Tensor NFT Marketplace Unveils Launch of Solana Token, Coinbase to List

Solana NFT marketplace Tensor plans to launch its highly anticipated TNSR token next week, and leading US cryptocurrency exchange Coinbase said on Friday that it plans to list the incoming Solana-based token.

Although Coinbase did not specify when the TNSR token would appear on the exchange, the digital asset is scheduled to launch on April 8. The launch of TNSR will coincide with the end of Season 3 of Tensor’s rewards program and the beginning of Season 4’s trading incentives.

Participants in the referral program, the Tensor Foundation said on Twitter, will receive “treasure chests” that will contain TNSR tokens. According to the Tensor Foundation, all treasure chests from the first three seasons of the program can be viewed and opened on April 8.

“Tensorians have played a huge role in the growth of the Tensor protocol so far. As such, an additional 1% of the $TNSR offering will be claimable by Tensorians who continue to stake until the claim date,” Tensor Foundation said on Twitter, adding that this claimable offer is in addition to the allocation earned through points.

According to data from Tiexo, Tensor has the most active wallets of all Solana NFT marketplaces, with approximately 345,000 unique wallets in the last 30 days. That’s more than double the number of rival Magic Eden, but Magic Eden has recently taken an impressive lead in trading volume, with a market share of almost 60% in the last 30 days, compared to 35% for Tensor.

Coinbase recently expanded its list of Solana tokens. In December, Coinbase listed the wildly popular Bonk (BONK) Solana meme coins. The Bonk and TNSR lists followed Coinbase with a list of other Solana-based tokens, Bonfida (FIDA) and Orca (ORCA).

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

On Wednesday, cross-bridge protocol Wormhole (W) opened an airdrop campaign to more than 400,000 wallets in Solana and other chains. Coinbase announced that the exchange would also add support for Wormhole perpetual futures on Coinbase International Exchange and Coinbase Advanced.

“Our goal is to list all possible assets that meet our legal, compliance and technical security standards. These standards do not take into account a project’s market capitalization or popularity,” Coinbase said in a blog post shared with the TNSR announcement.

Edited by Ryan Ozawa.