When it comes to NFTs that are not residing on the Ethereum blockchain, the next network likely to come to mind is Solana, which has built up a significant NFT ecosystem of its own.
What is Solana Summer?
Solana Summer refers to a bullish narrative around Solana NFTs for this upcoming summer (2022). Supporting this idea is the fact that Solana NFTs have been doing more volume than ever, and several big projects are getting a lot of attention.
Since April, when OpenSea integrated Solana NFTs, they’ve had more visibility, and even NFT buyers who previously had no interest in Solana can’t avoid noticing Solana-based projects appearing in OpenSea’s charts.
–> Check Sams top 5 Solana NFTs for the summer of 2022 here.
Is Solana Summer a Sure Thing?
That all said, crypto markets are not in the best shape right now, and while a Solana Summer could offer a welcome break from the bear market drizzle, it’s far from certain that it will be memed into reality.
There is a caveat around Solana, too. If you dive into Solana NFTs, you will be transacting in SOL, and altcoins–including SOL–are down heavily in price at the moment. Looking at this positively, if you’re thinking in dollar terms then you can buy into SOL at an attractive price point.
The other perspective, though, is that when trading NFTs in ETH, you can be less concerned about the price of ETH itself, because it is, arguably, one of only two blue chip cryptocurrencies (along with BTC, although bitcoin maxis would disagree). This means that on a long enough time scale, we can reasonably expect its price to bounce back from the lows. In other words, ETH is a good long-term hold.
But with SOL, there is more uncertainty about what it will do in the future. This means you might feel uncomfortable holding on longer-term to an NFT priced in SOL, due to uncertainty about the underlying currency. Ultimately, though, that could be a good prompt to take action when you’re in profit. After all, a major mistake many buyers make is not cashing out gains when they should.
Useful NFT Tools on Solana
Regarding marketplaces, it’s now a good idea to compare OpenSea and the leading Solana marketplace, Magic Eden, since there will sometimes be price differences. In the Solana NFT space, Magic Eden is still the go-to marketplace.
Magic Eden also has its own launchpad for NFT projects, which is a good place to keep tabs on for new drops, and another Solana launchpad is Hydra, which is part of the Sea Shanties project.
If you want a Solana analytics tool, then a comprehensive option is NFTSoloist. This platform was founded by the co-founder of Ethereum NFT tool NFTNerds, and operates in the same ways.
Some other tools and platforms that might come in handy are Sol Sniper, for free analytics, Coral Cube, an aggregator marketplace, and Sharky, which enables peer-to-peer borrowing and lending against Solana NFTs.
Collections of Interest on Solana Right Now
Okay Bears
A recent, breakthrough drop was Okay Bears, which perhaps marked Solana NFTs taking a step up and really competing with Ethereum.
This project looks like it has staying power, and is of note because after it was released we saw, for the first time, an Ethereum-based copy of a Solana original. (Not Okay Bears, if you’re interested).
Cets on Creck
Cets on Creck is another collection that took off strongly, is very active, and looks like it can stick around long-term.
To get a sense of how the project is looking at the future, it’s interesting to note that it’s currently recruiting new talent, including a Narrative Lead, whose role includes “creating multiple storylines, taking the crekworld forward and making it more layered”.
A great thing about NFTs is that they can intersect DeFi, art, brand building, games and storytelling, and Cets on Creck is a good example of a project pushing in multiple directions.
Trippin’ Ape Tribe
Trippin’ Ape Tribe is another big project that has started strongly, the website declares that “it’s not a cult”, which makes it seem like even more of a cult, albeit an attractive and profitable one.
Like many of the better-constructed Solana projects, it looks psychedelic, cartoonish, confusing, high quality, and like something you want to be a part of, which is a powerful NFT formula.
Some more current and upcoming projects that have potential include STEPN (a move-to-earn project), Bubblegoose Ballers (created by producer Carl Jones), Shrouded Playground (working with Hydra Launchpad, intriguing design, but few details at the moment), and Oak Paradise (attracting a lot of interest, but still early).
NFT Art on Solana
If you’re interested in NFT art, you might think of Art Blocks on Ethereum, or the art-focused Tezos NFT space. However, Solana also has its own artistic communities and platforms, from which the following stand out.
Le DAO
The Le DAO community is focused on collecting and curating digital art, and supporting the Solana art ecosystem. It’s worth looking through this tweet thread of the DAO’s members, who seem well credentialed and insightful. Among the members is artist John Le, who is an influential presence, and produced the Founders Collection access NFTs for Le DAO.
Particles
Particles is a DAO that collects and fractionalizes 1/1 Solana NFT art, including work by John Le, Rupture, and Voxel Monkes. Membership can be obtained through holding one of the 1,555 Particles NFTs, which can then be staked to receive the DAO’s $OOO token.
Exchange
This is a Solana NFT marketplace that specializes in 1/1 art pieces, and is aimed at both collectors and creators. Following Exchange on Twitter is a simple place to start if you want to stay up-to-date with new art dropping on Solana.
Want to know more about Proof-of-History? Read this article where we explain all the details and benefits of Proof-Of-History with Solana.
