With 5,000+ daily active users and a cumulative trading volume of US$140 million a year, this article explains the dark horse project Tensor.trade in the decentralized NFT market.

With contrarian performance in a bear market environment, Tensor.trade is particularly eye-catching in the NFT market

Tensor.trade aims to become a more efficient and user-friendly NFT marketplace than existing platforms.

Tensor.trade consists of two main parts: Tensor Trade (aggregator) and Tensor Swap (AMM protocol). It has made important improvements in user experience, providing richer information, such as K-line charts of NFT floor prices, and providing more order functions to improve users’ trading experience. Many users have stated that once they start using Tensor.trade, they are unwilling to use other NFT trading tools.

Data performance of Tensor.trade

What’s impressive is that Tensor.trade has achieved impressive results despite being at a low point in the NFT market. In more than a year since its launch, its cumulative transaction volume has reached US$140 million, demonstrating its competitiveness in the market.

In addition, Tensor.trade has attracted a large number of users. Currently, the platform has about 5,000 daily active trading users, surpassing many more famous exchanges. At its peak, Tensor.trade’s average daily trading volume was as many as the total number of traders in the entire Ethereum NFT market.

Tensor.trade product interface diagram

The success of Tensor.trade has also attracted the attention of investors. In April, the platform successfully raised $3 million, led by Place Ventures. Solana Ventures and Solana co-founders Anatoly Yakovenko and Raj Gokal also participated in the investment, showing the market’s recognition of the potential of Tensor.trade.

7 core advantages make Tensor.trade irreplaceable in the encryption market

Tensor.trade offers many unique features that make it stand out. These features make Tensor.trade the platform of choice for many NFT creators and collectors. Below we will introduce some of the features of Tensor.trade:

1. Decentralized governance: Tensor.trade’s governance model adopts the form of DAO (Decentralized Autonomous Organization). This means that the ownership and operation rights of the platform belong to its users. This decentralized governance method ensures users’ participation and decision-making rights in the development of the platform, thereby establishing a fair and transparent ecosystem.

2. Royalty-free secondary sales: Tensor.trade does not charge any royalties for secondary sales. This policy enables creators to sell their NFTs on the platform without paying additional fees or commissions. This is an important advantage for artists and creators as they are able to receive the full sale price of their works.

3. Scalability and Speed: Tensor.trade is built on the Solana blockchain, a blockchain designed for high throughput. Solana’s high speed and low transaction fees make NFT transactions faster and more cost-effective. Tensor.trade leverages these features of Solana to provide users with a seamless NFT trading experience.

4. Interoperability: The interoperability of the Solana ecosystem is gradually increasing, allowing NFT creators to build functions that interact with other applications such as DeFi (decentralized finance). This provides NFTs with more utility and potential, attracting more creators and investors.

5. Low transaction costs: The Solana blockchain’s low Gas fees make it easier for creators and collectors to participate in NFT transactions, especially when other blockchain networks such as Ethereum are experiencing high transaction fees due to high congestion, Tensor. The low cost of trade becomes an attractive feature.

6. Community driven: Tensor.trade, like many Solana projects, benefits from a strong community that actively contributes to its development. This community supports the development of the platform, providing feedback, suggestions and participation that helps to continuously improve and optimize the platform.

Tensor.trade product interface

1. Tensor Super Fan Plan: The Tensor.trade team has developed a special fan plan for its users, called “Tensorians”. This program encourages users to actively use the product, participate in community activities, and provides a series of special benefits, including rewards, special features (such as Swapsorian, Stakesorian, etc.), exclusive products, social interaction, and communication with the founding team. Tensorians are the core of the Tensor.trade community and enjoy a range of privileges that make them important supporters and participants of the platform.

Many challenges still exist, and Tensor.trade still needs to improve itself in multiple dimensions.

Although Tensor.trade has many unique features, it also has some weaknesses. As a relatively new platform, it faces challenges with liquidity and market visibility, especially when competing with traditional competitors such as Ethereum. However, Tensor.trade’s uniqueness and innovation within the Solana ecosystem have made it a highly visible player in the NFT trading field, with full potential in the future.

The rise of Tensor.Trade on the Solana blockchain represents an important development in the NFT space. The platform leverages the high throughput, low transaction fees, and community engagement of the Solana blockchain to successfully attract a broad user base, including NFT creators, collectors, and traders.

However, staying successful in the competitive NFT market is not easy. Tensor.Trade needs to focus on several key aspects in the future:

First, user experience is crucial. In order to attract more users, the platform must continuously improve the interface and transaction experience to ensure that users can use it easily and happily.

Secondly, close collaboration with the arts community will be key to success. Working closely with artists and creators and providing favorable creation and sales conditions will help the platform attract more exciting content and creators.

Third, cross-chain compatibility is an area with huge potential. By building bridges with other blockchains, Tensor.Trade can expand its interoperability and attract a wider range of users, thereby increasing the platform’s appeal.

Finally, considering launching an NFT futures trading feature could be a promising option. This will increase the depth of the market, attract more traders and speculators, and bring more vitality to the platform.

Despite the challenges, Tensor.Trade’s future is promising. The strengths of the Solana blockchain make it highly competitive in the NFT space, paving the way for the future of digital collectibles. Driven by continuous innovation and active collaboration with the NFT community, Tensor.Trade is expected to become an integral part of the Solana ecosystem and jointly shape the future of the NFT market.

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