Tensor is a pioneering NFT marketplace operating on the Solana blockchain. It is known for providing advanced trading features, deep liquidity across more than 30,000 NFT collections, and real-time updates for both traders and creators.
Tensor leverages Solana's blockchain technology to offer a fast and efficient NFT trading experience. It incorporates advanced trading features such as Price Locks, allowing traders to long or short NFTs with minimal upfront fees, and introduces AMM-styled liquidity pools for efficient price discovery. It utilises Solana's Proof of Stake consensus mechanism to ensure fast and cost-effective transactions, and smart contracts to facilitate NFT transactions and management within its ecosystem.
Tensor can be utilised in various sectors, including:
Tensor was founded in March 2022 by Ilja Moisejevs and Richard Wu. Initially targeting the development of an NFT pricing oracle, the project pivoted to an NFT trading platform upon identifying a market need for sophisticated trading tools. The platform has facilitated over $2 billion in transactions, representing significant Solana NFT trading volume. Tensor introduced notable updates such as compressed NFTs, significantly reducing cost barriers, and developed an AMM for NFTs to enhance trading capabilities. A major milestone was the launch of its governance token, TNSR, further enabling community-driven protocol governance.