Looking for how to buy NFT on Solana?. Multiple blockchains provide buying and selling of NFTs, but Solana has quickly stood out from the rest. The blockchain has its own tokens, uses a different method than Proof-of-work, and offers a major upgrade in fees and transactions per second. Consequently, many NFT artists, buyers, and sellers have started using the Solana Blockchain.
Therefore, today, we aim to explain how to find and buy NFTs on Solana, which are the best-supported wallets, different marketplaces, and more.
Solana’s Time To Revolutionize NFT Trading!
Solana is among the top blockchain with over 5.7M NFTs and 400 projects across Defi, NFTs, and more. It has grossed over $12 million in revenue from dApps and has generated about half a billion in NFTs secondary sales within four months (August – November 2021).
The platform has quickly gained popularity because of its high speeds plus robust security, along with low gas fees. This upgrade is because Solana uses the proof-of-history method that enables it to perform 50,000 TPS (Transactions per second) while maintaining an average gas fee of $0.00025.
On the contrary, Ethereum can conduct 30 TPS, and the gas fee can reach up to $70. Moreover, this decrease in transaction cost also allows more artists, developers, collectors, and traders to take part in the NFT revolution.
SOL is Solana’s crypto used for buying and selling NFTs on the blockchain. Currently, 260 million SOL have been circulated in the market out of 489 million. Degenerate Ape Academy and Aurory are among the top Solana projects, and many upcoming projects in 2022 will also help the platforms grow with more play-to-earn options.
How To Buy NFTs On Solana: Where To Get SOL ARTS? All You Need To Know!
Step 1: Download a Solana wallet: First, users need crypto wallets to buy NFTs on the Solana blockchain. Wallets such as MetaMask won’t work, and you can select one of the dedicated wallets from below:
1. Phantom: Available on Chrome, Brave, Firefox, and Edge as an extension, Phantom allows you to send, and receive tokens as well as swap them using the built-in DEX. Moreover, the wallet provides Web3 plus Ledger (hardware wallet) support, making it perfect for collecting NFTs.
2. Sollet: Rather than just an extension, Sollet opens as a full-page interface that allows you to buy crypto to trade Solana NFTs on the Solana blockchain. Although Sollet is in the Mainnet beta phase, it provides quick and smooth integration with other Defi protocols.
Get SOL Tokens: First, head to crypto exchanges like Coinbase or Binance and make an account. Then add the payment method like a bank account, debit card, or wire. Select Solana or SOL from the trade page, enter the amount and finalize your purchase. To send the Solana to your crypto wallet, go to your (Example) Phantom account, copy the address and paste it on the Coinbase exchange account. Fill in a few details, and the funds will get transferred.
Step 3: Pick a Marketplace: There are many Solana-based marketplaces that can be used for buying or selling NFTs with Solana. The most popular among them include:
Best Marketplaces For Buying NFTs On Solana
1. Solanart: Solanart is the biggest Solana-based NFT marketplace that has conducted over 500,000 sales. The marketplace is easy to use, fast and charges a 3% marketplace fee on the selling price per transaction.
2. DigitalEyes: Another popular Solana marketplace, DigitalEyes provides a minimal gas fee on SOL transactions and offers the option to buy from a collection or solo artists. Moreover, a Solana NFT buyer will have to pay the royalty % fee while minting and a service fee of .99%. ‘
3. Solsea: Apart from buying and selling Solana NFTs, SolSea provides different features such as rarity rank, regular updates, FTX-Pay support, and more. The marketplace charges a 3% fee per successful NFT sale. Moreover, the platform will also have its tokens in the future called The All-Art Token.
Also, see Best NFT Games To Earn Money In 2022.
Connecting Your Solano Wallet With Solana Marketplaces For Buying SOL Art.
In order to buy a Solana art, you need to connect your Solana wallet first. Phantom Wallet is one of the best for buying and selling Solana Art from SOL marketplaces ( ex. Solanart.io).
Step 1: Simply visit the website and click connect your wallet on the top right corner.
- Select your crypto wallet
- Click connect
- And finally, your crypto wallet will get linked.
Step 2: Finding a Solana NFT: Use the top search bar to find an NFT collection at Solart.io or hit explore.
- Let’s say you like Degenerate Ape Academy at Solart.io.
- Then use the side filters to narrow down the search based on attributes or type the name of a Solana NFT in the box.
Step 3: Buying an NFT on Solano: Click on the Solana NFT you want to buy, and a pop-up will open displaying its attributes, price, token details, and the option to buy or make an offer. Click on buy now, check the total cost along with the gas fee and hit buy!
All Set To Buy Solana NFTs At Low Gas!!
Solana is a cheaper and faster alternative to traditional high-cost transactions for trading and buying NFTs. Solana-based NFTs can be bought or sold at any one of the crypto wallets and marketplace mentioned above. Phantom and Sollet are the most preferred browsers, plus Solanart and DigitalEyes have a low transaction fee.
The crypto wallet you select should be based upon your requirements such as desktop, mobile, or browser, and if you already want a particular NFT from a specific Solana collection, then first check which marketplace it is on.