Phantom Wallet to be integrated on OpenSea
Crypto-blogger Jane Manchun Wong posted screenshots on Twitter indicating a possible Phantom Wallet integration. Wong likely found the Solana network integration on OpenSea by reverse-engineering the platform, which shows the hidden wallet connect feature. The integration would be a big step for OpenSea to dive into a new pool of users.While OpenSea has neither officially confirmed nor denied Solana support, the platform's official Twitter account left a comment under Wong's post tagging the blogger and Phantom Wallet's official account. Earlier this year, OpenSea also confirmed that it was adding Binance Smart Chain to its platform.
Why is OpenSea looking into Solana?
OpenSea users mainly use Ethereum to buy and sell non-fungible tokens. However, due to the high fees, the NFT marketplace is now looking to offer cheaper options such as Polygon, Binance Smart Chain, and possibly Solana. The integration of Solana could also be a strategic move as a new NFT marketplace called LooksRare has recently emerged to compete with OpenSea on Ethereum.Solana-based NFTs gained popularity in the second half of 2021 as Ethereum, the most popular blockchain for NFTs, had prohibitively high transaction fees. The most expensive NFT sold on Solana was an NFT from SolanaMonkeyBusiness, a collection of 5,000 NFTs minted on the Solana blockchain. It was sold for 13,027 SOL (~$2.1 million).
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