OpenSea advanced NFT marketplace sparks mixed community reactions


05 April 2023 10:46, UTC


Studying time: ~2 m

In one other try and win again its customers from its budding nonfungible token (NFT) market competitor Blur, OpenSea rebranded Gem V2 into OpenSea Professional, triggering blended responses from the group.

On April 4, OpenSea launched its superior NFT market aggregator OpenSea Professional. The platform launched new options and instruments and allowed customers to record in OpenSea via the brand new platform with 0% charges for a restricted time.

Many had been excited in regards to the new platform and expressed their sentiments on Twitter. A group member congratulated the NFT market and stated that it’s going to improve customers’ expertise inside the NFT house. Furthermore, one other person expressed how they’ve all the time appreciated Gem as an NFT aggregation platform. The group member stated that they prefer it extra now as OpenSea is giving it the fitting precedence.

Associated: Blur runs after OpenSea market share, however its success relies on upcoming governance proposals

Whereas some celebrated the brand new growth, not everybody was pleased with the brand new transfer from OpenSea. In a tweet, one group member argued that the NFT market has “utterly didn’t rock the boat.” One other group member Samit Max Patel stated that the platform appears extra like buying and selling instruments and argued that it must be about artwork and artists. Patel tweeted:

When are you going to help the artists? The platform appears nice nevertheless it’s all change into like buying and selling instruments when it must be in regards to the artwork.

— Samit Max Patel (@iamsamitpatel) April 4, 2023

Aside from optimistic and unfavourable sentiments, group members additionally expressed their anticipation as to the place the NFT market wars between OpenSea and Blur are headed. A person even tagged Blur on Twitter, asking about their subsequent transfer. In the meantime, NFT strategist Hunter Solaire stated that this battle is headed in the direction of extra enchancment inside the house.

Hunter Solaire commenting on the NFT market wars. Supply: Twitter

OpenSea acquired Blur in April 2022 with the intention of catering to extra seasoned NFT collectors and enhancing their expertise. Gem allowed merchants to purchase NFTs throughout completely different marketplaces and numerous collections inside a single transaction, reducing the required fuel charges.

Some imagine that the transfer is one other response to the expansion of its rival NFT market Blur which surpassed OpenSea’s each day Ether (ETH) buying and selling quantity on Feb. 18. {The marketplace} additionally applied different methods like reducing the platform’s charges and giving extra earnings to creators to win again its customers misplaced to Blur.

Journal: Finest and worst international locations for crypto taxes — Plus crypto tax suggestions

Subscribe to our mailing list to receive new updates and special offers

We don’t spam! Read our [link]privacy policy[/link] for more info.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
You have not selected any currencies to display