The NFT hype makes Opensea rich | Bitcointalksearch.org

o48o

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Quote from: zasad@ on August 23, 2023, 06:13:23 AM

https://twitter.com/opensea/status/1692598153244020776
"Last year we added several chains, including BNB Smart Chain (BSC), after seeing excitement from the wider NFT ecosystem.

But as our space evolves, we need to align resources with the most promising efforts. We’ve decided the cost to continue supporting BSC outweighs the impact."

____
What does it say? If one of the large NFT marketplaces refuses to support a very large ecosystem. ( a rhetorical question)

That they don't like the ecosystem and they think that there are already enough of them, probably enough to saturate the market and confuse and divide invistors.
But that's a quite bold move. I wonder what's the backlash from CZ is going to be, as i think there most certainly will be something.

I don't think anyone want to cross that guy who brought huge exchange down by hinting something in a tweet. Although i am not sure what he could do.

JunkieMiner

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Through opensea many people trade their NFT's and almost it is a very good website for the trading of NFT's and also its has some great features as well. Like we can see our all NFT's that is in different chains like eth, optimism, arbitrium's and many more chains are yet to come. So, NFT hype is almost on the top now.

avp2306

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Expect this since Opensea owner risk to join the hype, that's the reason why now they are harvesting the fruit of the efforts they insert on the platform they created. But they are not the only one benefiting the platform they created since there are a lot of people earned good cash by continuously trading on their platform so its still a win situation between user also to its creator. I miss the NFT hype so let see what will be next on them and if NFT will still be famous this year.

zasad@

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https://twitter.com/opensea/status/1692598153244020776
"Last year we added several chains, including BNB Smart Chain (BSC), after seeing excitement from the wider NFT ecosystem.

But as our space evolves, we need to align resources with the most promising efforts. We’ve decided the cost to continue supporting BSC outweighs the impact."

____
What does it say? If one of the large NFT marketplaces refuses to support a very large ecosystem. ( a rhetorical question)

Cling18

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Quote from: lalabotax on January 08, 2023, 04:57:24 PM

Quote from: Dave1 on January 03, 2023, 03:14:16 PM

I guess that's the lesson here in crypto market, hype the buzzword, it will just make more money to every entity behind, like in this case, the Opensea market who suddenly become a billion dollar company because of NFT.

The hype of NFT at that time was really very high and even more people and companies were interested in creating and developing NFTs. We can see how more and more people are getting rich because of NFTs. And they usually use the OpenSea platform as one of them. However, due to the large number of users, OpenSea gains a lot. However, this is not an easy thing because OpenSea has also gone through various processes up to that stage

We can't deny the fact that the hype of NFTs could be beneficial to us, users, investors, platform owners, and more. We could notice that as Opensea is gaining a lot, more NFT supporters are also gaining good profit. As per my realization, it will still be a wise move to take advantage of the hype and make money from it because we all know that NFT hype wouldn't last a long time.

zasad@

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https://cointelegraph.com/news/opensea-implements-0-fees-to-win-over-nft-userbase-lost-to-blur
OpenSea implements 0% fees to win over NFT user base lost to Blur
"NFT marketplace Blur surpassed OpenSea in daily ETH trading volume as users — anticipating greater returns on their NFT investments — are looking for a trading arena that works in their favor.
Major nonfungible token (NFT) marketplace OpenSea announced a massive structuring around lower platform fees and greater creator earnings as competing marketplaces continue to drain away its once dominant user base."

lalabotax

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Quote from: Dave1 on January 03, 2023, 03:14:16 PM

I guess that's the lesson here in crypto market, hype the buzzword, it will just make more money to every entity behind, like in this case, the Opensea market who suddenly become a billion dollar company because of NFT.

The hype of NFT at that time was really very high and even more people and companies were interested in creating and developing NFTs. We can see how more and more people are getting rich because of NFTs. And they usually use the OpenSea platform as one of them. However, due to the large number of users, OpenSea gains a lot. However, this is not an easy thing because OpenSea has also gone through various processes up to that stage

beerlover

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Quote from: Ryu_Ar1 on February 09, 2022, 03:16:33 PM

In the last few months NFT has become one of the hype that cannot be underestimated. Their hype is too big and not even a few people can become billionaires from this NFT and now perhaps the most popular example is NFT Magic Ghazali Everyday who does sell photos of himself and Benjamin Ahmed with his Weird Whales work.

Of course, with this NFT Hype, several NFT marketplaces have started to soar and one of them is Opensea.
Openseea became very busy with the NFT Hype even Opensea's All-Time NFT Sales Volume Passed $20 Billion since they were created in 2017.
Of course, this is an extraordinary record for them because they are now one of the leading markets now and outperform its current competitor, NFT Looksrare.

As always stated before, during the California gold rush, the people who made the most money were the shovel makers. You are not going to make as much money as you can from being involved with NFT investment, you will make a lot more if you could provide a platform for NFT investors though.

I once did something similar with a few friends back in the day, it was for ICO period during 2016-2018 era and we had people list their ICO on our website, and it was a simple advertisement website, so we didn't make too much but we got a whole lot of clicks, more than we ever assumed we could. So all in all, its better to be opensea than to be owner of any nft collection.

oaz7t

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Every time man! Whenever I think this is going to be failure they will come up with new billionaires and millionaires along the way. Same was with the NFT's actually. But I have feeling that this has one major set back behind the idea. For example, whenever something new comes that this has one major set back behind the idea. For example, whenever something new comes up in the crypto space then it is hyped in the initial adoption phase or let's say 3-4 years and then the spark goes off. Now, whoever is early adopter of the bitcoin is todays billionaires in similar ways whoever invested in NFT's at very initial stages is now becoming billionaires or at least millionaires. However, this is all about who got on train at the first. Later, when we try we are just feeding the wallets of those early adopters. This is a game actually, the first one always wins the race here

Doan Ha

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Quote from: Johnyz on February 09, 2022, 04:49:49 PM

Opensea also makes a lot of people rich and this has been a great platform to sell your NFTs because there are many users who are willing to buy some NFTs. This is their Business, they did a great job and now they are enjoying the fruit of their work.

Scams, fake projects are already part of this market, if you are afraid to fall for that better to study first before investing or buying any NFTs, don’t just follow the hype lear from it.

OPENSEA is indeed very friendly to users, the information of NFT is relatively timely, and it supports a variety of payment methods. What attracts me the most is that many NFT works of ordinary users suddenly become very popular without knowing why, and they have great benefits. This place is full of magic.

d3nz

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Quote from: glendall on January 05, 2023, 10:41:06 AM

Quote from: royalfestus on January 02, 2023, 05:00:23 PM

The volume of NFT trading through OpenSea was more than 90% in January, 2022. Its dominance has shrunk significantly in ten months, with several serious competitors emerging within a year including: LooksRare, x2y2, MagicEden, blur_io. It could indicate the increase in market sizes that will cut across different blockchains

image Source; Dune analytics

I think that opensea's market dominance can no longer be maintained because there will be many platforms that offer convenience, maybe even simpler, and more economical,
as we know the hype for NFT is also not like the beginning of the year and this doesn't only happen to NFTs I think altcoins are like that too
Let's see what the trend for 2023 will be

A lot of NFT pop-ups on the market really take down all of their value and it's a huge loss if you bought $10,000 NFT before which might be $1 today. We'll see what's gonna trend for this year and hope that there will be no more P2E since it will just create hype again and more investors will take a loss for sure.

glendall

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Quote from: royalfestus on January 02, 2023, 05:00:23 PM

The volume of NFT trading through OpenSea was more than 90% in January, 2022. Its dominance has shrunk significantly in ten months, with several serious competitors emerging within a year including: LooksRare, x2y2, MagicEden, blur_io. It could indicate the increase in market sizes that will cut across different blockchains

image Source; Dune analytics

I think that opensea's market dominance can no longer be maintained because there will be many platforms that offer convenience, maybe even simpler, and more economical,
as we know the hype for NFT is also not like the beginning of the year and this doesn't only happen to NFTs I think altcoins are like that too
Let's see what the trend for 2023 will be

justdimin

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Quote from: Ryu_Ar1 on February 09, 2022, 03:16:33 PM

Of course, with this NFT Hype, several NFT marketplaces have started to soar and one of them is Opensea.
Openseea became very busy with the NFT Hype even Opensea's All-Time NFT Sales Volume Passed $20 Billion since they were created in 2017.
Of course, this is an extraordinary record for them because they are now one of the leading markets now and outperform its current competitor, NFT Looksrare.

Opensea deserves every single dime they have because during the NFT period they became so big that everyone else wanted to copy them and be big but nobody passed them. There were some competitions like rarible and all and they were big too, not like they were small but they didn't catch up with Opensea.

This is a success story and if they are good enough to be the biggest during a period like this then there is nothing else we should be worried about. They deserved their time at the top, but now NFT is not that big and I am sure they are still making more money even on their worst days than I would make in a year but they are not making the peak neither anymore.

dunfida

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Quote from: Dave1 on January 03, 2023, 03:14:16 PM

Quote from: avikz on January 03, 2023, 12:35:37 PM

Quote from: My ThuiHa on January 03, 2023, 03:29:49 AM

It can only be said that NFT is catching the trend of the era of cryptocurrency. “Trading is done on unregulated platforms like OpenSea and Nifty Gateway, which are not licensed by any government agency.” Any influencer publicity can lead to price increases. Everyone knows about risks, but not everyone can avoid them.

NFT is a bluff! A complete scam and indeed a marketing buzzword. Those who have invested during early stage, made millions just like the ICO boom. But right now, it's completely useless! Opensea just enjoyed the perks of being a pioneer in this field and made millions of dollars out of pure crap.

Also as rightly mentioned, NFT is heavily prone to market manipulation. Influencers and celebrities are milking the commoners by influence while actual pieces of work are getting ignored.

I guess that's the lesson here in crypto market, hype the buzzword, it will just make more money to every entity behind, like in this case, the Opensea market who suddenly become a billion dollar company because of NFT.

So for sure the market hasn't learn it's lesson yet from the hype and it's going to be cyclical because in the future, we might hear another crypto buzz word and everyone will be running and will FOMO.

And the cycle would continue and expect that if someone dies and wither away when it comes to its hype and interest then there's always something that would be replacing which people never ever learn and there are

investors who do fully put up all of their funds and investments when they get fomoed which is something that you shouldnt really make yourself do such stuff because if we do look
on what happened on that NFT hype then it is really just a total disaster into those people who had bought ridiculously amount of those JPEG pictures. LOL!

Dave1

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Quote from: avikz on January 03, 2023, 12:35:37 PM

Quote from: My ThuiHa on January 03, 2023, 03:29:49 AM

It can only be said that NFT is catching the trend of the era of cryptocurrency. “Trading is done on unregulated platforms like OpenSea and Nifty Gateway, which are not licensed by any government agency.” Any influencer publicity can lead to price increases. Everyone knows about risks, but not everyone can avoid them.

NFT is a bluff! A complete scam and indeed a marketing buzzword. Those who have invested during early stage, made millions just like the ICO boom. But right now, it's completely useless! Opensea just enjoyed the perks of being a pioneer in this field and made millions of dollars out of pure crap.

Also as rightly mentioned, NFT is heavily prone to market manipulation. Influencers and celebrities are milking the commoners by influence while actual pieces of work are getting ignored.

I guess that's the lesson here in crypto market, hype the buzzword, it will just make more money to every entity behind, like in this case, the Opensea market who suddenly become a billion dollar company because of NFT.

So for sure the market hasn't learn it's lesson yet from the hype and it's going to be cyclical because in the future, we might hear another crypto buzz word and everyone will be running and will FOMO.

JunkieMiner

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Surely opensea is the best marketplace I have seen fir buying and selling NFTs, where some projects at the hype gain a lot of potential. I have seen most of the projects on Nfts types that they were not at that hype at the start but then they start growing after some time at the opensea marketplace which is a good step.

avikz

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Quote from: My ThuiHa on January 03, 2023, 03:29:49 AM

It can only be said that NFT is catching the trend of the era of cryptocurrency. “Trading is done on unregulated platforms like OpenSea and Nifty Gateway, which are not licensed by any government agency.” Any influencer publicity can lead to price increases. Everyone knows about risks, but not everyone can avoid them.

NFT is a bluff! A complete scam and indeed a marketing buzzword. Those who have invested during early stage, made millions just like the ICO boom. But right now, it's completely useless! Opensea just enjoyed the perks of being a pioneer in this field and made millions of dollars out of pure crap.

Also as rightly mentioned, NFT is heavily prone to market manipulation. Influencers and celebrities are milking the commoners by influence while actual pieces of work are getting ignored.

My ThuiHa

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It can only be said that NFT is catching the trend of the era of cryptocurrency. “Trading is done on unregulated platforms like OpenSea and Nifty Gateway, which are not licensed by any government agency.” Any influencer publicity can lead to price increases. Everyone knows about risks, but not everyone can avoid them.

Desmong

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Opensea is one of the largest NFT platform where we can buy different NFT projects and they are making there money in huge profits. We also have Binance which that has an NFT platforms where we can buy NFT projects. There are people that has so many holdings in NFT projects so we need to be prepared and ready for them.

sajeeb21

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it is a risk that they feel because I am sure they already know that things like this hype that are happening are of course on average manipulation and indeed only for profit (just like the meme coin that applies Pump and Dump) and when they get stuck it's their risk of getting into the hype.

Topic: The NFT hype makes Opensea rich (Read 647 times)