenko and Raj Gokal, Solana Ventures, Big Brain Holdings, and MonkeVentures.
Like Blur, Tensor is built around automated market maker (AMM) trading pools rather than standard marketplace listings, which provide increased liquidity for buying and selling NFTs. Tensor offers a detailed “pro” interface with additional tools for traders, as well as reward “boxes” that they can claim containing “fun things you might like.” Furthermore, Tensor believes in a decentralized Web3 future with the most important protocols owned by the community.
Tensor’s success shows the potential of the Solana NFT market, as well as the importance of providing unique offerings and staying true to one’s vision despite doubts from others. Tensor’s $3 million funding round is a positive sign for the Solana ecosystem and further solidifies the company’s position as a leader in the space. Tensor’s “Season 1 airdrop” and larger second season airdrop, which will only reward trading activity on its own platform, demonstrate Tensor’s commitment to its user base and providing unique offerings to traders.
In conclusion, Tensor’s success in the Solana NFT market highlights the importance of staying true to your vision and providing unique offerings to the market. Its “Season 1 airdrop” and larger second season airdrop demonstrate Tensor’s commitment to its user base and providing unique offerings to traders. Tensor’s $3 million funding round is a positive sign for the Solana ecosystem, and its success shows the potential of the Solana NFT market. As the NFT market continues to grow, companies like Tensor will play a crucial role in shaping the industry and providing value to its users.