It’s just sitting there… it’s been there for two months now, maybe three. I have over $50 that I cannot do anything with at all. I wanted to change it to Ethereum but unfortunately, I don’t have enough gas to do that (currently the gas is sitting at $120 for the slow transfer). I tried to get into Axie Infinity again, my previous three Axie were stolen right from my wallet mysteriously ( I hadn’t shared any of my information with anyone.) I saw some really cheap Axie and thought I could purchase them and get back into the game. Totally the purchase of the Axie would have been $150 for the three. Originally I paid $1500 for the first three Axie that was stolen, that’s another article to write for another day. The reason I did not end up buying the Axie was the gas was almost the same price as the three little monsters. It just didn’t make any sense. So now I have money that I can’t touch and I don’t have my Axie that could help me make more money, nor will I pay the crazy gas prices to do that- at all.
This is why I believe in the future the NFT market will be dominated by Solana NFT. The gas prices are absolutely ridiculous. As an NFT creator myself, it was so much easier for me to create my NFT and sell it on Solsea, digital eyes, and MagicEden than ever trying to sell anything on OpenSea, all because of one single issue- gas fees. The fees on Ethereum have become a thing of legend, something to believe in and fear. Solana, on the other hand, has become known for its ease of use and the ability to get whole collections ready for market at a much lower cost than any ethereum project. I believe that currently, it is just foolish to think that you can make a project on the ethereum chain unless your uncle is as rich as Scrooge McDuck. The fact that I can’t even get my money back to my initial wallet without having to pay a hefty fine should already let you know just how dismal things are on Ethereum at the moment.
Who wants to be charged a fee just because they made a purchase? People already hate sales tax but the fees of ETH go far beyond that, into a realm of just being ludicrous. There is supposedly a change coming for Ethereum that may actually fix this issue but that is far from now and by that time I think everyone will be on Solana. When I took some of my NFT and loaded them onto the Solana-based marketplaces the process of selling them was so smooth and easy fees were so low they were almost non-existent. Everything just ran smoother on Solana for me.
Now don’t get me wrong, NFT projects have taken a hit on Solana too with a lot of rug\ pulls happening recently. To this complaint, I just say that everything is a bit bumpy in the beginning. There will be issues for sure but once things are finally where they are supposed to be then Solana will definitely be a powerhouse for trades, NFT, and other platforms. After a 17500% rally in 2021there is no doubt in my mind that Solana will be the winner in the battle of SOL vs ETH I may not be able to get my money in my ETH wallet back currently, but I am sure in the future that won’t be too much of a problem anymore, or at least that is what is being said about ETH 2.0, we shall see.
Solana is a great platform and it isn’t just me that thinks this, Solana has seen tremendous growth and even institutional investors purchased $43 Million worth of SOL last week (cryptoslate.com, 2021). Interest in Solana is growing rapidly and there is the reason for that as many investors, buyers, and developers are probably getting really tired of being charged giant fees just for doing business or making a purchase. Solana had an event recently called “Breakpoint” which introduced the world to all of the wonderful ideas and possibilities available with SOL and the Solana blockchain, I for one cannot wait to see what is in store for Solana and everyone else involved.