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

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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.

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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.

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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.

royalfestus

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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

nurilham

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Quote from: savetheFORUM on December 02, 2022, 12:22:22 AM

.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?

Xal0lex

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Quote from: savetheFORUM on December 02, 2022, 12:22:22 AM

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.

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.

sajeeb21

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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.

savetheFORUM

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Quote from: Rengga Jati on November 30, 2022, 06:43:23 PM

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.

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.

Fatunad

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Quote from: abel1337 on December 01, 2022, 05:30:29 PM

Quote from: Quidat on December 01, 2022, 05:13:27 PM

Quote from: eaLiTy on December 01, 2022, 01:30:10 PM

Quote from: ice18 on December 01, 2022, 01:32:13 AM

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. Cheesy

Every thing on cryptocurrency will go down and I see NFT too will go down. I somehow expect that this scenario will happen on all NFT related platforms such as marketplace. NFT is driven by hype and that hype is now surging low, We can't expect that the volume will remain the same as before. This will give opensea a chance to redeem themselves from the past issues they got when everything is expensive gas fees, bridging errors, downtime errors and their own fees.

What comes up must go down and just like the other hypes and trends in the market like those ICO days where lots of money had circulated and been poured in but eventually dies down in volume since
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.

abel1337

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Quote from: Quidat on December 01, 2022, 05:13:27 PM

Quote from: eaLiTy on December 01, 2022, 01:30:10 PM

Quote from: ice18 on December 01, 2022, 01:32:13 AM

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. Cheesy

Every thing on cryptocurrency will go down and I see NFT too will go down. I somehow expect that this scenario will happen on all NFT related platforms such as marketplace. NFT is driven by hype and that hype is now surging low, We can't expect that the volume will remain the same as before. This will give opensea a chance to redeem themselves from the past issues they got when everything is expensive gas fees, bridging errors, downtime errors and their own fees.

Quidat

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Quote from: eaLiTy on December 01, 2022, 01:30:10 PM

Quote from: ice18 on December 01, 2022, 01:32:13 AM

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. Cheesy

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.

Yatsan

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Quote from: eaLiTy on December 01, 2022, 01:30:10 PM

Quote from: ice18 on December 01, 2022, 01:32:13 AM

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.

The market price of NFTs are also volatile because alike with cryptocurrencies, its market price is determine by demand. There are times the market price of an NFT project will rise in an instant upon its release to the market, and also the other way around which is a sudden downfall. Actually, I view NFTs like newly released project token wherein the basis of the demand is the potential of the project in general. Indeed, many people have earned huge amount of money from it and also, many people have lost money through it; part of the process. The plummet in NFT trading is somehow in line with the market behavior in this technology. Many people avoid using their assets to buy NFTs because the market value is low.

eaLiTy

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Quote from: ice18 on December 01, 2022, 01:32:13 AM

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.

ice18

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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,

AmoreJaz

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Quote from: Rengga Jati on November 30, 2022, 06:43:23 PM

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.

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.

Rengga Jati

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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.

zasad@

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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 👇"

samuraijin

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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..

Ansu5801

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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/

zasad@

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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

Widdop37

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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.

zasad@

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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."

TastyChillySauce00

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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.

nimogsm

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Quote from: letyouearn on February 11, 2022, 07:04:13 PM

Recently I read and article where some guys have done an investigation that tells us a funny story of how this market works. They analysed famous NFT owners and their connection with Opensea and it appeared that all of them were beneficiaries of this platform.

For some reason I'm not surprised)And you don't have a link to this news, I would read it with great interest.I have long suspected that large purchases are made by the same people and there is a group of people behind this business.

Al Qiyamah

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Both parties are certainly mutually beneficial because of this NFT hype . Currently Opensea is reaping the benefits of the NFT hype and we don't know how long this will happen because more and more people want to be like Ghazali Everyday, our hope is of course not only to follow the hype but whoever wants to make NFT must be more creative and unique, so that the NFT the ones they sell don't become trash NFT either at Opensea.

asriloni

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No doubt if opensea has become a large companies. Opensea got lots of money from only doing nothing as it was getting lots of revenue from its users and transaction fees. NFT hype has been making opensea to be the biggest NFT market. Remember that the opensea users need to pay the fees for any transaction. The creator may get royalty but I do believe opensea was taking some percents from the transctions that will be going to the company's wallet. I will not feel surprised to see that this company can grow so fast pretty similar like exchange site.

Xinarae*

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Activity: 1414

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NFT enriches hype openness and its users are generally easy to use these platforms other NFT marketplaces and trading solutions have emerged. Many of these competitors acknowledge the flaws of opensea and have quickly gained momentum by introducing cheaper more decentralized and more user friendly ways to buy and sell NFT for collectors. The NFT project one of the first collections to be traded on opensea is trading in the crypto beer market.

rozak

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Quote from: lvsca on February 11, 2022, 07:40:33 PM

Opensea is the icon of the current NFT market, or they say Opensea is the largest NFT market in the world, yes I admit that selling our NFT on Opensea only made Opensea rich and famous, but, as long as it is profitable for us, it doesn't matter. because we are only a small part of the work that hitch a ride on their platform.

because the users are also large and the NFT trading there is crowded, of course, there will be many people who prefer to sell their NFT there.
no problem it will make the platform richer. most importantly our merchandise will always be in demand by buyers.
I think this market is probably waiting for a platform that can make and trade homemade NFTs. there are several projects like that, but not yet crowded and there is no interest in trading there. Opensea is still the busiest for now.

DapanasFruit

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Talking on NFT, one would not fail to see the role of OpenSea in making this market really popular and i am sure that this platform has been doing good since the NFT train started to roll...and so far there is still no end in sight for NFT popularity. Just like Binance as a crypto exchange, we have OpenSea taking the big chunk of the available market and taking the leadership for NFT. I am not a user of OpenSea and maybe I don't have any plan to be in the next few months as I am not into NFT hype but I know success when I see one.

lvsca

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Opensea is the icon of the current NFT market, or they say Opensea is the largest NFT market in the world, yes I admit that selling our NFT on Opensea only made Opensea rich and famous, but, as long as it is profitable for us, it doesn't matter. because we are only a small part of the work that hitch a ride on their platform.

letyouearn

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Activity: 1722

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Recently I read and article where some guys have done an investigation that tells us a funny story of how this market works. They analysed famous NFT owners and their connection with Opensea and it appeared that all of them were beneficiaries of this platform.

indo1

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Activity: 1904

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They are the first NFT exchange, I think it's natural that Opensea will benefit greatly from selling on the opensea platform. To make the Opensea platform as famous as it is today, of course it requires a big effort, and now Opensea has succeeded in becoming the #1 NFT market in the cryptocurrency world. We don't even have any other option to sell NFT apart from Opensea.

Ryu_Ar1

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Quote from: Yogee on February 09, 2022, 06:12:16 PM

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

... 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.

I'm not sure if it was true but I've also seen a post saying someone sold his nipple.

you have to read the whole thing. I've already said regardless of manipulation or whatever it doesn't really matter to Opensea because they are now getting richer with such manipulation.
As for their current NFT, after the Hype from Ghozali, many people are obsessed with turning whatever they have into NFT, even things that are not worth seeing like that already exist.
They've been corrupted by the indeterminate Obsession

Quote from: JeffBrad12 on February 09, 2022, 06:22:44 PM

Yeah but that's only for the owner. The fact that after the hype already gone and the late buyers can't even sell their NFT. they are getting trapped by the hype. You must also need to know that since NFT was not liquid and people who bought will be so difficult to sell.

what I emphasize in this case is not the individuals who profit but indeed the total volume they sell.
Regardless of whether they are trapped in the hype or not, 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.

Ararbermas

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It's like give and take mate, so don't be surprised why opensea is getting rich because at the same time they're spreading opportunity as well to some people who are willing to become part of NFTs investment. And of course when it comes scam projects we need to be aware always especially when it comes crypto because frauds is spreading all over the internet..just always remember to make research to obtain more specific information before buying any NFTs to prevent scam projects.

glendall

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fraud does not only exist in opensea and its NFT but is everywhere,
you should mentally prepare first if you want to play crypto, I think because there will be many surprises from crypto, not just fraud, of course,
fraud can be minimized if we are careful in transactions I think

jrrsparkles

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Its actually getting too bigger and hype of NFT is getting somewhere near to its end so the whales are trying to hype more by those kind of stats and weird recent sales like the first SMS sent was converted into NFT and sold for few millions. But as a user we have to be careful of such traps and better avoid it completely.

eXtremal

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Well of course. Opensea benefited the most from the NFT trend. What I like is that usually transacting with Opensea gets an airdrop from Snapsot with a fairly large reward. The NFT trend is not over now, but Gozali's NFT is starting to lose the trend. What's next?

TravelMug

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Activity: 2632

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Well they are the first and widely use platform for NFT's so they are the prime movers. So obviously being that, they will make a lot of money and also for the people who uses OpenSea as well.

And that is the market that we live in, if you are first in the line and there are no competitions yet, you will definitely get tons of money. Just like what the people in CMC did, sold it to CZ worth millions and they have milk that website for many years as well.

dansus021

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Hahaha that will happen if you made a platfrom and become first off its kind. now there's dozen nft marketplace even pancakeswap has one

nft become more hype since artist using it and become way way more explode when metaverse and play to earn come to play

julerz12

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And it is only getting bigger. The Metaverse is hype is just around the corner and once those two merges (NFT+Metaverse), you will see numbers that are out of this world. But, Opensea isn't the only one getting billions of sales from NFT, their competitors like LooksRare are doing great as well to a point that some even speculate that it might take over Opensea's popularity soon. In terms of features, LooksRare does have more benefits for a user to use than Opensea, the only thing that makes Opensea superior to LooksRare is the overall volume.

takngantuk

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hype is a good thing, but be aware that many NFTs are subpar today. since NFT is popular people seem to forget the essence of art itself. even opensea itself admits that there is a lot of trash on their platform. people upload something worthless, because they think it will sell. if it continues to happen for a long period of time, it is not impossible that the NFT hype will fade.

TelolettOm

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OpenSea and other NFT platforms are now being very popular. We can see many NFT projects are listed on that platform. Let's see how percentage of the income that such platform will earn from every listing and trade of NFT itself. Moreover, everyone can make and list NFT in the platform easily. the mechanism is also little bit easy.
Many popular projects are also coming from OpenSea platform, moreover the hype NFTs.

Opensea is now very popular so that it is normal that they are becoming rich and rich. On the other hands, many people also become rich very much because of listingtheir NFT on the OpenSea. It is good feedback, isn't it?

senyorito123

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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.

It's to hard to determine which of those promising project approach will be the legit one, because as I've observed when it comes to NFT idea hype always comes as many of us thought it would become more in demand for future purpose. Meanwhile, I am thinking a new wave of strategy to study and learn how to make own NFT character in order to deal with much bigger profit. Learning process isn't easy, we need a lot of efforts to do.

JeffBrad12

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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.

Yeah but that's only for the owner. The fact that after the hype already gone and the late buyers can't even sell their NFT. they are getting trapped by the hype. You must also need to know that since NFT was not liquid and people who bought will be so difficult to sell.

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.

Apart from some scams and manipulations in it this is of course a sizeable amount for NFT Sales on the Marketplace.

Source : https://news.bitcoin.com/openseas-all-time-nft-sales-volume-crosses-20-billion/

Opensea was the biggest one. I would not be surprised to see that opensea has the biggest volume since so many NFT with high value gets centralized on it. Just take a look at the daily volume trade for any NFT. it touches more than 10k ethereum which was a lot of money. Opensea is getting a lot from the fees

Yogee

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

... 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.

I'm not sure if it was true but I've also seen a post saying someone sold his nipple.

Quote from: TimeTeller on February 09, 2022, 04:56:36 PM

...
you will see a lot of substandard arts, which should never made it to their list.

I agree that some of the "arts" shouldn't be there and I also find the prices of sold items too high but we do not share the same view as others.

I think one of the reason Opensea became a popular destination of NFTs is the freedom it gives to creators. They will most likely choose other platforms if it becomes too restricted.

TimeTeller

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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.

I just wish they have the feature of blacklisting a user, if he is found to be scamming users on their platform.
Or they have this feedback feature for the creators. If the buyer is satisfied with that particular creator or not.
And share their experience with the creator. They can validate it if the user is indeed a buyer of that creator's item.
Because if you look at OpenSea, you will see a lot of substandard arts, which should never made it to their list.

Johnyz

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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.

Ryu_Ar1

hero member

Activity: 910

Merit: 677

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.

Apart from some scams and manipulations in it this is of course a sizeable amount for NFT Sales on the Marketplace.

Source : https://news.bitcoin.com/openseas-all-time-nft-sales-volume-crosses-20-billion/

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