How to buy NFT on Solana?

How to buy NFT on Solana? – Mail Bonus

The growing popularity of inflexible tokens (NFTs) has led to issues such as excessive transaction fees and congestion in the prevailing Ethereum-based ecosystems. The fee factor serves as a great deterrent for anyone who wants to trade on a blockchain.

A report published by Reuters revealed that NFT’s sales volume was 24.9 billion dollars in 2021, well over 94.9 million dollars in 2020. The number of wallets traded with NFT increased to about 28.6 million, from a modest 545,000 in 2020 Recently, when the boredom of Ape slaughtered NFTs, the gas tax went up to $ 3300, which shows an insight into how bad the cost was on Ethereum (ETH).

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Solana (SOL) has emerged as a prominent competitor to Ethereum and delivers remarkably better results in two key metrics, speed and transaction costs, thanks to an innovative Proof-of-History (PoH) timing system along with Proof of Object (PoS) protocol protocols.

In this article, we will discuss the advantages that Solana has over other blockchains and marketplaces as well as how to buy NFT on Solana.

Advance Solana

This blockchain clocks block time (0.4 seconds) and block size (20,000 trades) compared to Ethereum (block time: 13 seconds, block size: 70 trades) which makes the network an incredibly low gas charge of only $ 0.00025 per transaction.

The advent of solutions like Solana allows buyers to buy NFT with an insignificant transaction fee or few congestion. This almost means that Solana or SOL NFT are more accessible than those on Ethereum.

In the second half of 2021, the price of Solana NFTs began to rise. A Degenerate Ape NFT sold for about $ 1.1 million in September 2021, making it the first $ 1 million NFT sale on the Solana network. In October 2021, the Solana Monkey was sold for $ 2 million.

Solana NFT Marketplace

If you are wondering where you can buy Solana NFT, marketplaces are the answer. All NFT-related activities such as currency trading, buying, selling and trading take place in specific marketplaces. It’s just like ordinary cryptocurrencies, controlled through stock exchanges and cryptocurrencies. OpenSea is the most popular NFT market on Ethereum.

SolSea, Solanart and DigitalEyes are three prominent marketplaces that support Solana NFT. SolSea allows authors to select and retrieve their licenses while creating an NFT. At Solanart you can find, collect and trade with NFT. DigitalEyes is a popular platform with museums like Solana Monkey Business and Freight.

How to buy Solana NFT

Busy thinking about how to buy and sell Solana NFT? Buying NFT on Solana involves a number of steps, as explained below:

Get yourself a Solana wallet

The first step you need to take is to get a wallet based on Solana. Two better known wallets are SolFlare and Phantom. Advanced users can use Sollet, an open wallet. Each of these NFT marketplaces has billing, fees and terms that you need to consider. So you need to do adequate research at your end before committing to your funds.

Create a new wallet on the solution of your choice and connect it to the Solana Marketplace of your choice. The Marketplace website will guide you through the process.

Important to remember, do not try to do anything on Solana through Metamask, a popular wallet on Ethereum, otherwise your SOL will disappear forever as MetaMask does not recognize SOL tokens. Phantom is Metamask by Solana Network.

Get SOL coins

You must use SOL cryptocurrency on Solana NFT systems, just as you use ETH on the Ethereum market. SOL coins are for sale on various stock exchanges. A typical process involves linking your fiat account to the stock exchange, transferring funds and purchasing the required SOL amount. You will need to return this SOL to the address of your wallet.

For safety, take what you need to buy NFT. For example, if NFT is available for 15 SOL, you can withdraw the exact amount along with the transaction fee required. Alternatively, you can convert your stablecoins to SOL in exchange and transfer the currency to the address of your wallet.

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Develop a strategy

When it comes to NFT investing, there is no single strategy. According to your goals, you must bring your own. Collectibles are in demand as well as works of art, achievements and other assets related to celebrities as they help fans feel connected to them. For someone who is interested in games, there are plenty of NFT images of sports stars or game memories to make them feel good and earn money.

While buyers are investing their money to make a profit, you may also want to ensure that your investments are in line with your interests. Someone who enjoys playing games will definitely want NFT straight from a popular game, probably the NFT prize. And if you like spending time in metavers, you might want to get one from someone you just love to jump on.

Finding what is popular in the Solana market will help you find the items that are most likely to achieve maximum traction. If you are not very used to the NFT world, this will help you get a feel for the NFt world.

Buy NFTs

Whichever platform you choose, you may want to check out the latest or most popular NFT images. Go through as many museums as you can before you make a decision. If you want to keep costs low, put this criterion in the filter when searching for the best Solana NFT devices.

Just click on NFT and go through the available information about the project. Get information about who owns the NFT, the price and the offer you will make once the wallet connection has been set up.

Solanart, the most stable NFT online marketplace, takes about 20 seconds from start to finish and costs less than half a dollar. The price history of all the museums is available on the marketplace. The Solana NFT marketplace may still be nowhere near OpenSea, which has been around since 2017, but they are recovering soon.

Update your wallet

On most wallets you will find the Buy button that you need to click on. The wallet will then usually seek approval for the purchase. It will show you the amount you are going to spend as well as the transaction fee you will incur. Once you have approved and made the purchase, you can see them live in the relevant section. On the Phantom wallet, for example, it is transferred to the collection section.

The process is quite simple and you should have no trouble completing the transaction after transferring SOL to your wallet. The reason for the growing popularity of Solana platforms is that they are simple to use.

The days ahead

The NFT revolution has just begun and there are still miles to go. As the ecosystem develops, more marketplaces will emerge. We can say with certainty that these marketplaces will be better than the current plot. User interfaces will be leading and more diverse features will be available, which will improve the user experience.

As the Solana community evolves over time, the number of NFT buyers will also grow, providing ample opportunity for the growth potential of your NFT values. Make sure you buy each SOL NFT only after thinking it through and you should do well.