OpenSea Working on Solana & Phantom Wallet Integrations

According to images leaked on Twitter by cybersecurity researcher Jane Wong, OpenSea is developing integrations for the Solana blockchain and Phantom Wallet. The screenshots show Solana as an option under the “Chains Filter” tab (which allows users to select which blockchain they want to trade on) and a screen allowing the connection of a Phantom Wallet.

OpenSea responded to the leaked images with a “glancing eyes” emoji, which may lend credence to the claims that they are working on this technology.

Given that Solana NFTs have exploded in popularity, OpenSea’s integration of the Solana blockchain would likely be a boon to the marketplace. Recently, the total value of sales of Solana NFTs crossed $1 billion.

It could also renew the competitive race for the top Solana marketplace. Solanart and Magic Eden currently split the title. Overall, the market for Solana marketplaces is fragmented. In addition to Solanart and Magic Eden, Solsea, Digital Eyes, and others are all viable options for Solana NFT shoppers.

It would also create a competitive battle between Ethereum NFTs and Solana NFTs, which is currently at a standstill. While the Ethereum blockchain houses top collections like the Bored Ape Yacht Club, Solana NFTs benefit from a blockchain with lightning-fast speeds and low transaction costs. Minters and buyers on the Ethereum blockchain pay at least hundreds of USD for each transaction.

There is no word yet when OpenSea’s integrations will finish or when it will roll out the Solana side of the site.

For Ethereum-based NFT marketplaces, 2022 has already been a busy year of diversifying. Earlier this year, Rarible announced that it had integrated the Tezos blockchain.

If OpenSea integrates Solana, it will signal a period where the top Ethereum marketplaces have consolidated blockchains. This consolidation will create one-stop shopping centers for NFT goods, making shopping easier for NFT customers.

The simplification of the buying process could further accelerate the adoption of NFTs.