When OpenSea hinted at an impending announcement last week, many in the community speculated that they would launch a token or airdrop. Instead, they surprised users with a new feature called Deals.

The feature lets users exchange an NFT or a combination of NFTs from their collection for another user’s NFT or a collection of theirs directly on the platform. Additionally, users can add Wrapped Ether (WETH) on top of the offers. 

With this move, OpenSea’s team is creating a more direct peer-to-peer trading experience. Users can view, offer, and accept trades directly on OS, eliminating the need to venture onto potentially scam-ridden websites or to negotiate trades through direct messages, a practice that has led to many to have been swindled in the past.

Right on time or too late?

OpenSea’s announcement has been met with approval by many in the Web3 community, as it adds a layer of ease, flexibility, and security to NFT trading on their platform.

However, some have responded that this update came “too late,” as users have wanted a feature like this for a long time. Others noted that they wish OpenSea had created a token, as was initially speculated. Despite this criticism, most users still acknowledge the importance and benefits of Deals.

While the timing of this update can be debated, one thing is certain: a more secure and trustworthy trading ecosystem is an indisputable win for all parties involved. This move not only bolsters the confidence of current users but may also attract a new audience looking for a safer, more reliable trading experience.

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