Coinbase To List Tensor NFT Token TNSR After Launch on April 8

Solana-based leading NFT marketplace Tensor recently announced the launch of its upcoming token TNSR scheduled to go live on April 8. Crypto exchange Coinbase was quick enough to announce support for the TNSR token. This introduction of the native TNSR token from the Tensor NFT marketplace with the end of Season 3 of Tensor’s rewards program.

The Tensor (TNSR) Token Launch

As per the announcement from Tensor Foundation, they will reward the community and those part of its referral program through “treasure boxes” containing TNSR tokens. Participants would be able to view all treasure boxes from the initial three seasons of the program. They can later open these boxes along with the launch of TNSR on April 8.

Tensor Foundation announced on Twitter that Tensorians, who have been pivotal to the growth of the Tensor protocol, will have the opportunity to claim an additional 1% of the $TNSR token supply if they remain staked until the claim date. This claimable supply is offered on top of any allocation earned through points.

Data from Tiexo reveals that Tensor boasts the highest number of active wallets among Solana NFT marketplaces, with approximately 345,000 unique wallets recorded over the past 30 days. This figure surpasses the count of rival platform Magic Eden by more than double. However, despite Tensor’s active user base, Magic Eden has recently surged ahead in trading volume, commanding nearly 60% of the market share in the last 30 days, compared to Tensor’s 35%.

Coinbase And Solana Token Offerings

Coinbase has significantly expanded its selection of Solana tokens in recent times. It all started with the listing of the widely sought-after Bonk (BONK) Solana meme coins on its platform last year in December.

Following this, Coinbase proceeded to list other Solana-based tokens, including Bonfida (FIDA) and Orca (ORCA), further enhancing its Solana token offerings. Sharing a blog post while announcing TNSR on its roadmap, Coinbase stated:

“Our goal is to list every asset possible that meets our standards for legal, compliance, and technical security. These standards do not take into account the market cap or popularity of a project”.

The cross-bridge protocol Wormhole (W) has initiated an airdrop campaign targeting over 400,000 wallets across Solana and other blockchain networks. Additionally, Coinbase has disclosed plans to integrate support for Wormhole perpetual futures on both Coinbase International Exchange and Coinbase Advanced.