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At OpenSea, we're excited about a brand new type of digital good called a non-fungible token, or NFT. NFTs have exciting new properties: they’re unique, provably scarce, tradeable, and usable across multiple applications. Just like physical goods, you can do whatever you want with them!
Dive into the deep blue sea of crypto and join in the Arbitrum Hunt! Can you earn enough reputation to find, rescue and mint Captain Jacques! Swap whitelisted campaign tokens on OpenOcean via Arbitrum and collect an NFT for each unique token.
Feb 9, 2022 · OpenSea is an NFT marketplace that keyed into the NFT movement early enough to establish itself as not only the preferred choice for NFT traders but also the favored destination for NFT...
- What Is Opensea?
- Opensea Fees
- Opensea Controversies
- Advantages of Opensea
- Disadvantages of Opensea
- Opensea vs. Competitors
- Wallets That Support Opensea
OpenSea is a user-friendly NFT platform that’s great for beginners and experts alike. You can set up an account for free and start browsing their huge selection of NFTs immediately. The platform has a good suite of tools to create NFTs in a process called minting. There’s a free minting feature called “lazy minting,” which reduces the onerous gas f...
OpenSea charges a fee equal to 2.5% of every transaction. You must also pay the gas fee for completing NFT transactions with Ethereum (ETH). And if you were hoping that gas fees would be reduced with Ethereum’s network upgrade, known as the merge, think again. The Ethereum Foundation clarified in August 2022 that the mergewould not reduce gas fees,...
As the biggest NFT marketplace out there, OpenSea has not been a stranger to controversy. There have been serious allegations of insider trading lodged against a product manager as well as issues with plagiarism and spam. A former product manager was charged over allegations he bought NFTs from collections he subsequently chose to feature on the Op...
Several payment methods. The U.S.-headquartered marketplace also accepts multiple payment methods—including ETH, SOL and Avalanche (AVAX) and stablecoins, such as USD Coin(USDC) and DAI.Free minting.Creators can even launch collections with ease on the platform. According to the site, “The OpenSea Collection Manager allows creators to make NFTs without any upfront gas cost, as the...High trading volume.But the main advantage to OpenSea is the network effects it carries by its sheer size. Much like Amazon brings advantages in that it offers almost anything you could want, OpenS...Very centralized exchange.OpenSea’s size can be seen as a disadvantage for some. Cryptocurrency is built around the idea of decentralization—a distribution of power to the masses rather than large,...Delists some NFTs by accident. Pitfalls of this can be seen regarding controversial decisions to censor or ban certain NFT collections. OpenSea even delisted several Azuki NFTs, equivalent to a blu...Costly fees.The market strength that OpenSea possesses means that it has pricing power when it comes to fees. While this has not transpired thus far, with its 2.5% transaction fee large but not out...High gas fees.While high gas fees are a result of the Ethereum blockchain upon which most NFTs reside, rather than OpenSea itself, it’s still a drawback of transacting on the platform.Aside from OpenSea, Rarible is perhaps the most recognized NFT marketplace. One notable difference compared to OpenSea is that there are no extra steps to facilitate credit card and debit card transactions. To purchase NFTs on OpenSea with a credit or debit card, users will need to use MoonPay. But this service is restricted geographically and isn’...
Many different crypto walletscan be used with OpenSea. A few include MetaMask, Coinbase Wallet, Phantom and TrustWallet, to name several examples. If you are looking for a comprehensive list, the support sectionof OpenSea has more information.
- Dan Ashmore
Feb 2, 2022 · The problem was the NFT marketplace OpenSea, which was suffering a database outage. The outage brought down OpenSea’s image-loading API, jamming up any service that relied on it to upload tokens.
OpenSea is an American non-fungible token (NFT) marketplace headquartered in New York City. The company was founded by Devin Finzer and Alex Atallah in 2017. [2][3] OpenSea offers a marketplace online allowing for non-fungible tokens to be sold directly at a fixed price, or through an auction.
