OpenSea / 23 posts found
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 […]
OpenSea Just Laid Off 20% of Its Staff
OpenSea has let 20 percent of its staff go, in a colossal decision to weather the crypto winter that everyone in the NFT space is living in, according to a tweet from Co-Founder and CEO OpenSea Devin Finzer. And while the broader context of a market downturn has many worried about the wider Web3 and NFT space, Finzer stressed his belief that we’re in for an “explosion in innovation and utility across NFTs,” hinting at a brighter future for everyone. Today is a hard day for OpenSea, as we’re letting go of ~20% of our team. Here’s the note I […]
Everything to Know About OpenSea’s Massive Data Breach
Last night, OpenSea — widely regarded as the world’s most popular NFT marketplace — dropped a bombshell of a blog post. According to their report, they use Customer.io as an email vendor. The problem? One of the vendor’s employees “misused their employee access to download & share email addresses [of OpenSea’s userbase] with an unauthorized third party.” Ultimately, the scale of the security breach seems to be simply massive. A large chunk of OpenSea’s active user base of over 1.5 million, in addition to anyone who subscribed to its newsletter, may have had their email address compromised. “If you have […]
The Most Absurd and Wonderful Takes on Goblintown NFTs
For those in the NFT space that have been living under a digital rock, a bizarre project recently took the community by storm and is on pace to become the next blue-chip collection. It’s Goblintown: a PFP collection of goblins obsessed with “marking their territory” (for lack of a better description). Here’s a quick roundup of some of the most absurd, bizarre, and wonderful takes we’ve caught on social media heralding the arrival of our new goblin overlords. Entering Goblintown This collection doesn’t just look strange — almost every aspect of it seems to be out of left field. From […]
Goblintown Derivatives Have Taken Over OpenSea’s Volume Chart
The Goblintown NFT project has been a breath of fresh, irreverent air to a community weighed down from the effects of a deepening crypto bear market. Amidst tense and often joyless debates on the roles that utility and roadmaps can or should play in NFT projects, Goblintown has swung into the mix with an acerbically playful wink. “No roadmap. No utility. No Discord. CC0,” states the project’s website, the address of which ends in “.wtf.” Plus, the NFTs themselves are a bunch of silly disheveled goblins that so resemble the aesthetic of Beavis and Butthead that people are (rather wildly) […]
BREAKING: FBI Charges OpenSea Employee With Insider Trading
A former OpenSea employee has been charged with insider trading by the FBI. Insider trading is one of the oldest and most pervasive white-collar crimes in existence, making this arrest one of the first instances of conventional laws being applied to punish bad actors in the NFT space. The nature of the crime Earlier this morning, former OpenSea product manager Nathaniel Chastain was arrested in the city of New York for allegedly using confidential knowledge gained from his post working for the marketplace to his advantage. Specifically, he’s been charged with one count of wire fraud, and one count of […]
The Most Expensive NFT Thefts of All Time
As the NFT community continues to grow, so too does the number of bad-faith actors hoping for a piece of this multi-million-dollar pie. As a result, NFT thefts are getting more and more expensive. In some cases, people have lost millions. If you’re looking to get started building an NFT collection of your own, the first thing you’ll need to be wary of is rug pulls and scams within the community. But once you navigate past the NFT scams and successfully secure digital items you are about, you’ll need to be even more diligent. Remember: In Web3, third parties won’t […]