All You Need To Know About the Sniper NFT Marketplace

The Sniper NFT marketplace is a platform that caters to the demands of NFT creators and collectors. It was established as a hub for collectibles, digital art, and more, allowing users to interact with the NFT marketplace in various ways.

Despite its humble beginnings, Sniper’s unique features and functionalities have enabled it to impact the NFT ecosystem. What sets Sniper apart from other NFT marketplaces, and what can we learn about its history?

What is Sniper?

Sniper is an advanced NFT marketplace built on Solana. Its use of the Solana blockchain enables Sniper to offer a fast and precise platform for NFT trading, and it claims to be Solana’s fastest NFT marketplace. Users get automated order execution, real-time data, and fast trading speeds when they use Snipper.

Sniper’s primary offerings include providing an order-book trading style and intuitive trading and charting tools, creating a platform encouraging partnerships for NFT creators and collectors, and building a community of NFT enthusiasts on social media platforms such as Discord and Twitter.

Users can explore various NFTs created by artists and creators worldwide. The platform allows everyone to showcase their work and offers features like auctions, fixed-price listings, and community engagement tools.

Sniper’s live feed provides the best prices, improving users’ trading experience. Through its user-friendly interface, Sniper attracts and empowers artists to monetize their digital creations. Sniper’s NFT market cap has peaked at 81.2m SOL.

Sniper’s Background Story

Sniper’s mission is to be the premier NFT marketplace that drives innovation. The idea to create Sniper was born in December 2021. It was initially known as Sol Sniper, owing to its connection to Solana. Later, it was rebranded to Sniper to accommodate a broader audience and for universal appeal.

Since its transition, Sniper has continued to garner strategic partnerships and collaborations, enabling it to position itself as a leading NFT marketplace that encourages creativity and innovation.

Team

Sniper is a private company with six individuals forming its core team. The core team consists of the CEO, the CTO, the Backend Lead, the Frontend Lead, a Creative Lead, and the Marketing Lead.

Here are the Twitter handles of the Sniper team:

• CEO - https://twitter.com/0xmaz
• CTO - https://twitter.com/0xsolis
• Backend Lead - https://twitter.com/0xRyaNg
• Frontend Lead - https://twitter.com/jollybrowncow1
• Creative Genius - https://twitter.com/nuocpapi
• Marketing Lead - https://twitter.com/Jarrad_sol

Partnerships and Funding

In the first week of March 2024, Sniper partnered with OKX to allow users access to NFT listings on the OKX NFT marketplace. The Sniper x OKX integration enabled users to access the best prices when trading Solana-based NFTs.

Sniper has raised approximately $6 million in funding. Sniper’s ability to raise such financing strengthens its market position and boosts investor confidence. Sniper is funded by three significant investors: Infinity Ventures Crypto, Foresight Ventures, and FTX Ventures. Sniper raised $5 million from Infinity Ventures Crypto alone.

The Sniper NFT Marketplace

The Sniper NFT marketplace connects buyers and sellers to trade NFTs. Users buying and selling on Sniper can earn points and are also eligible to earn more from Magic Eden and Tensor.

Sniper also allows users to list their NFTs on Sniper Marketplace, Magic Eden, Tensorswap, Okx, and Hadeswap. The platform also aggregates all listings and bids from all marketplaces because it displays listings based on on-chain data. Sniper is the only marketplace where you can purchase NFTs using SPL tokens.

Users can also access free advanced trading tools, such as Tradingview charts, which they can use to analyze NFT collection trends and chart patterns, helping them find trading opportunities. Sniper is the first platform to offer candlestick charts NFT trading.

The Sniper Dashboard

The Sniper dashboard may look daunting initially, but its many features make it unique. From the menu tabs on the dashboard, you see features like Browse, Trade, Portfolio, Rewards, Terminal, Live Feed, Market Overview, Sniper Bot, and more. Let’s explore some of these features and see what they offer.

Browse

‘Browse’ introduces you to the Sniper platform. Here, you can search for any NFT collection using the search button at the top left corner. You can also find trending and popular NFT collections. If you find any collection that interests you, you can add them to your watchlist.

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When you click on an NFT collection, you can view its details, such as its floor price, top bid, volume, supply, and holders.

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By default, the prices of each NFT are displayed in SOL; however, you can change them to USDC or ISC.

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Trade

The ‘trade’ section lets you view available listings, place bids, or buy any NFT you want. You can also list your own NFT collection in this section. Remember to connect your Solana wallet to use the ‘trade’ feature to buy, list, or bid. You can connect to Sniper by connecting your wallet, as shown below.

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Portfolio

The portfolio menu allows users to gain control of their accounts. Your wallet must be connected to the platform to use this feature. Once you have connected your wallet, you can manage your assets from this section. You can access four portfolio views from this section. You can see the total number of assets, your wallet’s estimated value, your collections, and the NFTs you may have listed.

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If you have had any activities in your wallet, you can keep track of them here. Through the ‘analytics,’ you can also gain insights into how your wallet address has performed through any duration you set. You can export the result as a CSV document to help you analyze your trading activities and see how you improve.

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Rewards

You can earn rewards by participating in tasks to claim coins and XP. Sniper uses XP to reward users for performing tasks and claiming points. This reward system encourages users to keep interacting with the Sniper platform and drive the community.

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You can also view the leaderboard for wallet rankings and the XP rewards earned.

Terminal

You can get more comprehensive live analytics about NFTs from the Terminal. You can configure the feed settings to view listings and buys of NFTs from various marketplaces other than Sniper Market, such as Magic Eden, CoralCube, and Tensorswap.

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Making money on Sniper becomes more accessible through the Terminal menu. You can view and participate in all bids on NFTs. You see the amount the seller receives, the NFT quantity, and the bidder’s wallet address.

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Live Feed

The live feed feature is only available on Sniper. It provides real-time data on list prices, sales, floor prices, buys, and listed and delisted NFTs. This tool helps you gain insights into market metrics, allowing you to make informed trading decisions.

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You can also keep track of your favorite NFTs by applying filters to streamline the feed you get. You can set the name of the NFTs you want, the event types, prices, marketplaces, and collections.

You can set price alerts by turning on and configuring the bell icon so you do not miss anything. To benefit, you must be a Sniper Discord community member to get the price alerts, which will be delivered as direct messages on Discord.

The Sniper Bot

The Sniper Bot is an automated trading bot designed to help you execute trades. The bot executes these trades as long as they meet the criteria that the user has inputted in its settings. The Sniper can be an excellent option if you are not always active.

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Additionally, using the trading bot eliminates the likelihood of emotions interfering with trading, which can impede trading success. The Sniper Bot executes trades precisely and is not affected by human emotions, making it a preferable option.

How Does the Sniper NFT Marketplace Work?

Bids

The sniper marketplace has a unique bidding model that optimizes the trading experience for NFT fans. This model is the Central Limit Orderbook (CLOB) model. Buy and sell order limits can be placed and automatically matched on a first-come-first-serve basis.

This implies that NFT traders can execute faster trades and benefit from arbitrage opportunities. Hence, a trader can place a buy limit for an NFT of 1 SOL and a sell limit of 2 SOL in a collection bid, and a profit of 1 SOL can be made almost immediately. Interestingly, Sniper bids can be executed against listings on any NFT market.

Methods of Payment

NFTs can be paid for with the SOL token. Interestingly, the Sniper marketplace also supports tokens with the Solana Program Library (SPL) standard. Sniper is the only NFT marketplace that currently offers this option.

Payment is seamless on the Sniper marketplace. Once your wallet is connected, you can utilize SOL or other available SPL tokens for transactions.

Benefits of Using Sniper

Flexible Transaction Options

Sniper offers various transaction options, such as auctions or bids, fixed-price listings, and direct sales. This flexibility allows users to choose the best method that suits their preferences and needs.

Focus on User Experience

Sniper prioritizes user experience, which enables it to create a user-friendly interface and intuitive navigation through its dashboard. The platform is also free to use, making it easy for users to discover, purchase, and manage their NFTs.

Leverages on Solana’s Speed on Efficiency

Because the platform is built on the Solana blockchain, Sniper can offer faster transaction speeds than other marketplaces built on different chains.

Advanced Features

Sniper offers unique features not found anywhere else, such as the Live Feed, Sniper Bot, and advanced trading tools.

Disadvantages of Using Sniper

Dependence on Solana

Although Solana boasts faster transaction speeds, it is not a widely preferred ecosystem by many users. Some users may prefer other blockchain ecosystems, limiting the potential audience Sniper could have.

Conclusion

The sniper NFT marketplace stands out for its user-friendly interface, fast transaction speeds, and innovative features like the Live Feed and Sniper Bot. Sniper has become a go-to platform for NFT creators and collectors because of its focus on user experience and flexibility in transaction options.

Although Sniper is still relatively new, it can set the pace for other NFT marketplaces in terms of offerings and innovation.