Source: Cult of Money
Non-fungible tokens, more often referred to as NFTs, are a fun and exciting way to collect and trade digital assets.
NFTs also range from well-known collections of themed artworks to unique music, playable gaming assets, virtual real estate, and much more.
And you want to use the high-speed, low-cost Solana blockchain for your NFT needs and save on high ETH gas fees, you're in luck. Here’s a look at some of the best marketplaces to buy and sell Solana NFTs.
Editor's Pick For The Best Solana NFT Marketplaces:
What Is A Solana NFT?
NFTs are a digital asset that works using digital wallets and blockchain technology, the same technology that powers cryptocurrencies. They also verify ownership of digital and real-life goods.
You need cryptocurrencies to pay for NFTs in most cases. But while Ethereum is the most popular blockchain and currency for NFTs, Solana isn’t far behind.
Solana NFTs are great for their fast processing times and low costs. You can do the same thing with Ethereum but have to pay significantly more for each transaction.
And when you buy a Solana NFT, you are the sole owner of that digital creation. While anyone can view it, the blockchain lists your wallet as the owner, giving you the right to hold indefinitely or resell to others.
The Best Solana NFT Marketplaces
If you're ready to buy and sell Solana NFTs, the following marketplaces are repuatable, popular options for getting started.
MagicEden
MagicEden is a Solana NFT marketplace with collections, auctions, and a new creator launchpad, among other features. The top collections on MagicEden include:
- Aurory
- Degenerate Ape Academy
- Shadowy Super Coder DAO, Aurory
- Thugbirdz
Eden also offers its own Eden Games, three games where you can use NFTs during gameplay. This is a similar concept to play-to-earn crypto games, and it's a chance for gamers to utilize NFTs in their gameplay.
And, one interesting element of MagicEden is the MagicDAO. A DAO, or decentralized autonomous organization, is a completely decentralized organization where stakeholders vote on the future of the platform.
If you purchase a Magic Ticket NFT, you get to join MagicDAO. The average price for a ticket is around 0.60 SOL currently. In time, MagicEden plans on rewarding DAO members with loyalty rewards, giveaways, and other unique perks.
As for purchasing NFTs, MagicEden takes a 2% fee on all transactions, with royalties paid to creators. There are no listing fees to add a new NFT to the MagicEden marketplace which is great news for digital creators.
Solanart
Solanart has hosted more than 4.8 million SOL in sales as of this writing. If you’re into Solana NFTs, this is a site you should know about.
Popular collections on Solanart include:
- Aurory
- Bold Badgers
- Degenerate Ape Academy
- Galactic Gecko Space Garage
- SolPunks
With more than 2,000 transactions per day, it’s a busy marketplace. You can also mint and sell on Solanart if you're a digital creator or simply use it to invest in Solana NFTs.
Note that Solanart charges a 3% marketplace fee in SOL on every transaction. So, make sure you have enough SOL in your wallet to cover both the purchase price and the transaction cost for your NFTs.
SolSea
SolSea is a large, open Solana marketplace. It supports funding with FTX-Pay and MoonPay if you don’t already have a funded Solana wallet. It focuses on artwork NFTs primarily, including NFT collections, and offers ongoing royalties for creators.
The "hot artists" section helps you find trending artists to buy Solana NFTs from. You can also browse popular NFT collections like:
- Aurory
- Degenerate Ape Academy
- Investor Whale
- Sol Baby Unicorns
- Sol Bit Stars
There’s a 3% fee on every transaction, plus an artist-determined royalty fee. There are no other marketplace fees, though Solana network fees apply.
Among other listings and features, it includes adult 18+ filters for NFTs you may not want to share with your grandma. Overall, SolSea is definitely one of the more versatile Solana NFT marketplaces out there.
Solport
Solport is another massive Solana NFT marketplace that's very easy to use if you have an active, funded Solana wallet. It supports buy now prices, auctions, and offers for listings.
Like other popular NFT marketplaces for Solana, Solport has a range of collections you can browse like:
- Baby Goblin
- Billionaire Whale Club
- Mutant Monkey Business
- Pengoo
- ThugPunks
Solport charges a 2% fee to sellers using the platform. Like MagicEden and other marketplaces, there aren't listing fees.
Solport also uses a rarity score like many other NFT marketplaces to help you understand how much an NFT may be worth. But don’t use any site’s rarity calculation in a vacuum. It’s a good idea to research similar NFTs to estimate the future value before buying.
Metaplex
Metaplex hosts NFTs including art, gaming objects, and digital collectibles for Solana. Like Amazon sellers, Metaplex artists can create their own storefront listing their NFTs and digital projects.
However, there are no extra fees beyond the standard platform charges. You can also use Metaplex to create your own marketplace using the Metaplex software standard, which has been used to mint 7.5 million NFTs to date.
Using Metaplex, you can set your buying and selling fees for your sub-marketplace. This is a unique offering that stands out from others on the list.
Pros & Cons Of Solana NFT Marketplaces
Frequently Asked Questions
Does Solana Support OpenSea?
OpenSea is the largest Ethereum-based NFT marketplace is the world where you can find popular NFT collections like Bored Apes and VeeFriends.
Currently, OpenSea doesn't support Solana NFTs. However, rumors have it that OpenSea is working on a Solana integration and also plans to add support for popular Solana wallet Phantom.
What Are The Best Solana NFT Projects?
It's difficult to label an NFT project as being the "best" since the value of NFTs can fluctuate rapidly and many NFTs serve as collector items and don't have utility.
That said, Solana NFT projects are gaining steam behind Ethereum-based NFTs. Some of the most popular Solana NFT projects you can research include:
- Aurory
- Degenerate Ape Academy
- Frakt
- Galactic Gecko Space Garage
- Pesky Penguins
- Solana Monkey Business
- SolPunks
- Thug Birdz
Some of these Solana NFT projects have hundreds of millions of dollars in trading activity since their inception, so there's certainly a lot of money in this space.
Methodology
Cult of Money wants to help its readers build wealth and find happiness. It's also our goal to highlight opportunities in crypto and decentralized finance that readers can take advantage of.
Reviewing different crypto wallets, exchanges, and NFT projects is part of this process. But our reviews are unbiased and consider several factors, such as ease-of-use, number of supported assets, fees, and other consideration.
This is our list of our favorite Solana NFT marketplaces. However, there are other marketplaces and Solana wallets you can use to buy and sell NFTs. Additionally, you should always do your due diligence and consider several options before picking a marketplace to trade on.
The Bottom Line
Solana NFTs are not for everyone, but if you’re in the market for one, any of these marketplaces may do the trick. From popular collections to one-of-a-kind creations, NFTs can be a lot of fun to buy, sell, and own.
But before you click the buy button, make sure you understand the full costs, risks, and how NFTs work. If you do, you should have a positive experience with Solana NFTs.
Just remember: buying and selling NFTs can create taxable events. So, before you invest, also ensure your crypto and NFT bookkeeping is up for the task!
Eric Rosenberg is a financial writer, speaker, and consultant based in Ventura, California. He holds an undergraduate finance degree from the University of Colorado and an MBA in finance from the University of Denver. After working as a bank manager and then nearly a decade in corporate finance and accounting, Eric left the corporate world for full-time online self-employment. His work has been featured in online publications including Business Insider, Nerdwallet, Investopedia, The Balance, HuffPo, Investor Junkie, and other fine financial blogs and publications. When away from the computer, he enjoys spending time with his wife and three children, traveling the world, and tinkering with technology. Connect with him and learn more at EricRosenberg.com.