OpenSea / 19 posts found
OpenSea Pro: The NFT Giant’s Answer to Blur?
OpenSea has been stuck between a rock and a hard place for the last six months. In that time, its first real competitor — Blur, the NFT marketplace and aggregator — broke onto the scene, siphoning off the majority of trading volume from the once untouchable ruler of the NFT seas. The development caused a stir in the NFT community in more ways than one; renewed discussion on creator fees (royalties) have come to the fore, complaints of market manipulation at the hands of power traders abound, and questions of just how web2 the NFT community wants Web3 to be […]
OpenSea: The Ultimate Guide to Its Tools, Features, and Controversies
If you know Web3, you know OpenSea. Since its launch at the end of 2017, the NFT marketplace has largely been the poster child for the world of Ethereum and crypto art, and it’s got the numbers to prove it. OpenSea’s total historical trading volume sits comfortably at just shy of $41 billion, according to Dune analytics. To put that in perspective, KnownOrigin, one of OpenSea’s competitors that launched around the same time, has a total trading volume of just over $30 million. Having dominated the market for almost six years, OpenSea has been as influential to the NFT ecosystem […]
BREAKING: OpenSea Announces Major Changes to Fees and Creator Royalties
Today (Feburary 17, 2023), the world’s largest NFT marketplace, OpenSea, made major waves throughout Web3. Without warning, they unveiled significant changes to their creator royalty and fee structure — changes that will have a dramatic impact on both collectors and creators who use the platform. Just moments ago, the company published a Twitter thread on their feed. In it, they stated that the 2.5 percent fee that is tacked on to every transaction on OpenSea would be dropped to zero for a limited time. But the announcements didn’t end there. Following up on a controversial plan that the company unveiled […]
NFT Marketplace Wars: Blur Tells Users to Ban OpenSea
Yesterday, NFT marketplace Blur finally allowed users to redeem care packages for $BLUR, the platform’s native token. The event was highly anticipated and resulted in a significant market surge over the last month. Ultimately, the royalties-optional marketplace secured over $430 million in trading volume in the last 30 days. And yesterday, the money continued to flow. The event saw several top traders rake in more than $1 million worth of tokens. According to data from DappRadar, Blur’s 24-hour trading volume was around $9.5 million, making it second only to OpenSea, whose trading volume was approximately $12 million. Now, it seems that Blur is going […]
What NFT Marketplaces Support Creator Royalties? A Guide
Creator royalties: Love them or hate them, it cannot be denied that they provide central appeal for artists looking to make a blockchain-based living from their craft. Through royalties, creators receive recurring income whenever their works change hands through the various NFT marketplaces that populate the blockchain. This makes it possible for many in Web3, regardless of status, to sustain themselves from project to project. In 2022, though, creator royalties came under fire. Emerging as a major point of contention within the NFT space, the decisions of major marketplaces effectively shook up the established Web3 royalty dynamic, making it clear […]
The Fall of FTX Has Revealed Web3’s True Colors
For many, the crypto world feels like it’s in shambles. The high drama between rival exchanges Binance and FTX has set the stage on which it played out fully ablaze. Over the last few days, repeated revelations have wiped out billions in funds, sent the Web3 community reeling, and irrevocably altered the future of crypto and NFTs. It was the last thing the space needed. The dramatic fall from grace came during a community-wide effort to push back against OpenSea’s recent announcement that it would likely stop enforcing creator royalties for existing collections as of December 8. On top of […]
We Need to Talk About OpenSea and Creator Royalties
The Alpha: On November 6, OpenSea announced in a blog post and on Twitter that it would introduce a tool for new collections to enforce creator fees (artist royalties) on its platform. The tool is a snippet of code that represents OpenSea’s first attempt at on-chain enforcement of royalties in NFT transactions. Starting at 12:00 p.m. ET on November 8, the platform is enforcing creator fees for new collections that use an on-chain enforcement tool like the one it’s now offering. OpenSea gave itself a deadline of December 8, 2022, to come out with a firm stance regarding how it […]
How to Stream in Web3: A Guide to the Best NFT Streaming and Music Marketplaces
Marketing models are changing. And the rise of Web3, compounded by the increasing popularity of non-fungible tokens (NFTs), has pushed the entire creative economy into a bottleneck of shifting norms, and it’s about time. The music industry generates roughly $43 billion in revenue; however, only 12 percent of that goes to artists. We needed new models and options when it comes to Web3’s NFT music. Although many people still use Spotify or Apple Music for their audio needs, a few incredibly powerful Web3 streaming platforms and NFT marketplaces have risen to prominence in recent years, taking the world by storm. […]
OpenSea’s Stolen Item Policy Reveals a Stubborn Problem
The Web3 world is doing its best to come up with solutions to one of the crypto ecosystem’s biggest problems: theft. More than 46,000 people have reported losing more than $1 billion in crypto scams since 2021, according to a recent report released by the Federal Trade Commission (FTC). The problem has gotten so bad that the regulatory agencies and lawmaking bodies in the U.S. are now playing a game of hot potato by asking each other for help to find new solutions. NFT marketplaces are also grappling with ways to address theft on their platforms. OpenSea recently updated its […]
Everything to Know About the Solana Blockchain and NFTs
Solana is already one of the world’s most popular blockchains when it comes to non-fungible tokens (NFTs) and decentralized finance (DeFi). It’s currently ranked as the fourth-most popular cryptocurrency globally, and there’s no question that interest in Solana NFTs, in particular, is heating up. Users want platforms with faster and cheaper transactions, and Solana answers both of these demands. As a result, a number of leading platforms are moving to — or already do — integrate with Solana. And as more and more integrations are added, users move to Solana at ever-increasing speeds. In this respect, Solana NFTs are one of […]