An artist can experiment with their work and see if it has value on the market. NFT marketplaces provide a very immediate way to have a relationship between the buyer and the seller. Not only can people buy and sell art, but they can also see how their personal creations fare on the open market. This has proved to be an attraction to the platform and has been a key driver of user adoption. The average user can easily create NFTs to sell.
What separates OpenSea from its main rivals – NiftyGateway and Superrare – is its simplicity. Think eBay for digital art and collectibles.
On OpenSea, every type of NFT can be bought and sold. Their digital ownership properties are suitable for the creation and sale of digital artwork, collectibles, game items, and event tickets, with ever more sophisticated applications still to come. The NFT landscape has evolved rapidly since 2017, and now NFTs are most commonly used to represent audio, video, and images. OpenSea is a marketplace for buyers and sellers of non-fungible tokens (NFTs).
After a $100 million funding round in July, OpenSea now joins NBA Topshot as one of the NFT ecosystem’s billion-dollar unicorns. Record revenues in June were remarkable, especially considering the market downturn for the last two months. This peer-to-peer marketplace is one of the most widely used globally and has seen a dramatic rise in 2021. OpenSea is a rare unicorn in the NFT ecosystem that is valued at $1.5 billion.
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