image Source; Dune analytics
Topic: The NFT hype makes Opensea rich - page 2. (Read 622 times)
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
image Source; Dune analytics
.Those who deal with nft's have no choice but to use them but I salute this platform because they didn't became greedy and attracted on the money that they see. they continue to choose their reputation and they became even stronger because of this.
I don't think it's because they have no choice than using it because there are actually many other NFT platforms. however, OpenSea is indeed one of the most popular, has features and an easy interface and regulations that are not too difficult. moreover, if it is related to popularity, then people will also join in using the platform at first. like other market platforms, when many use a platform, people will also come to it. But here, of course, OpenSea is also able to prove that they also provide benefits for NFT activists. Even though they actually make a lot of money. But now, it seems that NFT is not hyped anymore and many people are starting to leave it. Either it will last forever or only during this bearish period. What is certain is that interaction in OpenSea is decreasing and many people have not yet benefited from the sale or investment of their NFT. Maybe some of them met the same fate as the holders of shit coins? 
Every platform starts small but I think the main reason on why opensea became successful is because they are the first to open up a platform like this when nft's begun. Those who deal with nft's have no choice but to use them but I salute this platform because they didn't became greedy and attracted on the money that they see. they continue to choose their reputation and they became even stronger because of this.
Many people have became rich using this platform and these people must be thankful for opensea and nft's but we shouldn't also disregard the losers but that should have taught them a good lesson. I hope those people can still recover and became successful at the end.
Many people have became rich using this platform and these people must be thankful for opensea and nft's but we shouldn't also disregard the losers but that should have taught them a good lesson. I hope those people can still recover and became successful at the end.
I cannot agree with your statement about there being no choice but OpenSea. There is if we are talking about other blockchains. For example, Magic Eden, which is the largest marketplace for Solana and this marketplace is the second largest, after OpenSea, in terms of trading volume. If we're talking about NFT in other blockchains, there's always a choice. OpenSea is mostly focused on NFTs deployed on the ETH blockchain.
publicity is something to be thankful for, yet know that numerous NFTs are inferior today. since NFT is well known individuals appear to fail to remember the pith of workmanship itself. indeed, even opensea itself concedes that there is a ton of garbage on their foundation. individuals transfer something useless, on the grounds that they figure it will sell. on the off chance that it keeps on occurring for an extensive stretch of time, it isn't unthinkable that the NFT publicity will blur.
It makes sense. We can see how many users have used the Opensea platform so far. And we also know how much they make. However, isn't this reasonable and appropriate? They created a platform that is trusted and reputable, and this is not easy. there are lots of rivals in the world of NFT platforms.
We can find a lot of platforms Opensea being one of the most famous and widely used. It's not easy to reach this stage either. many processes have been passed with full of struggles, obstacles, difficulties, and various problems that have been passed.
During this time, through this platform too, many people have made money and become rich. This is also appropriate reciprocity. but if we calculate the nominal, indeed they can get very much. But, as long as what they provide is appropriate, I think it doesn't matter, just like crypto exchanges and wallets. However, if something is not suitable or costs are increasing with the same facility, this must be questioned.
Every platform starts small but I think the main reason on why opensea became successful is because they are the first to open up a platform like this when nft's begun. Those who deal with nft's have no choice but to use them but I salute this platform because they didn't became greedy and attracted on the money that they see. they continue to choose their reputation and they became even stronger because of this.We can find a lot of platforms Opensea being one of the most famous and widely used. It's not easy to reach this stage either. many processes have been passed with full of struggles, obstacles, difficulties, and various problems that have been passed.
During this time, through this platform too, many people have made money and become rich. This is also appropriate reciprocity. but if we calculate the nominal, indeed they can get very much. But, as long as what they provide is appropriate, I think it doesn't matter, just like crypto exchanges and wallets. However, if something is not suitable or costs are increasing with the same facility, this must be questioned.
Many people have became rich using this platform and these people must be thankful for opensea and nft's but we shouldn't also disregard the losers but that should have taught them a good lesson. I hope those people can still recover and became successful at the end.
Opensea is one of the pioneers in NFT marketplace started last 2017 where most projects are busy in so many scam ICOs but opensea creators started very early supporting this unique arts stored in blockchain no one knows its the next trend after ICO and Defi, unfortunately some NFT projects turns out to be a money making machine for other people, imagine selling an image worth nothing putting in a blockchain and worth millions lol,
It is true some of the NFT projects made a lot of money and some were able to sell them for really high valuation, but have you checked the state of the NFT market right now. I bet anyone who spent money during the rally for the NFT will be baffled with the way things have ended up. Check out the NFT trading volume as well in Open Sea, it has plummeted as well and they had to lay off their employees like any other cryptocurrency project.OpenSea Volume Hits Lowest Since June 2021 With $303M in October
OpenSea Trading Volume Down 90% Since January
When everything is really on hype then expect that millions or billions of money is really get involved but thats on the peak but what if the market
turn upside down? This do usually happens.
the community and investors had already done through it.I agree on what Quidat said that in every trend theres always an end to it once the market had seen another trend.
Or there are no other purchasing power from investors where do makes the market be bullish or somewhat able to sustain but on the time that it do lost up confidence
then this is where things becomes worst and you would see on who are the ones who do make see this as an opportunity.
Opensea is one of the pioneers in NFT marketplace started last 2017 where most projects are busy in so many scam ICOs but opensea creators started very early supporting this unique arts stored in blockchain no one knows its the next trend after ICO and Defi, unfortunately some NFT projects turns out to be a money making machine for other people, imagine selling an image worth nothing putting in a blockchain and worth millions lol,
It is true some of the NFT projects made a lot of money and some were able to sell them for really high valuation, but have you checked the state of the NFT market right now. I bet anyone who spent money during the rally for the NFT will be baffled with the way things have ended up. Check out the NFT trading volume as well in Open Sea, it has plummeted as well and they had to lay off their employees like any other cryptocurrency project.OpenSea Volume Hits Lowest Since June 2021 With $303M in October
OpenSea Trading Volume Down 90% Since January
When everything is really on hype then expect that millions or billions of money is really get involved but thats on the peak but what if the market
turn upside down? This do usually happens.
Opensea is one of the pioneers in NFT marketplace started last 2017 where most projects are busy in so many scam ICOs but opensea creators started very early supporting this unique arts stored in blockchain no one knows its the next trend after ICO and Defi, unfortunately some NFT projects turns out to be a money making machine for other people, imagine selling an image worth nothing putting in a blockchain and worth millions lol,
It is true some of the NFT projects made a lot of money and some were able to sell them for really high valuation, but have you checked the state of the NFT market right now. I bet anyone who spent money during the rally for the NFT will be baffled with the way things have ended up. Check out the NFT trading volume as well in Open Sea, it has plummeted as well and they had to lay off their employees like any other cryptocurrency project.OpenSea Volume Hits Lowest Since June 2021 With $303M in October
OpenSea Trading Volume Down 90% Since January
When everything is really on hype then expect that millions or billions of money is really get involved but thats on the peak but what if the market
turn upside down? This do usually happens.
This is why its not really that recommendable on making yourself get hyped with things because if you do buy out on things which are on peak then tendency you would really be
losing up that much or everything goes to zero when the market starts to correct and the hype was already gone.
Opensea is one of the pioneers in NFT marketplace started last 2017 where most projects are busy in so many scam ICOs but opensea creators started very early supporting this unique arts stored in blockchain no one knows its the next trend after ICO and Defi, unfortunately some NFT projects turns out to be a money making machine for other people, imagine selling an image worth nothing putting in a blockchain and worth millions lol,
It is true some of the NFT projects made a lot of money and some were able to sell them for really high valuation, but have you checked the state of the NFT market right now. I bet anyone who spent money during the rally for the NFT will be baffled with the way things have ended up. Check out the NFT trading volume as well in Open Sea, it has plummeted as well and they had to lay off their employees like any other cryptocurrency project.Opensea is one of the pioneers in NFT marketplace started last 2017 where most projects are busy in so many scam ICOs but opensea creators started very early supporting this unique arts stored in blockchain no one knows its the next trend after ICO and Defi, unfortunately some NFT projects turns out to be a money making machine for other people, imagine selling an image worth nothing putting in a blockchain and worth millions lol,
It is true some of the NFT projects made a lot of money and some were able to sell them for really high valuation, but have you checked the state of the NFT market right now. I bet anyone who spent money during the rally for the NFT will be baffled with the way things have ended up. Check out the NFT trading volume as well in Open Sea, it has plummeted as well and they had to lay off their employees like any other cryptocurrency project. 
Opensea is one of the pioneers in NFT marketplace started last 2017 where most projects are busy in so many scam ICOs but opensea creators started very early supporting this unique arts stored in blockchain no one knows its the next trend after ICO and Defi, unfortunately some NFT projects turns out to be a money making machine for other people, imagine selling an image worth nothing putting in a blockchain and worth millions lol,
It makes sense. We can see how many users have used the Opensea platform so far. And we also know how much they make. However, isn't this reasonable and appropriate? They created a platform that is trusted and reputable, and this is not easy. there are lots of rivals in the world of NFT platforms.
We can find a lot of platforms Opensea being one of the most famous and widely used. It's not easy to reach this stage either. many processes have been passed with full of struggles, obstacles, difficulties, and various problems that have been passed.
During this time, through this platform too, many people have made money and become rich. This is also appropriate reciprocity. but if we calculate the nominal, indeed they can get very much. But, as long as what they provide is appropriate, I think it doesn't matter, just like crypto exchanges and wallets. However, if something is not suitable or costs are increasing with the same facility, this must be questioned.
We can find a lot of platforms Opensea being one of the most famous and widely used. It's not easy to reach this stage either. many processes have been passed with full of struggles, obstacles, difficulties, and various problems that have been passed.
During this time, through this platform too, many people have made money and become rich. This is also appropriate reciprocity. but if we calculate the nominal, indeed they can get very much. But, as long as what they provide is appropriate, I think it doesn't matter, just like crypto exchanges and wallets. However, if something is not suitable or costs are increasing with the same facility, this must be questioned.
no doubt they are earning good money. but it is also because they have proven that this platform can deal with huge amount of money and satisfying their customers. because if there will be angry customers, i don't think they will stay this long in the business. if people are using their platform for so long, it means they are doing something right.
It makes sense. We can see how many users have used the Opensea platform so far. And we also know how much they make. However, isn't this reasonable and appropriate? They created a platform that is trusted and reputable, and this is not easy. there are lots of rivals in the world of NFT platforms.
We can find a lot of platforms Opensea being one of the most famous and widely used. It's not easy to reach this stage either. many processes have been passed with full of struggles, obstacles, difficulties, and various problems that have been passed.
During this time, through this platform too, many people have made money and become rich. This is also appropriate reciprocity. but if we calculate the nominal, indeed they can get very much. But, as long as what they provide is appropriate, I think it doesn't matter, just like crypto exchanges and wallets. However, if something is not suitable or costs are increasing with the same facility, this must be questioned.
We can find a lot of platforms Opensea being one of the most famous and widely used. It's not easy to reach this stage either. many processes have been passed with full of struggles, obstacles, difficulties, and various problems that have been passed.
During this time, through this platform too, many people have made money and become rich. This is also appropriate reciprocity. but if we calculate the nominal, indeed they can get very much. But, as long as what they provide is appropriate, I think it doesn't matter, just like crypto exchanges and wallets. However, if something is not suitable or costs are increasing with the same facility, this must be questioned.
https://twitter.com/opensea/status/1597633637469818881
"We’re excited to share that
@BNBCHAIN
🔶 is officially live on OpenSea!"
https://twitter.com/opensea/status/1597633643908063232
"4/ We’re thrilled to bring the BNB community into OpenSea! We can’t wait to see what you all build.
Tag your favorite
@BNBChain
🔶 project below to highlight collections we should be paying attention to 👇"
"We’re excited to share that
@BNBCHAIN
🔶 is officially live on OpenSea!"
https://twitter.com/opensea/status/1597633643908063232
"4/ We’re thrilled to bring the BNB community into OpenSea! We can’t wait to see what you all build.
Tag your favorite
@BNBChain
🔶 project below to highlight collections we should be paying attention to 👇"
Honestly, I'm still confused about Opensea, are they really fair as a global NFT market, because of the many people who complain about the work they make, to sell their NFT to Opensea, even though they have followed the current NFT trend, but how can their work be done? can be accepted by buyers at Opensea..
Well, Opensea is just a NFT marketplace where they are commission from sellers and buyer side, this commission is not that much with respect to the profits earn by sellers and buyers, they charge 2.5% on every transaction. The amount they had earn is almost 1 billion dollar. But the amount of money traded on this platform is more than 17 billion dollars.
Source https://tokenizedhq.com/opensea-statistics/
Source https://tokenizedhq.com/opensea-statistics/
OpenSea is developing well and integrating with other blockchains.
https://twitter.com/opensea/status/1564717997842845696?
"Starting today, we will begin using Seaport for all new listings and offers on Polygon! We’re excited to start using Seaport across multiple blockchains to improve the experience for everyone on OpenSea.
Here’s what you can expect with this move to Seaport "
But no one knows how much NFT will be blocked in 5 years
https://twitter.com/opensea/status/1564717997842845696?
"Starting today, we will begin using Seaport for all new listings and offers on Polygon! We’re excited to start using Seaport across multiple blockchains to improve the experience for everyone on OpenSea.
Here’s what you can expect with this move to Seaport "
But no one knows how much NFT will be blocked in 5 years
That's why we have ma y new NFT marketplace today, see people or devs are just coping other peoples progress, Opensea was a success and that's what motivated others, its not about the success its about the money that Opensea is making, devs are tired of coming up with fresh ideas and that's why I lose interest in most new projects.
https://thetimeshub.in/immunefi-experts-estimated-the-value-of-the-stolen-134-bayc-at-13-6-million/34746/
Immunefi experts estimated the value of the stolen 134 BAYC at $13.6 million
"The cost of 143 tokens from the Bored Ape Yacht Club (BAYC) NFT collection, which the OpenSea marketplace assigned a suspicious activity mark, is $13, 58 million. This estimate was given by specialists from the Immunefi bug bounty platform.
134 out of 143 tokens worth $12.64 million retain this status."
Immunefi experts estimated the value of the stolen 134 BAYC at $13.6 million
"The cost of 143 tokens from the Bored Ape Yacht Club (BAYC) NFT collection, which the OpenSea marketplace assigned a suspicious activity mark, is $13, 58 million. This estimate was given by specialists from the Immunefi bug bounty platform.
134 out of 143 tokens worth $12.64 million retain this status."
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that’s kinda the reward if you becomes an early bird in making such platforms, this platform can become this popular surely because a reason, and the fact that they are among the longest standing platform itself already speaks a lot the reason it could become this popular and become the number 1 choice for most of people trying to get into NFT.
this kind of thing happened with bitcoin too, being called as number one cryptocurrency because it’s the first coin ever created, and even after so many altcoins has been released in order for competing with btc, it’s still the number one regardless.
just consider it as a reward for innovation because creating an NFT marketplace itself is already such a breakthrough. A platform that can get a big hype will be so popular and this will create a domination by this platform to the market coz demand get centralized around it.
this kind of thing happened with bitcoin too, being called as number one cryptocurrency because it’s the first coin ever created, and even after so many altcoins has been released in order for competing with btc, it’s still the number one regardless.
just consider it as a reward for innovation because creating an NFT marketplace itself is already such a breakthrough. A platform that can get a big hype will be so popular and this will create a domination by this platform to the market coz demand get centralized around it.
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