With the expansion of the cryptocurrency market and new blockchain networks, everyone wants to know more about the best upcoming Solana NFT projects in 2022. There is a large number of projects that are currently developing new and interesting NFT ideas that could take off in 2022 and the next few years.
The goal of this post is to share with you all the latest information about the top upcoming Solana NFT projects. This will give you a clear idea of what you can expect from different NFT initiatives. Solana has many advantages compared to other blockchain networks and this can be seen in the large number of teams working with non fungible tokens.
In the next few sections of this article, you will find all the information you need when it comes to investing in NFTs on the Solana network. Additionally, we will tell you why Solana is among the most promising blockchain networks in the market and what you can expect from it in the next few years. Finally, you will get the latest information related to the upcoming Solana NFT Projects that you can find in the market right now.
What is the Solana Blockchain?
Let’s start this post by understanding how the Solana blockchain network works and what we should know about it before learning more about the upcoming NFT projects on top of this network.
Solana is known for being a “high-performance blockchain” that supports builders and developers around the world that create different applications, projects, NFTs and more.
There is a large number of initiatives being developed on top of this blockchain network. The reason behind this expansion is related to the way in which the Solana blockchain works.
An NFT project running on top of this blockchain network will be much more reliable, fast, and efficient than if it would run on top of another network.
The Solana blockchain relies on the SOL virtual currency. This digital asset is the one that powers the whole Solana blockchain and that makes it easy for new NFT creators and the community to create different projects.
At the moment, Solana is a strong competitor of Ethereum, Cardano, Polkadot, and other blockchains in the market. Therefore, Solana could become one of the largest blockchain networks in the world in the coming years.
What are NFTs?
It is also important to know what NFTs are and how they work. The word NFT stands for non-fungible tokens. These NFTs on the Solana network (and any other blockchain) work as a virtual representation of objects, contracts, images, and anything that can be created and that is unique.
Traditional cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) are fungible. That means that 1 ETH is equal to any other ETH token in the market. The same applies to Bitcoin and other virtual currencies. Litecoin (LTC) is fungible as well, with additional functions that make each LTC the same as any other LTC.
As you can see, NFTs are unique. They cannot be exchanged for the same NFT, as there is just one NFT that represents a specific object or thing. If you hold an NFT from an NFT collection, then you can be sure that the one that you have is the only one in existence.
In general, NFTs have been randomly generated, which means that there are many different options to buy unique tokens. Remember, each NFT is unique and could represent many things, from a hand drawn picture to a randomly generated collection consisting of 777 traits, among other things.
Difference Between Solana (SOL) and Ethereum (ETH)
There are very important things to take into consideration about both Solana and Ethereum. These are two different blockchain networks that work with different parameters and that offer distinct solutions to investors.
Each of these blockchain networks has advantages and disadvantages that are worth considering before using one or the other. These differences will play a key role for both content creators and users.
Depending on your needs you might choose one network or another. While Ethereum is the oldest and the most adopted one, Solana is making progress by offering applications and solutions that are more user-friendly than on the Ethereum blockchain. But let’s get into the details of each of these networks.
Transaction speeds are one of the most important aspects to consider when using a crypto or NFT project. These transactions are key to sending and receiving NFTs without having to wait for hours if the network is congested.
The utility of these NFTs is closely linked to the speed of the transactions on a specific blockchain. In this case, Solana is much faster than Ethereum in comparison. Processing an Ethereum transaction can take several minutes and even hours if the network is congested.
Instead, Solana can process thousands of transactions per second. This makes Solana a much more useful blockchain compared to Ethereum. This gives access to users to NFTs, collections, play to earn games, and many other things.
Let’s not forget that play to earn games require NFTs and a blockchain network that will not be congested (therefore, that would be able to process fast transfers).
Transaction fees are also another key thing to consider about blockchain networks. And there is a clear need to take them into account when selecting a blockchain network to mint NFTs. The more expensive the transaction fees, the more difficult (costly) it will be to mint an NFT collection.
At the same time, if you are playing a play to earn game, you will need to transact NFTs on a regular basis. Additionally, each activity that takes place on the network requires users to interact with the blockchain through a transaction, and therefore, pay transaction fees.
Those projects that do NFT drops have to also think about the cost that involves sending thousands of tokens to users using a network with high transaction fees. This is where Solana makes a difference, allowing projects to focus on their initiatives rather than being worried about the fees that they have to pay to process a simple transaction.
Ethereum transaction fees are quite high, especially now that the network continues to be congested. So how to avoid high transaction fees? Upcoming NFT projects have been moving to other networks such as Solana to avoid this issue.
Digital Currencies (SOL vs ETH)
There are also some differences linked to the tokens used to power each of these networks. In general, projects use their own token for governance purposes, to pay gas fees, and also to gain exposure to that specific project.
In the case of Solana and Ethereum, these projects have two digital assets: SOL and ETH. SOL is the token used to power the Solana blockchain and ETH is the one used to power Ethereum transactions and the whole operations of this network.
When we talk about the process to mint an NFT or a collection, then we are talking about using the underlying token to power the whole NFT creation. But we should also pay attention to the supply of tokens. The larger the token supply, the lower its value in the market.
Additionally, is the supply of SOL and ETH growing or is it capped? These are some of the questions that investors ask when they think about these two Metaverse virtual currencies.
At the moment, users can stake SOL and earn rewards for holding this digital asset. The staking process is quite simple and it only requires users to deposit their SOL tokens into a smart contract that would offer them regular rewards.
Ethereum is currently transitioning from a proof-of-work (PoW) to a proof-of-stake (PoS) blockchain network, which would also allow users to start staking their ETH coin.
The possibilities that these two digital currencies offer are unlimited, but they have some restrictions that apply (transaction fees, transaction times, and use-cases).
Projects on top of both networks
The Ethereum network was one of the first of its kind. It allowed, for the first time, to run smart contracts on a blockchain network. Before Ethereum, Bitcoin supporters tried to add some programmability to Bitcoin but they were constrained due to the way in which BTC was built.
However, Ethereum appeared allowing the creation of unique projects and solutions on top of its blockchain network. Nowadays, there are thousands of initiatives that run on top of Ethereum, making it possible for investors to get access to a wide range of solutions.
Some of the projects running on top of Ethereum are linked to different industry sectors, including Decentralised Finance (DeFi), NFTs, and many others. Due to this reason, the Ethereum network became a leader in terms of teams working on different solutions and projects.
Therefore, Ethereum is now the blockchain network that supports popular projects such as CryptoKitties, Axie Infinity, and Uniswap, among others.
Solana, instead, is home to new and exciting projects that could not release their projects on Ethereum due to the way in which Ethereum works. Hence, Solana became a unique alternative for the community to launch different solutions that are user-friendly and that do not have the constraints that Ethereum currently has.
In the future, we could see Solana becoming an even larger blockchain network with more and exciting projects.
How to Earn Passive Income on Ethereum and Solana?
There are some ways to earn passive income on Ethereum and Solana. These two networks work with Decentralized Finance projects that let users get access to passive income strategies. At the same time, considering that these two digital assets can be staked, users can earn passive income even without using specific DeFi protocols.
These are the two ways to get a relatively stable source of income using Ethereum and Solana:
- Using a DeFi protocol and investing in fixed income solutions
- Staking SOL and/or ETH on their relative protocols
You should know that if you want to use an external protocol such as Uniswap, you will earn rewards but there are some risks as well that people should take into consideration. Despite the risk, the rewards are usually very interesting, especially for those users that want to earn larger rewards.
Now, if you prefer to avoid risks and keep your funds staked, then you can do so on each of these blockchain networks. The rewards might be lower, but they offer another option for investors to earn some money on their virtual currencies.
Upcoming Solana NFT Projects
We should also focus on Solana and which are the top upcoming Solana NFT projects. These are NFT initiatives that run on top of the Solana blockchain. These include NFT drops, play to earn protocols, community driven projects, art collections, Metaverse worlds, an NFT club, and many other things.
Each Solana project is unique and carries a value proposition that varies according to the goals of these initiatives. The list of the upcoming Solana NFT drops and projects is getting bigger every single month. Therefore, you will find more and new upcoming NFT collections that would let you engage with NFT holders from all over the world.
Let’s get into the details of some of the most exciting and interesting Solana NFT projects.
Origin Wars NFT Project
The Origin Wars NFT project is among the most popular ones on top of the Solana blockchain. According to the official site of this NFT project, they present the toughest warrior race in the Solana ecosystem. Players are the characters of each battle and let users decide what could be future paths.
The NFT project has also an NFT collection that has already been sold out and that is expected to help the Solana blockchain expand in the coming months. This community driven project has attracted the attention of a large number of players from all around the world.
Royal Panther Empire
Kevin Cassidy has been behind this unique collection of tokens by giving his unique touch to each of the NFTs that have been created for this project powered by the Solana blockchain network.
The Royal Panther Empire is among the most interesting Solana NFT projects right now.
The game involves royal panthers that leveraged all means within their disposal and merged a vast store of arcane knowledge with political cunning and keen wit. Therefore, they were able to maintain their firm grip.
Panther heroes is a collection that engages in the evolution of these characters as they remained in positions set apart from the populace. Thanks to unique technologies and their vast knowledge, they now want to recover what they lost years ago. Are you going to be part of this NFT project generated on the Solana network?
This is a project that has been created as an NFT collection where holders will receive panthers and hold Solana NFTs. The goal is to make sure that players can enjoy a realistic experience by being the owners of real heroes on the Solana network.
Miners of Mars
Miners of Mars is a collection of 7000 randomly generated and hand drawn by Aleksa Gajic. Each of these miners has been randomly generated using more than 120 hand drawn traits that would become your space heroes.
When it comes to understanding the roadmap of this project, we can say that they are ready to adapt to new situations and move forward with new utilities and initiatives related to these unique space heroes on the Solana network.
One of the interesting things about this project is related to the Miners of Mars Anthem. As these songs and language strengthen the “brotherhood” of these miners, they have created the longest anthem in the world with over 7000 different stanzas.
Furthermore, this collection of miners comes with a community wallet that will be directly tied to a DAO. The community will then be able to decide what to do with the funds and how these funds should be spent.
Crypto Frogs is an NFT collection consisting of 7,777 NFTs that represent avatars of frogs that run on the Solana network. There are hundreds of different traits that let these frogs show unique aesthetics.
In some cases, the frogs will wear NBA jerseys and different character skin. The goal is to offer a unique collection of very rare frogs that wear NBA jerseys and other frogs that were drawn with over 500 features in total. This is one of the first of its kind community based projects on the Solana network.
Tokyo Food is a collection of 777 NFTs generated randomly that lets holders create their own ecosystem. The project is just initiating its path in the cryptocurrency market. However, the team knows that and they rely on the community to move the project forward.
As mentioned before, this collection of 777 NFTs generated randomly offers an opportunity for crypto supporters to get access to one of the most interesting NFT projects on the Solana network. Consisting of 777 NFTs, you will get access to some of the tastiest food in the market.
Tokyo Food is a collection that involves creating rare combinations of food where the community can feel they are part of this interesting world. With a collection consisting of 777 NFTs, you will get access to one of the most promising upcoming Solana NFT projects.
Courage Bears is a collection of 2000 generated NFTs on the Solana blockchain that would give holders access to cute (and sometimes not so cute) bears. You can have a rank depending on the type of bear that you hold, as some of them will be rarer than others.
This kind Metaverse of bears will be a great opportunity for you to enjoy a 3d collection of some of the funniest Solana blockchain NFTs. At the moment there have been no NFT drops from this project but there could be in the future.
SolAngel is an NFT project that includes a collection of 2000 generated NFTs (and even more) on the Solana blockchain, as the name suggests. This upcoming project focuses on holders and the community by printing a 2d collection of hand drawn non fungible tokens.
This project is planning to integrate staking utilities in the coming months. Holders will be able to stake their NFTs and earn rewards on them. Therefore, there is going to be a value for earning on this blockchain network.
It is clear that this NFT project wants to move forward with the creation of a Metaverse with an auction of NFTs that will let them build a strong community. The NFT also carries a value that depends on their rarity and availability on the market.
What is the Metaverse?
The Metaverse is a virtual world in which users, non fungible tokens, digital assets, and characters get in touch with one another. A Metaverse can be created on top of different networks, including the Solana blockchain (using SOL as digital currency), or on the Ethereum network, among others.
Each project could have created a different Metaverse with an auction of NFTs. In some cases, the way to promote an NFT project is by doing NFT drops to users and the community. For example, a collection of 4444 heroes is a collection that could be airdropped to the community (at least some less rare NFTs).
The Metaverse will let you enjoy things that you cannot experience in the real world and depending on the platform you use, you will get access to different solutions.
Understanding NFT Traits
Traits are the building blocks that let an NFT project create different NFT. Each NFT is unique exactly because they have different traits that cannot be found on other non fungible tokens.
Solana NFTs as any NFT on another blockchain network would have traits that would make them more or less rare. To mint an NFT you just require some traits and different algorithms will then assign probabilities to each NFT to get one or another trait. Each NFT collection will include a new NFT with or without utility that will be rarer than others.
Solana NFT Drops
NFT drops or Solana NFT drops are those activities in which a project releases NFTs to the community. Rather than airdropping SOL tokens, they will be giving away different NFTs. This is one of the best ways to distribute an NFT collection. Remember that NFTs have been randomly created using different traits.
Solana (SOL) Cryptocurrency Price
SOL is now one of the largest cryptocurrencies in the market. Due to the growth of this blockchain network and as projects mint a new NFT, SOL became a very useful digital asset. According to data shared by CoinMarketCap, SOL is the 9th largest cryptocurrency.
At the time of writing SOL has a price per coin of $37.18 and a market capitalization of $12.86 billion. The higher SOL price, the higher the market valuation of this project. It is worth taking into consideration that SOL holders have experienced volatility over the last years, as the price of SOL fluctuated a lot.
SOL reached a price of $250 in 2021. In 2022, the price of SOL dropped to below $30 for a short period of time. Let’s not forget that we are now in a bear market that could push SOL price even lower in the future.
The Future of the NFT Market and SOL
The NFT market could continue growing in the future, and SOL could also be involved in it. There are new projects releasing non fungible tokens which are sold for SOL tokens. The price of SOL could move higher if this blockchain network expands even further. Therefore, when projects mint an NFT and sell them for SOL, they are helping the whole ecosystem to move forward with a new collection of non fungible tokens.
Will SOL Skyrocket?
The SOL blockchain could expand even further. Holders will receive an NFT and they will pay using SOL. When it comes to the upcoming SOL price, holders could expect a price increase in the coming years if this blockchain network expands. These non fungible tokens generated on the Solana blockchain will allow SOL price to move higher in the future.
Final Words About Upcoming Solana NFT Projects
SOL and NFT holders have been growing over the last years on this blockchain network. The future of this ecosystem will be highly dependent on many things, including the price of SOL, how projects mint new non-fungible tokens, and upcoming initiatives releasing their own 3d collection of NFT.
There are many things to take into consideration about NFT utility, SOL, holders and this kind Metaverse that has been built on top of SOL.