Despite the current crypto bear market, the team behind Solana is making sure the cryptocurrency’s name is still on everyone’s lips. Solana recently opened its first real-world store in New York after launching its own smartphone. Here are the top reasons to keep an eye on Solana on AltCoinTrader.
Welcome to Solana Spaces
Solana Spaces is the first crypto store of its kind and provides visitors with educational content, Solana-based merchandise like NFTs and blockchain experiences. The store, situated at Hudson Yards opened its doors to the public last week and caters for blockchain beginners.
Solana Spaces claims to be “the world’s first retail and educational space dedicated to Web3.” Visitors to the store can enjoy programming services, tutorials and Solana-based on-chain experiences. They will also receive rewards for participating in some physical store activities. Furthermore, the store also features interactive art installations, crypto “lifestyle” products like t-shirts and hoodies and the Solana NFT collection. Shoppers can also get a discount if they pay using the Solana Pay app. After the successful launch of the Solana store in New York, Solana announced on Twitter they may be looking at opening additional physical locations soon.
Last month, Solana announced the upcoming launch of its smartphone called Solana Saga phone. Solana dominated the crypto market during the 2021 bull run and is known as one of crypto’s most prominent blockchains.
What is Solana?
Solana is a favorite amongst crypto investors. This year alone, the crypto has seen year-to-date inflows of $114 million. Solana is an open-source project run by Solana Foundation in Geneva. The blockchain, on the other hand was built by Solana Labs in San Francisco. In comparison to other leading crypto projects like Ethereum, Solana can process transactions faster and has significantly lower transaction fees. It was founded in 2017 and was designed to host decentralized and scalable applications. During the 2021 bull market, the price of SOL soared by almost 12 000%. It has a market cap of $66 billion and is currently the fifth-largest crypto.
Why you should buy Solana on AltCoinTrader
South Africa’s favourite cryptocurrency exchange, AltCoinTrader listed SOL back in December 2021. Here are three good reasons why you should buy Solana on AltCoinTrader:
- Solana has a very popular NFT marketplace. NFT collections like the Degenerate Ape Academy NFT that featured 10 000 3D models, were sold out in just under 8 minutes. Furthermore, one can also mint NFTs on the Solana network.
- Various new projects have come to light with the Ignition seed funding event. It also provides an opportunity for the team from Solana to meet and collaborate with other projects.
- Solana has some big-time investors behind it. For example, Andreessen Horowitz who invested in Twitter and AirBNB is also a Solana funder. Be sure to invest with the smart money.