Solana NFT Marketplace Tensor Unveils Highly Anticipated TNSR Token Launch on Coinbase

Solana-based NFT marketplace Tensor gears up for the highly anticipated launch of its TNSR token next week. Coinbase, a prominent cryptocurrency exchange, intends to list this token, further strengthening Solana's ecosystem. With a significant user base, Tensor aims to expand its market share and drive innovation in the NFT industry.

Solana NFT Marketplace Tensor to Initiate Highly Anticipated TNSR Token Launch

In a significant development within the Solana ecosystem, leading NFT marketplace Tensor is set to commence the launch of its eagerly awaited TNSR token on April 8th. This announcement coincides with the conclusion of Season 3 of Tensor's rewards system and the commencement of Season 4 with revised trading incentives.

Coinbase to List TNSR Token

Notably, prominent American cryptocurrency exchange Coinbase has confirmed that it will list the Solana-based TNSR token. While Coinbase did not specify a precise listing date, the digital asset is scheduled to debut on April 8th, aligning with Tensor's token launch timeline.

Treasure Containers and TNSR Distribution

Participants in Tensor's referral program will receive "Treasure Containers" containing TNSR tokens. According to the Tensor Foundation, all Treasure Containers accumulated during the previous three seasons of the program will become accessible for viewing and opening on April 8th.

Recognition for Staked Contributors

"Tensorians have been instrumental to Tensor protocol growth to date. As such, an extra 1% of $TNSR supply will be claimable by Tensorians that continue to be staked until the claim date," the Tensor Foundation stated on Twitter, emphasizing that this claimable allocation is in addition to any rewards earned through participation.

Tensor's Market Position and Competition

Based on data from Tiexo, Tensor boasts the highest number of active wallets among Solana NFT marketplaces, with approximately 345,000 unique wallets participating over the past 30 days. This figure significantly surpasses the tally of its rival, Magic Eden. However, Magic Eden currently holds a commanding lead in terms of trading volume, capturing nearly 60% market share in the past 30 days compared to Tensor's 35%.

Coinbase's Solana Token Listings

Coinbase has recently accelerated its listing of Solana tokens. In December, the exchange added the popular Solana meme coin Bonk (BONK). The Bonk and TNSR listings follow Coinbase's previous listings of other Solana-based tokens, such as Bonfida (FIDA) and Orca (ORCA).

Additionally, Coinbase's roadmap for upcoming Solana-based token listings includes Shadow Token (SHDW) and Neon EVM (NEON).

Wormhole Airdrop and Coinbase Support

On Wednesday, cross-bridge protocol Wormhole (W) launched an airdrop campaign for over 400,000 wallets across Solana and other chains. Coinbase announced that the exchange would also integrate support for Wormhole perpetual futures on Coinbase Global Exchange and Coinbase Advanced.

In a blog post accompanying the TNSR announcement, Coinbase stated: "Our approach is to list every eligible asset that meets our standards for legal, compliance, and technical due diligence. These standards do not consider the market cap or popularity of a project."

Conclusion

The impending launch of the TNSR token marks a significant milestone for the Tensor ecosystem. With Coinbase's endorsement and the substantial number of active wallets on its platform, Tensor is poised to further strengthen its position within the Solana NFT marketplace landscape. Coinbase's continued support for Solana-based projects solidifies the exchange's commitment to expanding its offerings in the rapidly growing blockchain ecosystem.