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Solana Foundation Launches NFT Showdown Contest
The Solana Foundation has launched an initiative that focuses on non-fungible tokens (NFTs) and aims to “strengthen the quality” of new NFT projects. Called “NFT Showdown”, Solana’s idea is basically a competition that invites artists to come up with innovative business plans and create collections with “real-world utility” in fashion, entertainment, and gaming. With the NFT Showdown contest, Solana hopes to improve the quality of new projects in the creator ecosystem.
Solana Foundation’s head of strategy Austin Federa stated:
“The NFT Showdown is designed to encourage a shift in the way NFT brands design their business plans prior to launching. Projects should consider what it will take to achieve long-term success as an NFT brand.”
The idea has been supported by Magic Eden, a community-centric NFT marketplace that offers trading for Solana-based collections. According to Magic Eden’s Head of Marketing
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