Tensor NFT Marketplace Reveals Solana Token Launch, Coinbase to List

Solana NFT market Tensor plans to launch its long-awaited TNSR token subsequent week, and main American cryptocurrency trade Coinbase mentioned Friday that it plans on itemizing the incoming Solana-based token.

Whereas Coinbase didn’t specify when the TNSR token can be listed, the digital asset is scheduled to launch on April 8. The TNSR launch will coincide with the tip of season 3 of Tensor’s rewards program and the beginning of season 4 buying and selling incentives.

Contributors within the referral program, the Tensor Basis mentioned on Twitter, will obtain “treasure containers” that can comprise TNSR tokens. In response to the Tensor Basis, all treasure containers from the preliminary three seasons of this system will probably be viewable and will be opened on April 8.

“Tensorians have been instrumental to Tensor protocol development so far. As such, an extra 1% of $TNSR provide will probably be claimable by Tensorians that stay staked till the declare date,” Tensor Basis mentioned on Twitter, including that this claimable provide is along with any allocation earned by way of factors.

Tensor has probably the most energetic wallets of any Solana NFT market, based on information from Tiexo, with about 345,000 distinctive wallets over the past 30 days. That’s greater than double the tally of rival Magic Eden—however Magic Eden has taken a commanding lead lately when it comes to buying and selling quantity, with almost 60% market share within the final 30 days in comparison with 35% for Tensor.

Coinbase has lately ramped up its itemizing of Solana tokens. In December, Coinbase listed the wildly standard Bonk (BONK) Solana meme cash. The Bonk and TNSR listings adopted Coinbase itemizing different Solana-based tokens, Bonfida (FIDA) and Orca (ORCA).

On Coinbase’s roadmap of upcoming Solana-based token listings are Shadow Token (SHDW) and Neon EVM (NEON).

On Wednesday, cross-bridge protocol Wormhole (W) opened an airdrop marketing campaign for greater than 400,000 wallets throughout Solana and different chains. Coinbase introduced the trade would even be including help for Wormhole perpetual futures on Coinbase Worldwide Change and Coinbase Superior.

“Our purpose is to record each asset potential that meets our requirements for authorized, compliance, and technical safety. These requirements don’t have in mind the market cap or recognition of a venture,” Coinbase mentioned in a weblog submit shared with the TNSR announcement.

Edited by Ryan Ozawa.