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

On the battlefield of the NFT trading market, a new star is quietly emerging: Tensor.trade. This decentralized NFT trading marketplace debuted in March 2023 and was founded by software engineer and entrepreneur Adam King, who has accumulated extensive experience in multiple blockchain projects. Let's take a look at the project.

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 terms of user experience, providing richer information, such as candlestick charts of NFT floor prices, and providing more order functions to improve the trading experience for users. Many users have expressed their reluctance to use other NFT trading tools once they start using Tensor.trade.

! [5000+ daily active users, a cumulative trading volume of 140 million US dollars in a year, read Tensor.trade, a dark horse project in the decentralized NFT market] (https://img-cdn.gateio.im/webp-social/moments-69a80767fe-e2038dd9c3-dd1a6f-cd5cc0.webp) Tensor.trade's data performance

Impressively, despite the trough in the NFT market, Tensor.trade has achieved impressive results. In the more than a year since its launch, it has accumulated $140 million in trading volume, showing its competitiveness in the market.

In addition, Tensor.trade attracts a large number of users. Currently, the platform has around 5,000 daily active trading users, surpassing many of the more well-known exchanges. At its peak, Tensor.trade's average daily trading volume was equivalent to as many as the total number of traders in the entire Ethereum NFT market.

! [5000+ daily active users, a cumulative trading volume of 140 million US dollars in a year, read Tensor.trade, a dark horse project in the decentralized NFT market] (https://img-cdn.gateio.im/webp-social/moments-69a80767fe-d8afad21e2-dd1a6f-cd5cc0.webp) Tensor.trade product interface diagram

The success of Tensor.trade has also attracted the attention of investors. In April, the platform raised $3 million, led by Place Ventures, with participation from Solana Ventures and Solana co-founders Anatoly Yakovenko and Raj Gokal, among others, showing the market's recognition of Tensor.trade's potential.

7 core advantages that make up Tensor.trade irreplaceable in the crypto market

Tensor.trade offers a number of unique features that make it stand out from the crowd. These features make Tensor.trade the platform of choice for many NFT creators and collectors, and below we will introduce some of the features of Tensor.trade:

1. Decentralized governance: Tensor.trade's governance model takes the form of a DAO (Decentralized Autonomous Organization). This means that the ownership and operation rights of the platform are vested in its users. This decentralized governance approach ensures user participation and decision-making power over the development of the platform, resulting in a fair and transparent ecosystem.

2. Royalty-free secondary sales: Tensor.trade does not charge royalties for any 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 price of their work for sale.

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

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

5. Low transaction costs: The low gas fees of the Solana blockchain make it easier for creators and collectors to participate in NFT transactions, especially when other blockchain networks such as Ethereum have high transaction fees due to high congestion, and Tensor.trade's low cost has become an attractive feature.

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

! [5000+ daily active users, a cumulative trading volume of 140 million US dollars in a year, read Tensor.trade, a dark horse project in the decentralized NFT market] (https://img-cdn.gateio.im/webp-social/moments-69a80767fe-65dc80f0f9-dd1a6f-cd5cc0.webp) Tensor.trade product interface

7. Tensor Super Fan Program: The Tensor.trade team has developed a special fan program for its users called "Tensorians". The program encourages users to actively use the product, participate in community activities, and offers a range of special benefits, including rewards, special features (such as Swapsorian, Stakesorian, etc.), exclusive products, social interactions, and communication with the founding team. Tensorians are at the heart of the Tensor.trade community and enjoy a range of privileges that make them valued supporters and participants of the platform.

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

While Tensor.trade has a number of unique features, it also has some weaknesses. As a relatively new platform, it faces challenges with liquidity and market visibility, especially in competition with traditional competitors such as Ethereum. However, Tensor.trade's uniqueness and innovation in the Solana ecosystem have made it a lot of attention in the NFT trading space, and the future is full of potential.

! [5000+ daily active users, a cumulative trading volume of 140 million US dollars in a year, read Tensor.trade, a dark horse project in the decentralized NFT market] (https://img-cdn.gateio.im/webp-social/moments-69a80767fe-ad793c785f-dd1a6f-cd5cc0.webp)

The rise of Tensor.Trade on the Solana blockchain represents a significant development in the NFT space. With the help of the Solana blockchain's high throughput, low transaction fees, and community engagement, this platform has managed to attract a wide range of user groups, including NFT creators, collectors, and traders.

However, it is not easy to remain successful in the competitive NFT market. There are a few key areas that Tensor.Trade needs to focus on in the future:

First and foremost, user experience is crucial. In order to attract more users, the platform must continuously improve the interface and trading 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 to provide favorable conditions for creation and sales will help the platform attract more great content and creators.

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

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 dynamism to the platform.

Despite the challenges, the future of Tensor.Trade is promising. The advantages of the Solana blockchain make it a strong competitive position 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 poised to become an integral part of the Solana ecosystem and co-shape the future of the NFT market.