With the rapid development of blockchain technology, NFT (non-fungible token), as an emerging form of digital assets, is gradually changing our business and cultural ecology. In this wave, the TNSR governance token launched by the Tensor Foundation of the Solana NFT market marks the entry of NFT transactions into a new era.
Tensor Foundation’s Vision
The Tensor Foundation is the new entity supporting the famous Solana NFT marketplace Tensor. It was established not only to promote NFT transactions and applications, but also to empower the community and promote cooperation among creators and innovators. By launching the TNSR token, the Tensor Foundation hopes to achieve decentralized governance and allow community members to participate in the management and decision-making of the protocol.
According to a report from the Tensor Foundation, TNSR will manage the Tensor protocols, which have already facilitated more than $2 billion in NFT transactions on Solana. Solana is known for its unrivaled speed and scalability, making it an ideal platform for NFT transactions.
The potential of the NFT market
Although NFT still occupies a niche corner of the Internet, the Tensor Foundation is confident about the future. They envisioned an NFT to support the future of entire industries and businesses. As NFT trading volume continues to increase, and the number of traders is expected to soar into the billions, strong trading infrastructure will become particularly important.
The Tensor Protocol is the critical infrastructure for this emerging asset class. It builds on Solana’s high throughput, fast transactions, and low fees to ensure widespread adoption of NFTs.
Achievements of Tensor Protocol
In the past 90 days, the Tensor protocol has facilitated more than 70% of Solana’s NFT transaction volume, an achievement that undoubtedly proves its important position in the market. The monetary value of these transactions reportedly exceeds $2.18 billion. These data not only demonstrate the powerful capabilities of the Tensor protocol, but also lay a solid foundation for the launch of the TNSR token.
Function of TNSR token: The launch of TNSR token will transfer the management rights of Tensor protocol to the community. This means that users holding TNSR tokens will be able to participate in the governance of the protocol, make suggestions and vote, and decide the future development direction. In addition, the Tensor Foundation is committed to maintaining infrastructure stability and cultivating a vibrant ecosystem.
This ecosystem will be composed of creators and innovators who will jointly promote the application and development of NFT. The TNSR token is not only a governance tool, but also a symbol of community member participation and contribution.
Comparison with competitors
Since its establishment in 2022, Tensor has been competing fiercely with platforms such as NFT giant Magic Eden, striving to consolidate its position in the Solana NFT market. According to NFT explorer Tiexo, Tensor currently holds a 36.74% share of the NFT market, while Magic Eden retains a 58.32% share. Although there is still a gap in Tensor's market share, with the launch of the TNSR token, the Tensor Foundation is expected to attract more users and creators and further expand its market influence.
future outlook
With the launch of the TNSR token, the Tensor Foundation’s vision is gradually being realized. Through decentralized governance, community members will be able to actively participate in the construction of the NFT market. At the same time, the Tensor protocol will continue to play its important role in transaction infrastructure and provide support for the widespread adoption of NFTs.
In the future, the Tensor Foundation hopes to establish cooperative relationships with more creators, developers and users to jointly promote the prosperity of the NFT market. As technology continues to advance and market demand increases, the application scenarios of NFT will continue to expand, and the Tensor Foundation will continue to explore new possibilities.
Conclusion
The launch of the TNSR token is not only an important strategic layout of the Tensor Foundation, but also an important milestone in the development of the NFT market. With the realization of community governance and the construction of the ecosystem, TNSR tokens are expected to become an important force in promoting the development of the NFT industry. In this era of opportunity, the Tensor Foundation’s vision will lead us toward a more prosperous NFT future.