Tensor, Solana's blockchain-based NFT marketplace, has announced ambitious plans to issue its governance token, TNSR. This move is expected to bring a revolution in the way the NFT community interacts and transacts.
"We are on the verge of a new era, where NFTs are not only a niche community but also a key driver of products, businesses, and industries," the Tensor Foundation said in an official announcement. They believe that the number of NFT traders will increase exponentially, from thousands to billions, as this ecosystem grows.
Tensor Positive Achievement
Tensor has recorded an impressive feat by handling Solana NFT transactions of nearly $2.2 billion (around Rp34.3 trillion), a drastic increase from the trading volume of $7 million (Rp108.9 billion) in March the previous year. Since its launch in late 2022, the marketplace has become a dominant force in the Solana NFT market.
In the last 90 days, Tensor managed to facilitate more than 70% of Solana's total NFT trading volume, to the exclusion of wash trading practices. This signifies steady and significant growth, with more than $200 million (Rp3.1 trillion) of Solana NFTs traded each month between December and February, according to data from CryptoSlam.
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Solana Ventures Supports Tensor
In March, Tensor, often referred to as "Blur of Solana" aka Solana's NFT marketplace Blur, raised $3 million (IDR 46.7 billion) in an initial funding round led by Placeholder VC. This funding round was also supported by Solana Ventures as well as Solana founders Anatoly Yakovenko and Raj Gokal.
With a strong strategy and a clear vision, Tensor aims to meet the needs of Solana's NFT professional traders and position itself as the leader of the digital art market. The TNSR token is expected to strengthen Tensor's position in the development of the global NFT ecosystem.
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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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