Solana SOL
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NFT market Tensor introduced it would problem a governance token.
In a post to X, Tensor Basis teased issuing the TNSR token, although with out offering many particulars. “NFTs at the moment are a distinct segment neighborhood on the fringes of the online. NFTs tomorrow will energy merchandise, companies and whole industries. NFT merchants will go from hundreds — to billions,” the group mentioned on Tuesday.
Tensor additionally mentioned it has dealt with almost $2.2 billion in buying and selling quantity for Solana NFTs. That is greater than $2 billion in further buying and selling in comparison with the mere $7 million in NFT quantity Tensor mentioned it had overseen as of final March. {The marketplace} launched in late 2022.
“So far, Tensor protocols have traded over $2 billion value of Solana NFTs. Within the final 90 days they facilitated over 70% of Solana’s NFT buying and selling quantity (wash buying and selling eliminated),” Tensor Basis additionally mentioned in Tuesday’s publish.
Buying and selling volumes for Solana NFTs, which have all the time trailed far behind these for non-fungible tokens minted on Ethereum, have elevated steadily since late final 12 months. Greater than $200 million value of Solana NFTs traded arms every month between December and February, in keeping with CryptoSlam! data.
‘Blur of Solana’
Final March, Tensor, which branded itself as “the Blur of Solana,” introduced it had raised $3 million in a seed funding spherical. Placeholder VC led the spherical, which additionally included Solana Ventures and Solana co-founders Anatoly Yakovenko and Raj Gokal.
The thought behind Tensor labeling itself as “the Blur of Solana” was a part of a method to place its market as one which caters to professional merchants of Solana NFTs.
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About Writer
RT Watson is a senior reporter at The Block who covers a wide selection of matters together with U.S.-based firms, blockchain gaming and NFTs. Previously lined leisure at The Wall Avenue Journal, the place he wrote about Disney, Netflix, Warner Bros. and the creator economic system whereas focusing totally on technological disruption throughout media. Earlier to that he lined company, financial and political information in Brazil whereas at Bloomberg. RT has interviewed a various forged of characters together with CEOs, media moguls, prime influencers, politicians, blue-collar staff, drug traffickers and convicted criminals. Holds a grasp’s diploma in Digital Sociology.