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With the release of the TNSR token, Tensor Foundation aims to strengthen innovation and governance in the Solana NFT ecosystem.
Enabling more than $2 billion in NFT transactions, Tensor’s protocols on Solana exhibit unmatched efficiency and scalability.
In order to move NFTs from the periphery to the forefront of Web3 innovation, a community of creators and builders is expected to be inspired by the TNSR token.
The Tensor Foundation, which was recently founded to assist the Tensor NFT marketplace in Solana, has revealed its plans for the TNSR token. These plans seek to influence the platform’s governance as it anticipates a future driven by non-fungible tokens, or NFTs. Tensor, which debuted in 2022, has grown to be a prominent participant in the Solana NFT ecosystem and is fiercely vying for market supremacy with sites like Magic Eden. According to data from NFT explorer Tiexo, Tensor currently holds a significant 33.49% of the NFT market share, sitting inside Solana’s overall 62.16% share.
Introducing $TNSR – the future of NFT trading.$TNSR will govern Tensor protocols that have already traded over $2bn worth of NFTs on the fastest, most scalable blockchain – Solana. pic.twitter.com/eff2IxGOwr
— Tensor Foundation (@TensorFdn) March 12, 2024
With Solana’s reputation for speed and scalability, Tensor’s protocols have already facilitated transactions worth over $2 billion in the growing NFT field. The introduction of the $TNSR token represents a significant step towards building a strong governance framework for these protocols.
The Tensor Foundation emphasized the disruptive potential of NFTs, seeing them as accelerators for innovation across industries rather than just a specialized endeavor. Tensor intends to cultivate an inclusive community of creators and builders dedicated to the progress of NFTs within the Web3 landscape, and it seeks to incorporate the TNSR token into its ecosystem.
The Foundation previously carried out a “Season 1 airdrop” in May, giving Solana NFT collectors the chance to claim reward boxes based on their trading activity. This shows that the Foundation is committed to interacting with its user base, even though it did not specifically mention a TNSR airdrop in its most recent announcement.
Tensor emphasized Solana’s blockchain capabilities and emphasized that it is essential for wider adoption because it facilitates effective and affordable NFT trading. The Foundation further cemented its place in the ecosystem by revealing that Tensor protocols have accounted for the majority of Solana’s NFT trading activity in recent months.
In the future, the Tensor Foundation sees the TNSR token serving as a composability and Web3-aligned catalyst for collaborative innovation, in addition to serving as a governance tool.
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