Tensor - Solana's NFT Marketplace | Ilja & Richard Wu
Jan 24, 2024
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Ilja Moisejevs, Co-founder and CEO of Tensor, and Richard Wu, CTO of Tensor, dive into the vibrant world of Solana's NFT marketplace. They discuss how Solana's unique features influence Tensor's design and user experience compared to Ethereum. The guests explore the impact of the $JITO airdrop on user engagement and trading activity. They also share insights about Tensorians, their native PFP NFTs, and tease potential future airdrops, keeping listeners on the edge of their seats with their innovative plans.
Tensor aims to capture the financial transactions involving NFTs on Solana by providing a customizable and user-friendly experience for traders.
The unique properties of Solana, such as speed and low fees, have influenced Tensor's product decisions, focusing on supporting bulk transactions and advanced financialization of NFTs.
The Tensorian NFT collection has served as a growth hacking strategy, creating a sense of identity and community among holders while attracting attention to Tensor.
Deep dives
Tensor's Vision: Becoming the Financial Stack for NFTs on Solana
Tensor aims to capture as much of the financial transactions involving NFTs on Solana as possible. By offering a modular and composable UI, Tensor provides a customizable and user-friendly experience for traders. The unique properties of Solana, such as speed and low fees, have influenced Tensor's product decisions, with a focus on supporting bulk transactions and advanced financialization of NFTs. Tensor plans to open-source and decentralize its protocols, creating a broader developer community and fostering composability with other projects. The Tensorian NFT collection has not only rewarded loyal users, but also served as a growth hacking strategy, attracting attention to Tensor and creating a sense of identity and community among its holders.
Challenges and Excitement in Building on Solana
Building on Solana has come with its own set of challenges and exciting opportunities. While Solana's faster and more functional programming model has made development smoother for Tensor, the lack of documentation has required source diving and a more low-level understanding. The Tensor team has navigated technical and commercial risks as they pioneer new concepts such as compressed NFTs and modular UI designs. However, the possibilities of Solana, its high throughput, and potential for machine-to-machine transactions are what make the ecosystem exciting. Looking ahead, Tensor plans to continue pushing boundaries and exploring new use cases on Solana.
The Impact of Solana's Ecosystem and Airdrops
The Solana ecosystem has undergone significant changes, bolstered by successful airdrops like the Geto AirDrop. The influx of new users and increased trading volumes has stressed the infrastructure of both Solana and Tensor, leading to adjustments and improvements. The impact of airdrops extends beyond the immediate distribution, helping to grow the Solana community and attract more users to the ecosystem. It has enhanced both liquidity and engagement, allowing Tensor to reward loyal users, fuel growth, and build a strong network effect within the Solana community.
The Role of Tensorians and Community Building
The Tensorian NFT collection has played a vital role in fostering a sense of community and identity among Tensor users. The collection serves as a reward for early supporters, while also acting as a growth driver by increasing brand visibility and sparking curiosity about Tensor. The community has evolved to include those aligned with the Solana ecosystem's values, pushing boundaries, and actively supporting Tensor's vision for NFTs. The concept of belonging and finding like-minded individuals in the crypto space is an exciting development that crypto and NFTs have uniquely enabled.
The Future of Solana and Tensor's Role
As Solana continues to push forward, Tensor is set to play a part in shaping its future. With multi-client rollout and advancements in throughput, Solana is primed for growth and further adoption. As Tensor focuses on open-sourcing and decentralizing its protocols, it aims to become the fundamental liquidity layer for NFTs on Solana. Encouraging composability and allowing other projects to build on top of Tensor will create strong network effects and provide opportunities for developers and entrepreneurs to contribute to the Solana ecosystem. The future of Solana and tensor promises exciting possibilities for machine-to-machine transactions, advanced financialization, and the evolution of the NFT space.
In today’s episode, David is joined by Co-Founder and CEO of Tensor, Ilja Moisejevs and CTO of Tensor, Richard Wu.
The three cover: How the different properties and foundation of Solana impact the product decisions that Richard and Ilja have made at Tensor? What are the first things that someone would notice that's different about Tensor, versus the NFT marketplaces on Ethereum? How did the $JITO airdrop impact the Tensor ecosystem? What about the Tensorians, the native PFP NFT of Tensor…who rocks a tensorian, and why?
And of course, we had to ask Richard and Ilja whether or not Tensor will be joining in on the Solana airdrop fun…you won’t believe the answer.
