The NFT trading platform on Solana, Tensor, has announced plans to issue the $TNSR token, granting owners governance participation rights. Details on a potential token distribution are yet to be clarified, with more information expected soon. According to Tensor Foundation, which supports the marketplace, Tensor protocols play a crucial role in the NFT trading infrastructure, representing a new asset class. They are based on the Solana blockchain, known for its throughput, speed, and low fees, essential for widespread adoption.

Tensor's governance will soon transition to community control via the $TNSR token. Furthermore, Tensor Foundation aims to foster a community of creators and developers in the NFT space. Launched in 2022 with support from companies like Placeholder VC and Solana Ventures, Tensor raised $3 million in its initial funding round.

Over the last 90 days, the platform facilitated over $2 billion in NFT transactions, accounting for more than 70% of Solana's total NFT trade volume, marking significant growth from the previous year. NFT trading volumes on Solana, historically lagging behind Ethereum, have shown steady growth, with monthly trades exceeding $200 million from December to February.