The world of non-fungible tokens (NFTs) has exploded in popularity over the past year, with numerous marketplaces emerging to cater to the growing demand. One such marketplace is Tensor, built on the Solana blockchain.

In just the past 30 days, Tensor has processed over half a million NFT trades, with over 1.2 million SOL in volume and over 13.6k active users.

This data begs the question: how did Tensor rise from obscurity to become one of the top players in the NFT game?

In this data analytics piece, we will explore the story of Tensor's growth, examining key metrics and insights to understand what set it apart from its competitors.

Tensor is a professional NFT trading platform on Solana with a mission to become the go-to trading venue for pro-NFT traders.

The platform offers advanced tools and features like real-time data, liquidity sourced from major marketplaces, advanced charts, analytics, and bulk actions for buys, bids, listings, and delistings.

Tensor also operates the world's first NFT AMM and marketplace in one, with features like traditional marketplace listings, collection-wide bids, and bonding-curve-based orders. Additionally, both apps benefit from 10,000+ existing collections on Solana, 4 integrated rarity systems, and a slick UI/UX.

Overall, Tensor aims to provide faster, more efficient, and more data-rich NFT trading experiences for its users.

Tensor has experienced significant monthly growth in NFT traders. In September 2022, there were 360 traders on the platform, which grew to 33,556 traders in April 2023.

This represents a growth of over 93 times in just 8 months. This impressive growth can be attributed to Tensor's user-friendly interface, real-time data, and advanced order types.

The number of monthly active traders has increased from 360 in September 2022 to 18,085 in April 2023. The growth trajectory has been somewhat uneven, with occasional dips in active users, but overall, there is a clear trend of significant growth.

This suggests that Tensor has been successful in attracting and retaining users, likely due to its unique features and capabilities compared to other NFT marketplaces.

It appears that Tensor is performing well compared to other marketplaces. While it doesn't have the highest trading volume, it is still in the top three with a 30-day trading volume of 1,179,290.95 SOL, after Magic Eden v2 and hadeswap.

Additionally, Tensor's volume is significantly higher than other marketplaces such as Coral Cube and hyperspace. It's important to note that the ranking can vary from month to month, but overall Tensor seems to have a solid trading volume.

Tensor's monthly volume has been steadily increasing over the months. In the first month, September 2022, the monthly volume was 5,032.89 SOL, which then increased to 916,075.29 SOL in April 2023.

The accumulated monthly volume also shows a significant increase, from 5,032.89 SOL in September 2022 to 2,512,473.69 SOL in April 2023. This suggests that Tensor is experiencing significant growth and adoption, likely due to its increasing popularity among traders and investors.

In conclusion, Tensor's rise to become one of the top players in the NFT game can be attributed to several factors. Firstly, the platform's user-friendly interface and low transaction fees have made it attractive to both experienced traders and newcomers.

Additionally, the platform's innovative features, such as its decentralized exchange, have contributed to its popularity.

Furthermore, Tensor has been successful in attracting and retaining a group of high-volume traders, or "whales," who have contributed significantly to its trading volume.

Although this concentration of volume among a few traders can be a cause for concern, it has also allowed Tensor to generate significant revenue, which can be reinvested into the platform's growth.

Finally, Tensor has benefited from its partnerships and collaborations with other successful players in the NFT space, such as Solana, which have increased its visibility and credibility.

Overall, Tensor's success can be attributed to a combination of factors, including user-friendly features, low transaction fees, innovative offerings, strategic partnerships, and the contribution of high-volume traders.

Its rise from obscurity to becoming a top player in the NFT game is a testament to the power of innovation, user experience, and community engagement in the rapidly evolving world of cryptocurrency and blockchain technology.

The fact that 8 traders (whales) have contributed to about 20% of Tensor's trading volume suggests that they have a significant impact on the platform's revenue. Their trades contribute a substantial amount of fees to the platform, but they also pose a risk in terms of market manipulation and instability if they decide to exit their positions at once.

Regarding the average trading amount per marketplace, it seems that Solana Monkey Business Marketplace has the highest average trading amount, followed by Yawww, Hadeswap, and Solanart. This could suggest that these marketplaces have a higher concentration of high-volume traders, which can contribute significantly to the platform's revenue.

On the other hand, marketplaces with lower average trading amounts may have a more diverse user base with smaller trades, which could still be valuable for the platform's growth.

Tensor ranks third in terms of active users among the listed marketplaces. It falls behind Magic Eden V2 and Magic Eden, which have significantly higher numbers of active users. However, Tensor outranks Coral Cube, Hadeswap, Hyperspace, Exchange Art, Solanart, Opensea, Coral Cube (duplicate), and Yawww.

The data suggest that Tensor is a relatively popular marketplace with a substantial user base, but still has room to grow in comparison to the two leading marketplaces.