New York City will soon welcome a Retail store in Solana and educate anyone new to the crypto
For the longest time, the crypto industry’s presence was limited to the virtual world. Things could be changing drastically now. With governments warming to these assets, networks can finally establish themselves without difficulty. While cryptocurrency exchanges already have a strong global presence, the Solana [SOL] network was looking to shake things up with its upcoming store. Solana Spaces, a store selling everything Solana, has opened in New York City’s Hudson Yards. The store has yet to open to the public. Over the weekend, however, a select group of 30 people was given a sneak peek at the store.
A variety of stations can be found in the store. This includes a private booth for those who want to configure their Phantom wallet. In addition, there was merchandise featuring popular crypto-verse phrases such as “WAGMI,” “probably nothing,” and others. Solana’s latest move comes as no surprise given its stellar growth over the years. Despite its youth, it has emerged as a direct competitor to the world’s largest altcoin, Ethereum [ETH].
It should be noted that this is not Solana’s first attempt to establish a physical presence in the world. The network recently announced the release of a cryptocurrency smartphone. This smartphone would also have Web3 capabilities. It is expected that the Hudon Yards’ Solana Spaces will sell these smartphones shortly.
Solana’s daily increase of 9%
Following a long stay in the red sea, the crypto market has finally found some relief. Solana followed suit, rising by nearly 9% in the last 24 hours. SOL was trading at $39.87 at the time of publication. The persistence of the ongoing notion could easily push Solana above $40 once more. It should be noted, however, that Solana is still trading about 84 percent below its all-time high of $260.06. The potential use of SOL at the latest store is expected to raise the asset’s price to some extent.
Isn’t there much use for anything IRL in the vast world of Web3? Just ask the team behind Solana, which is launching a permanent physical retail space dedicated to all things cryptocurrency-related. The store opens to the public at The Shops, a fancier-than-average mall at Hudson Yards in Manhattan, but that was able to get a tour a day early.
Solana bills itself as a faster alternative to the Ethereum blockchain, as well as offering smart contracts that power NFTs and other decentralized applications. Solana currency, SOL, rose to be among the top ten in terms of market value over the last year. As for the store, which may appear to be a far-fetched idea, found it to be a pretty cool spot. It has the feel of any other upscale retail store, but it accepts cryptocurrency and an NFT gallery showcasing the Degenerate Ape Academy collection across its walls.
Upon entering, we were struck by an interactive installation that depicted what was happening on the Solana blockchain in real-time, including transactions and NFTs minted. Throughout the store, there are various stations aimed at introducing people to the cryptocurrency space, such as a private booth where people can set up a Phantom wallet (the most popular Solana wallet) and write down their seed phrase (a secret chain of words that acts as a pin) on a tiny card for safekeeping.