OpenSea, one of the most prominent NFT marketplaces, has experienced a significant downturn in its overall business operations due to several factors, including low engagements in the sector. Over the past few months, some top employees have left the company to work elsewhere as the firm’s troubles continued to pile up. With a significant reduction...Read More
The US Securities and Exchange Commission has made it its mission to target various cryptocurrency platforms, albeit with questionable success so far. Next on the list is the NFT platform OpenSea, whose CEO went on to X to express the team’s disappointment in the regulator’s move. Devin Finzer, OpenSea’s chief exec, tweeted that the company...Read More
In a year marked by a massive recovery run in the broader crypto market, the non-fungible tokens (NFTs) sector has displayed a contrasting performance. While industry leaders like OpenSea have historically dominated the NFT space, relatively newer players, such as the Blur NFT marketplace, have emerged as formidable contenders. As of December 3, the Ethereum...Read More
American tech-focused investment manager Coatue Management has reportedly marked down its stake in OpenSea, one of the leading NFT platforms. According to documents reviewed by The Information, Coatue reduced its previously valued $120 million stake in OpenSea to just $13 million during the second quarter of 2023. Coatue Slashes OpenSea Stake by 90% Based on...Read More
Nathaniel Chastain – former head of product at the NFT marketplace OpenSea – will spend three months in jail after being found guilty of insider trading. Prosecutors maintained that he bought numerous non-fungible tokens before they were featured on the platform’s home page and later sold them at much higher prices. Chastain maintained he was...Read More
Blur appears to have lost its title as the world’s most popular NFT marketplace. OpenSea Pro was rebranded and unveiled to court active traders from Blur. The latter was eating away at OpenSea’s market share since its launch last October. The counteroffensive proved somewhat successful as data suggest that the new “polished” NFT aggregator has...Read More
In the wake of fierce competition from rival Blur for the top spot, NFT giant OpenSea announced a new aggregator platform that boasts zero fees for a promotional period, advanced order types, as well as “deepest liquidity, and fastest speeds.” Dubbed “OpenSea Pro,” the marketplace was previously known as Gem, acquired by OpenSea last April....Read More
The NFT sector appears to be clawing back as the sentiment around the broader crypto market recovers. The emergence of new players and changing dynamics have resulted in a rapid evolution of the non-fungible token space. Despite a frantic start, NFTs had a strong Q1 2023. NFT Market Recap: Q1 2023 According to a report...Read More
The emergent NFT marketplace Blur may have raised an open battle against the once-market leader, but the latter appears to be making a comeback, albeit slowly. According to Dune Analytics data compiled by sealaunch.xyz, the percentage of unique users on OpenSea saw an uptick since taking a plunge in mid-February. Simultaneously, it was found that...Read More
Blockchain intelligence platform Glassnode published a report on Wednesday analyzing how Blur – the new hotspot for NFT trading – is slowly reigniting the non-fungible economy on-chain. The firm noted a 94% increase in gas consumption from NFT-related transactions on Ethereum over the past 2 months. The Rise of Blur As the report explained, Ethereum...Read More
Non-fungible token (NFT) marketplace giant OpenSea announced some changes to its fee structure. This comes amid an open challenge by one of its competitors, which suggested that NFT creators boycott OpenSea. In a tweet thread on Friday (Feb. 17, 2023), OpenSea made some structural changes in the wake of stiff competition by rival marketplace Blur....Read More
In compliance with U.S. sanctions law, OpenSea – the world’s largest NFT marketplace – is delisting Cuban artist and collector accounts from its platform. A recent statement from the company confirms previously held suspicions that its platform discriminates against Cuban users. Compliance With Sanctions In an email received by Artnet News, an OpenSea spokesperson clarified...Read More
The non-fungible token (NFT) space may have been spared the brunt of the catastrophic fall of FTX, but the battle for market share continues. Amidst the chaos, Magic Eden – the most popular marketplace for Solana NFTs – announced the launch of a new tool that will enforce royalties on all new collections that opt-in....Read More
The decentralized exchange Uniswap enabled NFT trading on its platform by listing digital collectibles a part of leading marketplaces, such as OpenSea, LooksRare, Sudoswap, and more. The initiative comes a few months after Uniswap acquired the NFT aggregator Genie. The DEX revealed that as of today (November 30), its users could trade a variety of...Read More
OpenSea – the world’s largest NFT marketplace – is bringing NFTs based on BNB Chain to its platform. The network’s collectibles will soon be available for listing and sale on OpenSea’s standard core marketplace. OpenSea Meets BNB Chain Per a press release shared with CryptoPotato, OpenSea’s Seaport protocol will launch BNB Chain starting in Q4...Read More
Last year’s NFT gold rush marked the ascent of OpenSea into a $13 billion company, but its competitors have been increasingly capturing market share. A new report suggests the transition of a previously monopolistic non-fungible token (NFT) market into an oligopoly. OpenSea Faces Stiff Competition According to the latest edition of Binance’s Market Pulse, NFTs had...Read More
Brian Roberts, who joined OpenSea after working at Lyft, Walmart, and Microsoft, said he is leaving the company just ten months after joining it. This is the latest example of cryptocurrency executives stepping down amid the ongoing bear market. OpenSea CFO Joins the Departure List As last year’s bull market was raging on and NFTs...Read More
Controversial crypto entrepreneur Jason Falovitch on Sunday reported that hackers breached his crypto wallet on OpenSea and stole four NFTs and six ETH. The value of the stolen assets is estimated to be in the range of $150,000, media reports said. In a similar incident, earlier this month, famous American actor and comedian Bill Muray became a...Read More
While overall NFT volume has fallen off a cliff since January, Ethereum Name Service (ENS) domain sales have soared over the past week. The collection is now the most highly traded Ethereum-based collection on OpenSea, beating the likes of both CryptoPunks and Bored Ape Yacht Club (BAYC). What’s behind the collection’s sudden climb to the...Read More
The world-leading NFT marketplace OpenSea has publicly declared its support for the Ethereum Merge later this month. As such, it will not support any speculative Ethereum forks that follow its activation – such as a potential ETHPoW fork. The marketplace confirmed its support for the Merge in a tweet on Wednesday. “We are committed to...Read More
NFT marketplace giant OpenSea announced support for the layer-2 blockchain Polygon on its new Web 3 protocol Seaport. The integration comes with an expanded list of features, including the ability for users to use Polygon’s MATIC as a payment option. In a blog post on Tuesday (August 30, 2022), OpenSea said that the migration of...Read More
Think the cryptocurrency market has it rough? Take a look at what happened to non-fungible tokens – aka NFTs. Data from DappRadar shows that trading volume at OpenSea – the world’s largest NFT marketplace – has fallen by 99% in less than four months. While the company contested the figure to some degree, it admitted...Read More
Former OpenSea employee Nate Chastain has filed a motion to dismiss the indictment against him regarding an alleged insider trading scheme, stating that the charges by the United States government were erroneous. Meanwhile, there has been a growing case of executives of various crypto-based companies being accused of insider trading. Chastain’s Lawyers Challenge Insider Trading...Read More
An OpenSea user has placed a bid for 1,000,000 USDC on the ENS name of ‘amazon.eth’. The offer is set to expire on Tuesday at 15:00 EST. According to the listing page, previous offers to purchase the name were for only a few thousand dollars each. For example, the two next most recent offers were...Read More
OpenSea announced kicking off the Solana launchpad to allow creators to host a new mint from beginning to end on the NFT marketplace. According to the official blog post, OpenSea will guide creators to navigate all pre-mint activities, and allowlist minting for their community and supporters, in addition to all post-mint and secondary sales. The...Read More
Devin Finzer – CEO of OpenSea – announced on Thursday that roughly 20% of employees have been let go by the NFT marketplace. The move is intended to better prepare the company for up to five years of a potentially “prolonged” crypto winter. Despite having faced the bear market before, Finzer said that the current...Read More
Leading non-fungible token (NFT) marketplace OpenSea reportedly blacklisted some major NFT collections valued at over $27 million. However, many users have criticized the platform for not carrying out due diligence when marking an item as stolen. The Cost of OpenSea’s NFT Blacklisting According to this Dune Analytics dashboard created by on-chain sleuth beetle, several token...Read More
OpenSea – one of the most popular NFT-centric platforms – has reported a data breach affecting the personally-identifying information (PII) of customers subscribed to the company’s mailing list. Lax External Security at Fault The breach was not caused by OpenSea itself, the firm explained. Rather, it was due to an employee of Customer.io, a third-party...Read More
The US Justice Department charged a former product manager at OpenSea with wire fraud and money laundering. He had allegedly used confidential business information of what NFT projects would be featured on the platform to make a considerable profit. The official release stated this case was the first-ever digital asset insider trading scheme. Accused of...Read More
On May 20, OpenSea unveiled Seaport, a brand new Web3 NFT marketplace for trading popular token collections. The new decentralized protocol is not just for OpenSea, but all developers, content creators, and collectors can build on it. Seaport is taking a different approach to the standard model of NFT trading, which involves a platform facilitating...Read More
