September 5, 2023 ‚ÄĘ 4 minute reading time

Exploring the Connection between Tensor and Tensorians: A Conversation with Pioneers in Solana's NFT Landscape

Jito Foundation
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Solana HFT

As the digital world continues to evolve, the intersection of blockchain and NFTs has given birth to groundbreaking projects that challenge conventions. One such project is Tensor, an NFT marketplace on Solana that has recently launched Tensorians, an NFT collection. In this interview with the Tensor team, we ask them about the motivation to launch Tensorians, what benefits do holders receive and what they have planned for the future. But we will let them tell you more about it all. ūüĎá

Q&A

Overview of Tensorians: Can you give us an overview of the Tensor and the Tensorians project. What distinguishes it from other NFT projects on Solana?

Tensor is currently the #1 NFT Marketplace on Solana by market share. We started off building a more advanced NFT aggregator and marketplace, but now cater to all NFT degens on Solana with our lite and pro mode.

Our philosophy has always been leaning towards innovation and proving out what’s "Only Possible on Solana (OPOS)". Our big bet right now is compressed NFTs: we believe they are THE pathway for Solana to become the dominant chain for all things digital assets, since it unlocks web2 economics for creating digital assets on a blockchain ($0.00001 per NFT) that no other chain offers at the moment. This unlocks a design space where NFTs are no longer restricted to collectibles and status symbols but as a tool for bringing anything non-fungible on-chain. We were the first marketplace to support compressed NFT (cNFT) trading, and the first to launch a 10k PFP cNFT collection (Tensorians).

Tensor is one of the most visited Solana dApps right now (250K MAUs), and Tensorians are the first-class citizens of Tensor. Tensorians is our way to identify the superfans of Tensor so that we can target rewards, giveaways and early-access features. As Tensor grows and becomes a household name, Tensorians will be part of the journey as our loud and outspoken superfans.

Utility in the Platform: Are Tensorians going to play a big role in the Tensor community, can you share any future plans?

Yes. Tensorians will receive disproportionately more rewards since they are essentially our superfans. They will receive early access to any new features we release on Tensor, as well as exclusive opportunities (whitelist, mints, and more) with our partner creators. You also get to hang out with the core Tensor team in our gated Discord channels, voice calls, and live streams!

Staking on Solana: How are the treasury's assets managed, and what considerations go into deciding between holding liquid SOL versus other investment avenues?

A large portion of Tensor's treasury is in a Squads multi-sig. We keep about 50% of it in stablecoins, and the rest in SOL. We have about a 50/50 split between native staking and liquid SOL. We have a larger-than-average SOL position since we believe in the ecosystem and want to participate in securing the chain. We split our staking options between native and liquid for both risk management and faster access to capital.

Community Engagement: How has the Tensor community played a role in the evolution and progression of the Tensorians project?

Most of the Tensor community are Tensorians already! In fact, 80%+ of our most active traders rep Tensorian PFPs on their social profiles which is pretty cool to see. We see the Tensor community and Tensorians eventually converging: the dream is to have the majority of Tensor users become a part of the Tensorian family.

Competitive Strategies: In the bustling domain of NFTs on Solana, what tactics has Tensor adopted to distinguish itself and magnetize a devoted community for Tensorians?

It's not rocket science for how to nurture a devoted community. You just have to care (genuinely) and show it in every way.

The turning point for Tensor's market share was the Mad Lads mint. We came out and said we were giving 100% of our marketplace fees back to Mad Lads traders for the next 3 months, because we knew how important Mad Lads was to bringing more attention and users to the Solana community.

Secondly, our Tensor rewards program has been the most generous marketplace incentive program on Solana to date. All of our Season 1 and Season 2 users received Tensorians for just using Tensor every single day, as well as a ton of rewards from our partner collections.

Web3 differs from web2 in that your community is your platform: if you share your growth with your community and have a great product experience, they will support you to the end of times.

Future Vision and Integration: How do you perceive the growth of Tensor and Tensorians in the coming years, and are there any groundbreaking features or collaborations you're particularly thrilled about?

Our vision is to become the dominant ecosystem for all things digital assets. We want to offer best in-class experience for both traders and creators, whether it's transacting & managing digital assets for the trader, or creating & launching assets for the creator.

We're excited about building better & faster tooling for compressed NFTs and testing what's possible with this tech with all the creators we work with. If you're a creator and want to push the frontier of OPOS and digital assets in crypto, shoot us a DM!

Closing Thoughts: What message would you like to convey to the Tensor and Tensorians community, as well as to prospective members keen on diving into this NFT journey?

Tensorians is not like any other NFT collection. Building a great platform and product experience takes years, and web3 is no different (although the pace is indeed faster). We won't rush out features just to make announcements. We take a very long-term view on how we build Tensor and the Tensorians community, and that's for the singular goal of becoming a household name for digital assets in the next 1-2 years.

Tensorians do not think in days or weeks: we think in months. If you believe that Tensor, our team, and the Tensorians will be able to innovate and build 10x better product experiences over a long time frame (as our track record has proven!), and you're a superfan of what we do, then come and hang out with us!


Forging a New Path for Digital Assets

Tensor’s commitment to authenticity, innovation, and community-driven growth is just what the Solana community needs. The team's passion and ability to chew glass should serve as an inspiration for builders in the space, both seasoned and new. We appreciate the work they are doing and are excited for what comes next.