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Guides | Cryptocurrency Guide

What Is Tensor (TNSR)? All You Need To Know

Author

Rickie Sanchez

Tags

Tags Editor's Choice / Slider Posts

Reading time

3 mins
Last update

Author

Rickie Sanchez

Tags

Editor's Choice / Slider Posts

Reading time

3 mins
Last update

Author

Rickie Sanchez

Tags

Editor's Choice, Slider Posts

Reading time

3 mins
Last update

Tensor

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Key Takeaways

  • Tensor is a leading NFT marketplace built on the Solana blockchain.
  • Launched in July 2022, the project quickly gained popularity for its fast and user-friendly NFT trading experience.
  • According to CoinMarketCap, as of April 2024, Tensor captures a significant chunk, between 60% and 70%, of the daily Solana NFT trading volume.

What Is Tensor (TNSR)?

Tensor (TNSR) is an NFT marketplace built on the Solana blockchain. Launched in 2022, it caters to NFT collectors and traders and has gained recognition for its fast transaction speeds and user-friendly experience, becoming a favorite platform from the Solana community.

How Does Tensor (TNSR) Work?

Tensor can be understood through two main aspects: the NFT marketplace itself and its TNSR token.

Tensor NFT Marketplace

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Tensor is built on the Solana blockchain and offers an NFT marketplace for professional traders and casual collectors. The platform currently features deep liquidity across a vast collection of NFTs, real-time updates, and unique financial instruments for advanced trading. In addition, creators can use the Tensor platform to manage and launch their own NFTs.

TNSR Token

TNSR is the native token of the Tensor platform. It plays a key role in various aspects of Tensor such as:

  • Governance – TNSR holders can vote on proposals influencing the platform’s future.
  • Transaction Fees – Users get a discount on trading fees when using TNSR.
  • Incentives – The community can earn rewards through TNSR for their participation. 

Overall, TNSR fuels the Tensor ecosystem by giving the community a stake in its direction and growth. The more users and functionalities Tensor attracts, the more valuable TNSR becomes.

Tensor (TNSR) Token And Tokenomics

Tokenomics

The TNSR token is Tensor’s native cryptocurrency. It is used for:

  • Governance
  • Discounts & Benefits On The Tensor Marketplace

Token Details

Total Supply 1,000,000,000 TNSR

Circulating Supply 125,000,000 TNSR

Current Price $0.9311

Market Capitalization $116,390,784

This information is current as of May 2nd, 2024, and the token’s price, market value, and available supply may fluctuate.

Distribution

  • Community (55%)
    • Initial Airdrop (12.5%)
    • Community Treasury (42.5%)
  • Core Contributors (27%)
  • Investors & Consultants (9%)
  • Future Fundraising & Development Reserves (9%)

Where Can I Buy Tensor (TNSR)?

Binance Binance is a major exchange offering a wide range of cryptocurrencies. It offers multiple ways to buy crypto, including credit cards, debit cards, and peer-to-peer (P2P) trading.

Bybit This exchange is known for its derivatives and margin trading features, but you can also use the platform for spot trading.

Coinbase Coinbase is an American-based cryptocurrency exchange that allows you to buy cryptocurrencies using various payment methods, including bank transfers, debit cards, and wire transfers.

Is Tensor (TNSR) A Good Investment?

Pros

  • Fee discounts – Using TNSR for transactions on the Tensor marketplace can get you a discount on protocol fees.
  • High Performance – TNSR is described as ultra-scalable virtual router software, which suggests it can handle a large volume of data traffic efficiently.
  • Open-Source Technology – Since it leverages open-source technology, TNSR could benefit from a broader developer community and lower licensing costs.

Cons

  • Limited track record – As a new crypto, TNSR has a shorter history than established ones.
  • Dependence On The NFT Market – TNSR’s value is tied to the health of the Solana NFT market. If interest in Solana NFTs wanes, it could negatively impact TNSR’s demand and price.

Final Thoughts

Whether Tensor (TNSR) is a good investment depends on your risk tolerance and goals. Remember, this guide only provides a starting point for your research. Always conduct your due diligence before making any investment decisions.