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LearnCrypto 101

App Spotlight: Tensor

Zac Glover
    App Spotlight: Tensor

    There are two kinds of people who buy NFTs. Those who collect them. And those who flip them. And flip them. And flip them again. Most marketplaces focus on the first group, but Solana-based NFT trading platform Tensor focuses on the second.

    Here’s what you need to know…

    tensor.trade homepage

    What is Tensor?

    Tensor is an NFT marketplace for pro traders. It features advanced functionality such as real-time data, candlestick charts, and automated market making (AMM) pools for NFTs. Along with these features, it offers rewards. When you make trades, place bids, and provide liquidity, you earn rewards such as NFT airdrops and mystery boxes. The more active you are, the more you earn. For the more casual user, Tensor offers a “Lite” mode—with a more simple, visual design. But make no mistake, Tensor’s priority is advanced traders. Here’s why…

    Tensor was founded by two former finance and tech workers, Richard Wu and Ilja Moisejevs. Having worked with financial assets, they had a unique insight. If NFTs become a global asset, they’ll become like other financial assets, and will need similar resources. Real-time data. Bulk actions. Advanced orders. The result? Tensor, one of the first pro trading products in web3.

    Interview with Richard Wu, Co-founder of Tensor

    The Zeitgeist Episode 29

    Richard Wu, Co-founder - Tensor

    Why use Tensor?

    Personalize your trading experience

    Tensor is a high-octane trading platform full of buttons, nobs, and toggles. These aren’t for looks. You’ll use them to customize your trading experience. What can you do? Choose your royalty preference, change the rarity algorithm, configure slippage, and more. You can even turn on “degen mode.” Don’t believe us? Go see for yourself in the app settings (gear icon).

    Snipe rare NFTs

    The key to lucrative trades? Buying low and selling high. While it’s easier said than done, Tensor can help. With its rarity-price chart, you’ll see entire NFT collections plotted out by price vs rarity rank. Scan it for the rarest NFT with the lowest price, then pull the trigger.

    Get rewards

    Tensor rewards your activity. When you bid, trade, list, and provide liquidity, you earn points and mystery boxes. The more active you are on Tensor (versus other Solana marketplaces), the higher your loyalty score—which increases the rarity of your mystery boxes. What do these mystery boxes contain? Start trading to see what secret prizes await you…

    Tensor Pro vs. Light Mode

    How to get started with Tensor?

    Tensor’s a pro trading product, but that doesn’t mean you should jump in and try to flip your way to 1 million SOL. Start small. Familiarize yourself with the layout. Check collection stats to compare floor prices and trading volume. When you feel comfortable, place a low-stakes bid on an NFT. Or, if you’re feeling bullish, sweep a collection’s floor. Even if you don’t make a profit, Tensor will reward your effort (sort of like a participation trophy).

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