Tensor: The Rising NFT Marketplace Taking the Lead
The marketplace Tensor has been making waves in the NFT ecosystem for the past few months. In fact, it recorded the highest trading volume last month, surpassing its competitor Magic Eden.
While there may be other factors contributing to its success, Tensor stands out with its ranking system that aims to reward its most active users.
In this guide, discover how to earn points on Tensor and become eligible for the marketplace’s airdrop.
Key Points About the Tensor Airdrop:
- Project: Tensor
- Difficulty: Medium
- Cost: Paid
- Duration: 5-10 minutes
What is Tensor?
Tensor is an NFT marketplace where users can buy, sell, and trade their non-fungible assets exclusively from the Solana network.
Tensor has recently seen a surge in users, becoming the most utilized marketplace on the Solana network.
Furthermore, the platform is often compared to Blurr, another NFT marketplace developed on the Ethereum network. Both platforms have their own incentive programs aimed at rewarding active users.
How to be Eligible for the Tensor Airdrop?
First and foremost, you will need a digital wallet that supports the Solana network. We recommend using well-known wallets like Phantom Wallet, Solflare, or Backpack.
You can then visit Tensor by clicking on this link: https://www.tensor.trade/
Now, there are several ways to earn points on Tensor:
- List NFTs on the marketplace
- Make bids on certain collections
- Create markets on the marketplace
The more NFTs you list, the more bids you make, and the more liquidity you provide, the more points you will earn.
Note: For this season, Tensor has decided to hide the points counter to “prevent abuse and promote a healthy market.” This will not affect your position in the overall rankings.
List an NFT on the Tensor Marketplace
The first way to earn points on Tensor is by listing an NFT on the marketplace. To be eligible, your NFT must be among the top 100 collections in terms of trading volume on Tensor.
Start by visiting your inventory, clicking on your profile in the top right corner, and then selecting “Inventory.” Here, you will find the NFTs held in your wallet.
Select the NFT(s) you want to list on Tensor and click on “Listed Articles.”
Enter the price at which you want to sell your NFT. To earn points, it’s important that the listing price is not too far from the current floor price of the collection.
Confirm your transaction by clicking on “Execute transaction.”
The longer your NFT remains listed, the more points you will earn. However, once it is purchased by another user, you will no longer earn points.
Feel free to repeat this process for multiple NFTs to increase your points.
Make a Bid on the Tensor NFT Marketplace
The second way to earn points is by making bids on NFT collections. Just like with listings, the collections you choose to bid on must be in the daily top 100 on Tensor to earn points.
To make a bid, go to the “collections” tab on the marketplace and search for your desired NFT project, provided it is in the top 100.
Once on the collection page, click on the “BID” tab.
Select “Collection” and specify the number of NFTs you want to buy, the starting price, and the decrease rate. The decrease rate can be set as a percentage or in SOL.
For example, if you set a 10% decrease rate and a starting price of 100 SOL, the first purchase will be at 100 SOL, the second at 90 SOL (10% decrease), the third at 81 SOL, and so on.
Note that you can also make individual bids on specific NFTs by clicking on “Individual.” However, this will not earn you points.
The more bids you make, the more points you earn.
Create Liquidity on the Tensor Marketplace
To create liquidity, you need to switch to the Pro version of the marketplace. Simply check the “Pro” box at the bottom of the interface.
Next, visit one of the top 100 collections on Tensor.
On the collection page, you will see a trading chart showing the collection’s activity, as well as a “Market-Make” tab next to “Buy” and “Sell.”
Market-Making refers to creating both buy and sell offers for a certain number of NFTs, making the market more liquid. If you are new to NFT markets or have a low capital, it is not advisable to engage in market-making.
Specify the number of NFTs you want to buy initially and the number you are willing to sell. If you want to sell 10, you need to have 10 in your wallet.
Then, enter the starting price at which you want to sell your first NFT, followed by the change rate for each purchase/sale.
Finally, enter the desired fee rate you will receive for providing liquidity to the protocol.
For more information on market-making on Tensor, it is recommended to read this page: https://docs.tensor.trade/trade/get-started-with-tensors-amm/market-make
Important Clarifications on the Tensor Airdrop
Now you know how to earn points on the Tensor marketplace.
However, be aware that this process is time-consuming and requires patience. Don’t expect to rank at the top of the leaderboard in just a few days unless you have millions of dollars to allocate to this process.
To stay updated on major announcements regarding Tensor, we recommend following the project on Twitter.
For assistance, you can join the project’s Discord server.
