New NFT Marketplace Fractal Launches on Solana
The platform has Twitch co-founder Justin Kan at the helm of affairs and will be a marketplace where people can buy non-fungible tokens of in-game items directly from gaming companies. It’ll also be a marketplace for peer-to-peer trading.
Justin Kan Launches Fractal on Solana
According to Kan, this platform finally gives gamers the chance to achieve that long-life dream of earning real money while playing video games. It’s also a big boost for Web3 gaming, and Kan believes this is a step towards the ownership that gamers have always wanted.
Fractal has already established some gaming partnerships, which will be announced soon, according to the company. For Justin Kan, this isn’t the first rodeo as he has been investing actively in Web3 gaming in the past few months. He recently led the $8 million funding round for Solana-based game, SynCity in November.
Why Solana was Chosen
According to Fractal, its decision to build on the Solana blockchain was premised on the platform’s high speed and low cost of transactions. Of course, Fractal isn’t the only one that sees these advantages in Solana. Other NFT and Web3 applications have also been built on Solana for the same reason.
Solanart is presently the most popular NFT platform on the blockchain and has sold out several collections such as SolPunks, Degenerate Ape Academy, Aurora, etc.
NFTs have been instrumental in the rise in the value of SOL token as the token reached an all-time high due to the secondary sale of NFTs. With the network congestion on Ethereum leading to higher fees, NFT projects are opting for Solana as it has lower entry barriers.
FTX and Lightspeed recently raised $100 million for developing the Solana gaming ecosystem FTX.US also launched a new NFT marketplace that supports Solana NFTs.