The Tensor Foundation sets the path for the TNSR token

The Tensor Foundation has laid down its planned path regarding the TNSR token in the form of a tweet. It is a growing business that backs the eponymic Solana NFT marketplace.

The foundation was set up in 2022 and, ever since, has remained in a competitive spirit with Magic Eden, an NFT site, and others for becoming the ultimate place to go for Solana NFTs. As per the data circulated by NFT explorer Tiexo, Tensor has obtained 33.495% of the NFT market share, with Solans grabbing 62.16%.

 In the Tensor Foundation’s opinion, NFTs are currently a prime community on the sidelines of the web. Shortly, NFTs will be boosting products, companies, and extensive business houses, with the trading of NFTs reaching billions.

The foundation never divulged its intentions regarding an airdrop. However, in May 2023, it declared it would carry out a Season 1 airdrop. This would allow Solana NFT collectors to claim free reward boxes in sync with their trading-related functions.

Tensor Foundation stresses the acceleration and cost-effectiveness of the Solana blockchain. From its viewpoint, it is one of the fastest and, with maximum output, necessary for the trading framework regarding NFTs and their mass acceptance.

Till now, Tensor protocols have been responsible for trading more than $2 billion worth of Solana NFTs. During the past three months, they initiated more than 70% of Solana’s NFT trade volume.

As per Tensor, they will accept the Tensor protocols and the Tensor community utilizing the TNSR as a governance token. It will also encourage an ecosystem of builders and developers wanting to witness the success story of NFTs.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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