By Shelly Melancon (Switzerland)
On March 14, Behance (Adobe’s showcase arm) announced that new features would be integrated into the platform so that creators could start profiting from their works. Through this feature, Behance users can link their accounts to Phantom wallets, which would make SOL NFTs visible on their Behance accounts
Solana Is A Better Option Than Ethereum Blockchain
The Solana-built Phantom wallet was primarily created for DeFi apps and NFTs. This bridge feature was developed and designed by Quicknode, a Miami-based Web3 tech platform. Speaking about the development, Bill Allen said, “this bridge feature enables Behance creators to display their Ethereum-built NFTs on their Behance profiles.” Allen is Adobe’s VP and CEO of Behance.
He explained that Behance opted for the Solana blockchain because most Behance users won’t take advantage of this feature if it were on the Ethereum blockchain because of the network’s high transaction fees. The Behance CEO further opined that Solana blockchain is a better alternative than Ethereum mainly because of the latter’s substantial transaction fees. Conversely, Solana’s transaction fees are almost negligible and consume minute amounts of power.
Helping Creators Earn More
The Phantom team also tweeted about the new partnership, describing it as a “huge step for the Solana creator ecosystem because artists can now be exposed to the NFT world inexpensively and in an eco-friendly manner.” Last October was Behance’s first attempt at helping creators earn more from their works through exposure to NFTs.
At that time, Adobe partnered with NFT platforms like SuperRare, and KnownOrigin. Behance explained that the move aligns with the platform’s objective of displaying original works from creators through its content authenticity initiative. Allen further revealed that Solana’s address would be added to the content credentials tools as a photoshop. Thus, ensuring that creators are given their due credit and preventing stealing of artworks.
Quicknode, Adobe, And Solana Mainnet
Rather than developing and managing a node for Adobe, Quicknode allowed Adobe to rent a portion of Solana’s mainnet. Thus, making it easier for the Web3 firm to manage the node for Adobe. It is remarkable to note that Quicknode manages nearly 55% of all nodes on the Solana blockchain. Thus, making it Solana’s top node provider.
Top Solana-built NFT platform generates $28m in its latest funding round. Magic Eden, one of the top Solana-built NFT platforms, has revealed that it earned $28m in its latest fundraising round. Paradigm (a famous VC firm) made the highest investment in this funding round. Other VC investors include Variant, Sequoia, and Greylock.
Magic Eden’s CEO, Jack Lu, said, “part of the funds raised will be used to enhance our Web3 presence and improve user engagement among our users.” Lu further said that would also be used to fill necessary positions in the company’s workforce and create more mobile apps that suit the NFT marketplace. Magic Eden was launched in September 2021 and owned more than 60% of Solana’s NFT market. Investors in this fundraising event are experienced investors in the crypto space. Hence, they should provide necessary help to the Behance team when required.
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