Solana NFT Market Tensor Overtakes Magic Eden In Trading Volume For The First Time

Since announcing the funding in early March and adopting the same strategy as Blur, Tensor’s transaction volume and active users have increased significantly. In April, cumulative active users reached 20,000, a new high.

Witnessed the rise of @SolanartNFT

Witnessed the rise of @MagicEden

Witnessed the rise of @tensor_hq

Witnessing the rise of @Solana pic.twitter.com/z2vVIs10RO

— Solana Sensei (@SolanaSensei) April 26, 2023

Tensor is an NFT marketplace built on the Solana blockchain (just like Blur on Ethereum), and Tensor’s first season, which kicked off September 22, 2022, ended a month and a half ago. The second season has begun as of March 6, 2023.

Tensor organizes airdrops that will reward you when you meet certain conditions to incentivize users. This season, they will reward users with new rewards, which will increase activity. Less than two weeks since Season 2 started, and Tensor is already Solana’s 2nd largest NFT marketplace (after Magic Eden). In this analysis, you will be able to observe the evolution of Tensor from all angles.

Tensor noted that there is still no tool to calculate the display of airdrop points, but users can start hunting immediately. Based on the number of points, the user will receive “secret boxes”. The reward will also be equivalent to the “rarity” of the box.

Season 2 aired in less than two months, and NFT sales on Tensor have increased tremendously. The total number of sales since Season 2 aired is more than 300% of the total sales made in Season 1.

Looking at NFT sales, Season 2’s one-week period sales also seem to be doing well. The total sales of Season 1 is equal to 41% of the total sales of Season 2. That is enough to say that Tensor will be a very thriving ecosystem in this Season 2. The number of NFT buyers in the new season has reached 268% of the total in Season 1.

At the time of massive attention, Solana’s NFT marketplace announced it had raised $3 million in a seed round led by the Placeholder investment fund, with participation from Solana Ventures, Big Brain Holdings, and MonkeVentures.

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