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.
Disclaimer: The Block is an independent media outlet providing news, research and data. Since November 2023, Foresight Ventures has been a majority investor in The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to provide objective, impactful and current information about the crypto industry. Here is our current financial information.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.