Discover the latest updates on Tensor Foundation's TNSR token and its role in revolutionizing Solana NFT trading. Explore the future of NFTs and the impact on Web3.
The Tensor Foundation, a fresh entity backing the renowned Solana NFT marketplace of the same name, unveiled its roadmap for the TNSR token via a series of tweets on Tuesday. This announcement garnered traction with a retweet from Tensor's official Twitter handle."
"Since its inception in 2022, Tensor has been engaged in fierce competition to establish itself as the premier hub for Solana NFTs, contending notably with NFT giant Magic Eden and other platforms. According to statistics from NFT explorer Tiexo, Tensor presently commands a market share of 33.49% in the NFT realm, contrasting with Solana's 62.16%."
"Introducing $TNSR - shaping the future of NFT trading. $TNSR is poised to govern Tensor's protocols, which have already facilitated transactions exceeding $2 billion in value on Solana, the fastest and most scalable blockchain."
— Tensor Foundation (@TensorFdn) March 12, 2024
"'NFTs, once confined to a niche community on the outskirts of the internet, are set to become the driving force behind products, enterprises, and entire industries,' asserted the Tensor Foundation account. 'The community of NFT traders will evolve from thousands to billions in the coming era.'
"At the time of reporting, Tensor had not responded to Decrypt's request for commentary."
"While the Foundation made no mention of plans for a TNSR airdrop, it had previously announced a 'Season 1 airdrop' last May, offering Solana NFT collectors the opportunity to claim complimentary reward boxes proportional to their trading activity."
"Emphasizing the swift and cost-effective nature of the Solana blockchain, the Tensor Foundation hailed it as one of the few chains possessing the necessary throughput, speed, and low fees crucial for NFT trading infrastructure and crucial for widespread adoption."
"'To date, Tensor's protocols have facilitated transactions exceeding $2 billion in value for Solana NFTs,' disclosed the Tensor Foundation. 'In the last 90 days alone, they facilitated over 70% of Solana's NFT trading volume (excluding wash trading).'"
"The Tensor Foundation announced its intention to embrace the Tensor protocols alongside the Tensor community, utilizing TNSR as a governance token."
"'In addition to overseeing the essential infrastructure, the Tensor Foundation aims to cultivate an ecosystem of creators and developers committed to the success of NFTs,' stated the Tensor Foundation. 'Web3 thrives on collaboration — and collective progress.'"