OpenSea Revives Solana NFT Trading Amid Network's Growing Activity

OpenSea is reviving Solana NFT trading on its platform more than four years after a failed attempt in 2022. The marketplace will allow buying, selling, and trading of Solana collections starting this week. OpenSea initially tested 165 collections during the previous beta but abandoned the project due to limited success.

The platform has undergone significant changes since then, shifting its focus from being solely an NFT marketplace to a multichain architecture with OS2. This new model aims to bring more crypto assets into one interface, including Ethereum, Polygon, and Avalanche networks.

Solana occupies a special place in OpenSea's strategy as the first non-EVM compatible network reintegrated for NFT trading since the end of its old beta. The return happens at an opportune time, with Solana experiencing increased crypto activity, reaching average fees close to 9,200 SOL per day over seven days, an increase of more than 80% in three months.