After collecting Layer 1 Ethereum and VeVe NFTs,  I realised that I want diversify my portfolio so in order to do that I decide to research about Solana blockchain. In this post you will see my findings.

Solana NFTs are listed on the Solana network, a fast and scalable blockchain network that handles multiple projects in DeFi, NFTs, Web 3.0 and more.

Just like Ethereum blockchain Solana is a decentralised blockchain network. It was founded in 2017 and run by Solana foundation in Geneva.


What-are-solana-NFTs-300x300 What are Solana NFTs? Are they better than Ethereum?

Attribution: The icons has been designed using resources from

How good is Solana for NFTs?

Because of Solana speed and scalability, it is a good NFT network to consider specially due to the fact that it does not require another layer to speed it up or reduce its transaction costs.

The price of its gas fees are very low. On average each transaction costs around $0.00025 (February 2022). It is also capable of doing more than 1,000 transactions per second.

In such space where NFT buyers like to trade their NFTs instead of holding for the long term being in the Solana network is a viable option.

For example, when it comes Ethereum NFTs in LooksRare marketplace, transaction fees can go to $300 (even more) and it is also a slower at processing transactions. Developers ended up making a second layer networks like in Immutable X  that does not have gas fees at all.

Right now Solana is competing with Cardano on the second largest blockchain place after Ethereum. Users who invest in Ethereum may want to diversify and in order to do that they could possibly use Solana.


Can Solana Replace Ethereum?

Given that the blockchain technology is still on its early stages, it is really difficult to know if it will actually be able replace Ethereum but let us look at why it is possible  Ethereum and why it is not with these two scenarios.


Scenario 1: it can’t replace Ethereum

Ethereum has a large market capitalisation and user-base, security, and mature platform and tools which may make it difficult to a user to consider another platform for NFTs. Here is my recent post discussing this topic.

Also, while researching I found this video from the Bitcoin Express YouTube channel discussing how $325 million was hacked from Solana network. It is an indication that anything is possible, however that doesn’t mean that the network is bad (issue was solved) and the network potential is huge.


Scenario 2: It is the Ethereum Killer

With its ability to process thousands of transactions per second and has low transactions cost, others say that it could compete and even become the “Ethereum killer”. Here is an article that discuss these assumptions.

No one knows which network is better otherwise we will all be millionaires. We are early in the space and even though Ethereum has the majority of the user-base it is still not clear whether a certain blockchain network can take over or a cross-chain environment will take place.


How do you buy Solana NFTs?

The first step to buy Solana’s token from an exchange like Binance, and then signup for a wallet like Phantom which will be your access on the marketplaces as an address through your browser.

Personally, I’ve only used MagicEden and it was a really good platform, the user interface was clear and the way they were sorting the collection was good.


Final Thoughts

Solana is a promising blockchain network. Having some of their NFTs can be good after being invested in the Ethereum network (this is not a financial advice, please do your own research).

Having said that, participating in early stages of any NFTs marketplaces is risky and it is recommended that you only use the money that you are willing to lose. All the best in your journey!



Related Posts:


Disclaimer: Above links are affiliate links and at no additional cost to you. I may earn a commission. Know that I only recommend products, tools, services and learning resources I’ve personally used and believe are genuinely helpful and relevant. It is not because of the small commissions I make if you decide to purchase them. Most of all, I would never advocate for buying something that you can’t afford or that you’re not yet ready to implement.