Tensor NFT Marketplace Reveals Solana Token Launch, Coinbase to List

Solana NFT marketplace Tensor plans to launch its long-awaited TNSR token next week, and leading American cryptocurrency exchange Coinbase said Friday that it plans on listing the incoming Solana-based token.

While Coinbase did not specify when the TNSR token would be listed, the digital asset is scheduled to launch on April 8. The TNSR launch will coincide with the end of season 3 of Tensor’s rewards program and the start of season 4 trading incentives.

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

“Tensorians have been instrumental to Tensor protocol growth to date. As such, an additional 1% of $TNSR supply will be claimable by Tensorians that remain staked until the claim date,” Tensor Foundation said on Twitter, adding that this claimable supply is in addition to any allocation earned through points.

Tensor has the most active wallets of any Solana NFT marketplace, according to data from Tiexo, with about 345,000 unique wallets over the last 30 days. That’s more than double the tally of rival Magic Eden—but Magic Eden has taken a commanding lead recently in terms of trading volume, with nearly 60% market share in the last 30 days compared to 35% for Tensor.

Coinbase has recently ramped up its listing of Solana tokens. In December, Coinbase listed the wildly popular Bonk (BONK) Solana meme coins. The Bonk and TNSR listings followed Coinbase listing other Solana-based tokens, Bonfida (FIDA) and Orca (ORCA).

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

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

“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,” Coinbase said in a blog post shared with the TNSR announcement.

Edited by Ryan Ozawa.