Tensor, the NFT trading platform on the Solana chain, completed a seed round financing of US $3 million

It is reported that Tensor, the NFT trading platform on the Solana chain, announced the completion of a seed round financing of US $3 million, with Placeholder leading the investment, Solana Ventures, Alliance DAO, Big Brain Holdings, and Solana co-founders Anatoly Yakovenko and Raj Gokal participating in the investment. Tensor launched the private beta model in June 2022 and plans to open it to the public next month. （TechCrunch）

Interpretation of this information:

Tensor, a non-fungible token (NFT) trading platform that operates on the Solana chain, has raised $3 million in seed funding. Placeholder led the financing round, with participation from Solana Ventures, Alliance DAO, Big Brain Holdings, and Solana cofounders Anatoly Yakovenko and Raj Gokal. Tensor plans to launch its public beta model next month, following a private beta in June of 2022.

The funding will enable Tensor to further develop its trading platform, which aims to improve the speed and efficiency of NFT transactions on the Solana blockchain. As a decentralized platform, Tensor provides a more transparent and secure way to trade NFTs, eliminating the need for middlemen or brokers in the process. Its NFT trading features will include auctions, instant sales, and secret auctions.

The success of Tensor’s seed round also highlights the growing interest in NFTs, which have emerged as a new asset class for investors and collectors. NFTs are unique, digital assets that can represent everything from artwork to tweets, and they have gained traction in the world of art and entertainment, where they have been used to sell everything from music and videos to virtual real estate.

The funding of Tensor underscores Solana’s growing importance in the world of blockchain technology. Solana has become a popular destination for NFT creators and enthusiasts, with its fast processing speeds and scalability features providing the perfect environment for NFT transactions. With Tensor’s NFT platform operating on Solana, the two have formed a symbiotic relationship, with Tensor spurring adoption of the Solana chain and Solana providing a stable platform for Tensor to operate on.

In summary, Tensor’s successful seed round fundraising will allow the NFT trading platform to expand its services and continue innovating in the fast-growing world of NFTs. With its upcoming launch of its public beta, Tensor aims to provide a secure and transparent way for users to trade NFTs on the Solana blockchain. The involvement of investors such as Placeholder and Solana cofounders Anatoly Yakovenko and Raj Gokal further highlights the growing importance of both Tensor and Solana in the world of blockchain technology.