Solana Team Set to Open Doors of a Physical Store in New York to Promote Solana and Web3

Source: Solana Spaces / Twitter

 

The team behind open-source blockchain Solana (SOL) is readying to open its physical store in New York City, USA, to the public, in a bid to promote the Solana blockchain and Web3 at large.

The store, dubbed Solana Spaces, is located at a mall in Hudson Yards and was launched in collaboration with the Solana Foundation, a non-profit organization dedicated to the growth of the Solana network.

The shop doesn't seem to be opened yet. Per various reports, the store has so far been open to ‘preview visitors’ only, and per Solana Spaces, 30 previews have been given on Wednesday. Meanwhile, according to Fortune, the shop is set to open today. 

Cryptonews.com has asked Solana for a comment.

According to the store's official Twitter account, Solana Spaces aims to be “the friend” that shows you how to get a wallet, your first airdrop, your first decentralized autonomous organization (DAO) membership, and more.

“Spaces is everyone’s first crypto friend. Inside, you’ll learn how Solana works, what Web3 is. We’ll set you up with a wallet and your first NFTs, and guide you through your first on-chain transactions,” it said earlier this month.

Solana Spaces added that it designed the store to be a "cultural center" and "embassy" for the Solana community.

"We’ll be an event host, a launchpad, and a purveyor of Solana culture – including a whole new set of merch, and frequent limited edition collaborations with brands in and outside of crypto," it said.

The store has also announced Solana-based major NFT marketplace Magic Eden as a launch partner, which would bring NFT collections, including Solana's collection Degenerate Ape Academy, to the store.

Per the above-mentioned Fortune article, the store is filled with branded merch, it features an interactive installation, and its walls are decorated with the Degenerate Ape Academy NFTs.

Solana's native token SOL is currently the ninth largest cryptocurrency by market capitalization with USD 13.68bn. The blockchain was launched as an alternative to the more costly Ethereum (ETH), but is having a hard time living up to that expectation, particularly due to its frequent downtimes.

Meanwhile, SOL is surging higher on the news. At 10:05 UTC on Thursday morning, it is up 8% in 24 hours to USD 39.6. It's down over 6% in a week and up nearly 3% in a month.

SOL 24h price chart. Source: coingecko.com

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