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

The team behind open-source blockchain Solana (SOL) is preparing to build a real shop in New York City, USA, to promote the Solana blockchain and Web3 in general.

Cryptocurrency news - Solana SOL

The Solana Spaces shop, situated in Hudson Yards, was created in partnership with the Solana Foundation, a non-profit organization committed to the expansion of the Solana network.

The business does not seem to be open yet. The shop has only been available to 'preview guests,' and according to Solana Spaces, 30 previews were granted on Wednesday. Meanwhile, Fortune reports that the store will open today.

Solana Spaces intends to be "the buddy" that teaches you how to obtain a wallet, your first airdrop, your first decentralized autonomous organization (DAO) subscription, etc, according to the store's official Twitter account.

"Everyone's first crypto companion is Spaces." Inside, you will discover how Solana works and what Web3 is. "We shall provide you with a wallet and your first NFTs, as well as walk you through your first on-chain transactions," the company said earlier this month.

Solana Spaces went on to say that the shop intends to be a "cultural hub" and "embassy" for the Solana community.

"We shall be an event host, a launchpad, and a supplier of Solana culture," it stated, "with a completely new collection of apparel and regular limited edition collaborations with businesses in and outside of crypto."

Additionally, the company has unveiled Magic Eden, a Solana-based NFT marketplace that will add NFT collections to the site, including Solana's collection Degenerate Ape Academy.

The shop is loaded with branded merchandise, has an interactive display, and its walls are covered with Degenerate Ape Academy NFTs.

With a market value of USD 13.68 billion, Solana's native token SOL is now the ninth biggest cryptocurrency by market capitalization. The blockchain was introduced as a replacement for the more expensive Ethereum (ETH), but it is struggling to live up to that ambition, notably owing to frequent outages.

Meanwhile, SOL is rising higher as a result of the news. There was an 8 percent increase in 24 hours to USD 39.6 at 10:05 GMT on Thursday. It's down more than 6% in a week and up about 3% in a month.

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