Tensor (TNSR): Marketplace for Solana NFTs Launched its Own Coin

In the NFTs crypto sector, Solana (SOL) is one of the three ecosystems that divide the market among themselves. Trading platform Tensor is a leader in Solana NFTs and has now launched its own cryptocurrency, TNSR.

Data services measured a $250 million market cap on day one for Tensor (TNSR) and a trading volume of over $1 billion. These are numbers that express: Tensor is not a gray mouse, but the star of the day. The origin story of the Solana project is a topic that provokes shaking of heads outside of the crypto scene. It’s about NFTs, i.e. digital art and collectibles that, on the one hand, move a lot of money worldwide – and, on the other hand, rarely demonstrate their deeper meaning and purpose.

Dozens of crypto ecosystems are experimenting with NFTs, and Solana (SOL) is long past the early stages. Tensor has been gathering more than 70 percent of Solana NFT trading on its platform for some time, giving it a similar market dominance to Blur for Ethereum (ETH) -based NFTs. Since February 2023, the Ethereum ecosystem has had its own cryptocurrency, BLUR, and since yesterday there has also been one for Tensor, TNSR. But what is this actually good or necessary for?

On​​ Governance tokens are what the concept is called in the crypto world, digital ballots. In the Tensor case, TNSR also includes fee discounts when trading Solana NFTs and the financing of security checks. Anyone who has already bought and sold Solana NFTs at Tensor will now receive TNSR for free. With a similar idea a year ago, Blur quickly pushed the previously leading NFT marketplace OpenSea to the sidelines.

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Conclusion: Solana NFTs and Tensor – more than a community of convenience?

Anyone interested in NFT markets cannot ignore the CryptoSlam data service. In addition to Solana and Ethereum, Bitcoin (BTC) is included in the concert of the three major ecosystems; the lead over the competition is huge for the three.

TNSR at Tensor is a customer retention method that has already proven successful at BLUR . But BLUR’s price curve has developed little momentum since the early days and whether things will be different for Tensor remains to be seen in the coming weeks and months.

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(Featured image by sergeitokmakov via Pixabay)

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