Venture Capitalist: Not Ethereum, This Altcoin Is a Sleeping Giant!

Chris Burniske, co-founder of Placeholder, claimed in a new report that Ethereum will ‘overtake’ specifically in the NFT space. The crypto investor suggests that this altcoin is more unique in terms of NFT capabilities.

Chris Burniske compares Ethereum to its competitors in the NFT space

The Placeholder shareholder said that Layer-1 Blockchains offer unique opportunities in the markets. He states that Solana’s NFT ecosystem in particular attracts attention due to its lower cost compared to other networks.

According to Burniske, “People are aware of the fact that it costs $200 to print NFTs in Solana using state compression and deliver it to 10,000,000 users. This cost is several times cheaper than its closest counterparts.”

Burniske, who is also a former ARK Invest analyst, says Drip Haus in particular is the biggest catalyst behind Solana. Drip Haus is a popular NFT distribution platform based on Solana. According to Burniske, “A viral growth similar to what Drip Haus has seen gives users an insight into what will happen when they reach about 1 in 1000.”

The future of the NFT market

Burniske predicts that NFTs will play a critical role in the global adoption of cryptocurrencies. Also, NFT says technology will make our lives touch instead of place in the future. Sharing his thoughts on Solana’s NFT ecosystem, the analyst says Solana’s NFT power, coupled with its ability to print NFTs at a lower cost unlike other networks, is tangible in the viral growth of projects like Drip Haus.

His views on Solana included that it had more potential compared to Ethereum. Burniske acknowledges that Ethereum is still ahead. But he argues that while Solana is a contentious ecosystem, it is a place to invest heavily.

Regarding his strategy, Burniske states that it is important to select the best teams from a startup perspective in ecosystems such as Cosmos and Solana, as well as Ethereum. Therefore, in Burniske’s view, Solana’s NFT strength and contentious ecosystem should be seen as an important indicator for the future popularity of cryptocurrencies.

Solana’s NFT performance analysis

Solana has recently received significant support for the network’s NFT ecosystem, which will accelerate growth. Floor, a cross-chain NFT application, announced that it will be available on Solana. According to the official announcement, the launch will take place on May 8, 2023.

With the new integration, Floor users will soon be able to add their Solana wallets to see their favorite collections. Floor also announced that more than 2,500 users have joined the waiting list for the launch.

The latest news came days after the launch of the Mad Lads NFT collection, which we transferred as Kriptokoin.com, in Solana. The newly launched NFT collection has outstripped many collections in terms of sales, including BYAC.