Solana GROUND
+3.81%
In a post on, Tensor Foundation teased the issuance of the TNSR token, but without providing many details. “NFTs are a niche community on the fringes of the web today. Tomorrow’s NFTs will power products, businesses and entire industries. NFT traders will grow from thousands to billions,” the organization said Tuesday.
Tensor also said it processed nearly $2.2 billion in transaction volume for Solana NFTs. That’s more than $2 billion in additional transactions compared to just $7 million in NFT volume that Tensor said it oversaw last March. The marketplace launched in late 2022.
“To date, Tensor Protocols has traded over $2 billion worth of Solana NFTs. Over the past 90 days, they have facilitated over 70% of Solana’s NFT trading volume (wash trading removed),” he said. also said the Tensor Foundation in Tuesday’s post.
Trading volumes for Solana NFTs, which have historically lagged far behind those of non-fungible tokens issued on Ethereum, have increased steadily since late last year. More than $200 million worth of Solana NFTs traded each month between December and February, according to CryptoSlam! data.
“Solana Blur”
Last March, Tensor, which billed itself as “the blur of Solana,” announced that it had raised $3 million in a seed funding round. Placeholder VC led the round, which also included Solana Ventures and Solana co-founders Anatoly Yakovenko and Raj Gokal.
The idea behind Tensor calling itself “the blur of Solana” was part of a strategy to position its marketplace as one for professional Solana NFT traders.
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About the Author
RT Watson is a senior reporter at The Block covering a wide range of topics including US-based businesses, blockchain gaming and NFTs. Formerly covered entertainment at the Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while primarily focusing on technological disruption in media. Previously, he covered Brazilian economic, economic and political news at Bloomberg. RT has interviewed a wide range of characters, including CEOs, media moguls, high-profile influencers, politicians, blue-collar workers, drug dealers and convicted felons. Holder of a master’s degree in Digital Sociology.