Solana’s NFT Marketplace Tensor Teases A New Product – Could It Be Another Coin?

On Sep 22, 2024

Tensor_hq, a renowned digital asset firm and the team behind the Tensorians non-fungible token collection and the Tensor NFT market platform, has teased plans to launch a new product. The new product appeared three months after Tensor_hq launched its native token, $TNSR, which has significantly tanked in price value, leaving several crypto investors in massive losses.

Tensor_hq Teases A New Crypto Product

In a September 20 blog post, Tensor_hq announced plans to launch a new crypto-related product. Even though the digital asset firm Tensor has not shared more information, its upcoming product has not received a warm reception. Instead, the upcoming product has stirred up a heated discussion online, with many investors expressing their fear, uncertainty and doubt “Fud.”

🚨BREAKING: @tensor_hq opens up waitlist for their new product https://t.co/9cKLCSb13x pic.twitter.com/bxBt06SVuV
— SolanaFloor (@SolanaFloor) September 20, 2024

Founded sometime in 2022, Tensor_hq is a digital asset incubation studio focused on providing traders with the deepest liquidity, the widest coverage of collections and advanced functionality. The digital asset firm is backed by prominent venture capital in individual investors, including the Placeholder venture capital, Solana Ventures, and Solana founders Toly and Raj.

In April 2024, Tensor_hq launched its native token, $TNSR. The $TNSR token, with a total supply of 1 billion, plays a crucial role in this ecosystem, enabling community members to manage key parameters of the Tensor protocols and get discounts when trading on them. This governance token also allows holders to vote on proposals about the protocol’s development, including using the community treasury and other utilities.

Unfortunately, TNSR has tanked significantly since its inception. The price has fallen from $1.90 in April 2024 to below $0.40 in September 2024. At the time of publishing, TNSR was trading at around $0.39. This crypto token has left many investors, who initially staked heavily, holding nearly worthless investments. Upon hearing Tensor_hq is launching another product, some investors have expressed their disgruntlement, fearing it would be another rug-pull project.

another fcking useless rug pulls.
— DeMomo ⭕️🦎🟩 (@CryptoMomo4) September 20, 2024

So another scammaz enabler platform? 🤣
— Mitoshi (@SuiKrypto) September 20, 2024

Other Tensor_hq Products

Tensor_hq is the brainchild behind Tensorians, a renowned non-fungible token collection that features a limited edition of 10,000 profile picture (PFP) NFT collections hosted on the Solana blockchain network. Tensorians NFT collection gives holders numerous benefits, including access to a gated community, point rewards, Tensorians staking and more. Tensorians has rapidly grown to become one of the top-selling NFT collections in the Solana NFT ecosystem.

Alongside managing the Tensorians NFT collection, Tensor_hq also has an NFT marketplace. The NFT marketplace offers traders deep liquidity, swift transactions for NFT trading, and the opportunity to earn rewards. It also allows users to list, purchase, sell, and trade non-fungible tokens. Its scalability and functionality are made possible by Solana’s rapid speed and low transaction costs. Tensor has rapidly grown to become one of the leading NFT market platforms in the Solana NFT ecosystem.