Quick take:
- Solana NFTs will soon appear on Rarible.
- The platform has also announced a custom marketplace for Degenerate Ape Academy.
- The Degenerate Ape Academy marketplace will support its related NFT projects.
Rarible announced on Thursday that it has integrated Solana as part of its multi-chain expansion. This came after leading marketplace OpenSea’s Solana support went live last week.
The power of @solana. Now on @raribleprotocol.
— Rarible (@rarible) April 14, 2022
Welcome @DegenApeAcademy to the @rarible fam! Your new community marketplace is looking goooood. 👀👇
Joining Ethereum, Tezos, Flow, and Polygon, which was integrated a month ago, Solana NFTs will appear on Rarible’s marketplace in the coming weeks.
Alongside the announcement of the addition of Solana, Rarible also announced that it has created a custom marketplace for the popular Solana NFT project, Degenerate Ape Academy (DAA).
The platform, named Degeniverse, runs on Rarible’s white-label marketplace technology. Not only will the marketplace support DAA, but it will also support DAA’s related projects including Degenerate Trash Pandas and Degenerate Ape Kindergarten. A percentage of sales from Degeniverse will automatically go to the Degen DAOO.
Rarible CEO and co-founder Alexei Falin told Decrypt last November that the Solana integration was on the platform’s roadmap and was being developed internally.
With lower gas fees and faster transaction speed, Solana has been having its moment in the NFT and blockchain gaming space lately. A growing number of Web3 platforms and NFT marketplaces are integrating the network.
Leading Solana NFT marketplace Magic Eden raised $27 million last month while total sales on Solana have surpassed $1.6 billion this month. Other notable projects built on Solana include DeGods and metaverse platform, Portals.
The web browser Opera recently integrated Solana and is working with the blockchain to integrate the Opera Wallet.
Despite OpenSea adding support for Solana NFTs, it did not make much of a dent in Magic Eden’s trading volume. Over the last seven days, Magic Eden processed a total of 673,788.23 SOL worth of transactions while OpenSea saw only 9,604.34 SOL worth of NFTs being traded.
According to Dune Analytics data by “brownboy”, Magic Eden holds 96.9% of Solana market share by transaction count over the last seven days.
With the good news of Rarible’s Solana integration also came some bad news. Cyber threat intelligence firm, Check Point Research (CPR), published a blog post yesterday saying that it has identified a security flaw in Rarible which would have “enabled a threat actor to steal a user’s NFTs and crypto tokens in a single transaction.”
The findings were immediately disclosed to Rarible, which acknowledged the flaw and fixed the issue.
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