Welcome to this post, where we are going to see how Solanart works, the most popular NFT’s Marketplace on the Solana network, and that counts with some NFT’s sold for more than 1500 Solanas or 100.000$.
With a volume that has reached more than 2 million dollars, Solanart is a platform to buy and sell your NFT’s, although as they indicate when entering, it is still in beta. It is the largest Marketplace on the Solana network for buying and selling NFT’s, and only includes collections such as the most popular Degen Ape Academy.
At the moment, you can only buy and sell the collections that Solanart has included in its platform. Although it is a disadvantage for creators to have collections filtered, it ensures that you can buy NFT’s that have value.
What is solanart
Solanart is a full-fledged NFT marketplace based on the Solana network that allows anyone to buy or sell Solana-based NFTs.
Solanart’s goal is to help promote artists and creators by providing them with a trusted marketplace to share their art. It currently has collections such as the following and future releases:
- Degen Ape Academy
- Kaiju Cards
- Sollamas Graves and Tuco
- ApeShit Social Club
And in release the Bold Badgers and ApeXit collection. NFT’s can only be purchased with Solana, and the price is set in Solana, for example, 200 Solanas for a Degen Ape Academy NFT. At the moment there are no other currencies such as USDC to buy NFT’s. If you want to buy Solana to buy NFT’s, I recommend you to use Binance, the #1 Exchange in the world. You can create your account just below.
Currently, solanart is only compatible with the Sollet wallet, the Sollet Chrome extension and Phantom, although it is very likely that in the future you will be able to use different wallets to use the application.
If you have one of these two wallets, click on connect at the top right, confirm in your wallet and you can start buying and selling NFT’s, as well as view your wallet collection.
In case you use another wallet for the Solana network, my recommendation is to create a Phantom wallet, as it is the simplest and most intuitive, and send your Solanas from the wallet you are using to your new Phantom wallet to be able to buy NFTs. One of the main advantages of the Solana network is its price per transaction and speed. So the cost is almost 0 when sending Solana from one waller to another. In addition, in a few minutes you will have them ready to use in your Phantom wallet and buy the NFT’s you want.
In explore, we find the different collections, sorted by popularity. The operation is very similar to the Binance Marketplace or others, which launch collections of artists, and not everyone can publish their NFT.
This gives a great advantage and security for the buyer, because before publishing a collection, the platform itself has verified that it is a collection with real artists and interest, and that they meet those aspects they say, such as the total number of NFT’s that will be in the collection.
Since the last thing the platform wants is that a collection that has launched is a failure or does not meet the characteristics that are said. In explore you can find the name and a short description of each project and collection. Below you will see the new collections that have been launched and the collections that will be launched soon.
If you click on the collection you are interested in, you can find the following information. Items, owners, the price of the cheapest NFT in Floor Price, and the volume in Solana that has been traded in Volume Traded.
On the right side you can find the twitter and other social networks and website of the project to be better informed before buying any NFT. If we go down, we find the filters to filter between the NFT’s you want, such as rarity, by price or the latest listings to see at what level the prices of that collection are moving.
Finally, if we scroll down you will see each NFT that is available and for sale, with the price in Solana, and below in last, the last price that has been paid for that NFT.
How to buy
To buy a NFT, we must first connect our wallet to solanart. With the wallet connected, click on the NFT we are interested in buying. Here, we find information such as the address of the NFT owner, and you can click on view token to see all the information in the Solana explorer.
In last, if you click you can find the last buyer and how long ago it was last bought. To buy, just click on buy, and confirm in your wallet, once the transaction is done, in wallet you can see your new NFT. And from wallet you can put your NFT for sale and you will be able to see it in My NFT’s For Sale.
To sell the NFT you have purchased, connect your wallet with the “Connect Wallet” button in the top right corner. We recommend using Phantom for its phenomenal user interface and features.
Click on the “Wallet” tab and you should now see the NFTs you can put up for sale.
Click “Sell” and add a description (maximum 50 characters).
Enter the price in SOL at which you wish to list your NFT. Remember not to use a comma or period to separate the thousands (i.e. if you want to sell your NFT for 2000 SOL, enter “2000” and not “2,000” or “2,000”).
Click on “SELL”, confirm the transaction in the pop-up window of your wallet and wait a few seconds for the transaction to go through. This way, you will have your NFT for sale.
The platform charges a 3% market commission on the selling price of each transaction. A creator’s fee, which varies depending on the collection, is also charged on the sale price and is collected in full by the artist.
Please note that there is a 0.02% ad fee to avoid excessive ads (0.02% of the ad price). Make sure you have enough SOL to cover the transaction and listing fees before listing your NFT for sale. To avoid listing NFTs at exorbitant prices.
I hope it has helped you to learn more in detail about the #1 Marketplace on the Solana network. If you don’t have an account with binance, you will be able to create one just below.