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OpenSea Introduces Solana NFT Launchpad

NFT

www.thecoinrepublic.com 23 July 2022 21:52, UTC
  
Reading time: ~2 m

  • The first project to use the capability, Zoonies, made its premiere yesterday on OpenSea’s new Solana launchpad.
  • Some of the NFTs sold are listed below the 2.5 SOL ($109) public mint price.
  • Less than 5,000 of the 8,888 Solana NFTs have been issued as of this writing.

A Solana NFT Profile Image Project

OpenSea just released its new launchpad capability for creating new Solana NFT projects, maybe to compete with competitor Magic Eden’s feature set. The maiden drop of the main NFT marketplace on the launchpad, however, has not exactly been a roaring success.

The first project to use the capability, Zoonies, a Solana NFT profile image project with an extraterrestrial theme, made its premiere yesterday on OpenSea’s new Solana launchpad. A launchpad is a feature that both Magic Eden and the gaming-focused Solana marketplace Fractal have had available for some time. It enables collectors to mint (i.e., create and buy) NFTs during the main sale.

The Slow Start

However, more than a day has passed since the OpenSea Zoonies was launched, and the project still hasn’t sold out. Less than 5,000 of the 8,888 Solana NFTs have been issued as of this writing. The public auction kicked off Wednesday at 7 p.m. ET after the whitelist sale started at 12 p.m. ET. On OpenSea’s secondary market, where the least expensive objects in the collection are offered as low as 1.97 SOL (approximately $86), some of the NFTs that have been sold are now listed below the 2.5 SOL ($109) public mint price.

Zoonies’ slow start is not unusual in the present NFT bear market, but there aren’t any other Solana NFT debuts on OpenSea to compare it to. The head of content and marketing at Magic Eden, Tiffany Huang, revealed to Decrypt that some of its most recent Solana NFT mints had also not sold out. She added that we haven’t recently sold out of some of our launchpad collections due to the market, but we take great care when evaluating initiatives. To “demonstrate our dedication to releasing the greatest projects,” Huang continued, Magic Eden recently changed its rules.


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