How one company took over the NFT trade

  • 📰 verge
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 67%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

OpenSea touches every aspect of the NFT trade, but there’s more to the company than meets the eye.

It was an awkward moment but a revealing one. A year into the NFT boom, it’s hard to mint a collection or list a token for sale without somehow interacting with OpenSea. The company has become the central broker and the de facto enforcer of community rules. When an ape gets stolen, the rightful owner— and the platform has become the single most important chokepoint for blocking a sale. It’s also the largest single market any time a token is listed.

“I think the question is, is OpenSea like an AOL or a Netscape, or are they going to be able to maintain their hold on the market,” said Brian Krogsgard, who hosts the Ledger Status podcast. “And I think that’s a very open question.” with an eye towards capturing that potential. CryptoKitties charged a 3.5 percent commission on all sales, so OpenSea lowered the number to 2.5 percent and set to work building a broader platform. The two co-founders were young but already well-seasoned: CTO Alex Atallah was working for a millennial-focused polling firm, while CEO Devin Finzer had already founded a claim-searching company acquired by Credit Karma.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Will Ecomi’s Licensed NFTs VeVe App, Flip OpenSea?

The best and safest way to take over NFT is to join the IDO at JPEGvaultDAO 🚀

Good

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 94. in CA

Canada Canada Latest News, Canada Canada Headlines