OpenSea Continues To Innovate It's Product

OpenSea saw huge success in the last crypto bull market and most likely would see the same thing again during the next as NFTs are still hot items. In fact it's just not all flash and flare anymore. Many of the NFTs now being sold on Openseas have use cases primarily in games and new companies building these games. It's the proof of ownership that's starting to really take hold in the NFT and gaming space.

While still worlds away from were it should be it's moving and moving in the right directions I believe.

Much of the moves from Openseas last year was to decentralize the platform more and introduce other blockchains like Solana. Now we are starting to see the hype fade and the real power of NFTs and the blockchain come to life and that's a direction I can get behind.

New Features

Multistage minting phases - minting phases has become a big one over the last year. Before it was just get a whitelist label, wait and then open up your card and see what you got. It was ok but really lacked a lot of depth. With games such as Splinterlands and the release of Runi it was much the same. However with this new multistage minting it would allow for a richer and deeper story to take place around the NFTs. This is perfect for games and I could see Splinterlands jump in on this and releasing something amazing for its players.

The other big feature is simply just improving the overall user experience in particular those creating NFTs by giving them new tools and resources to further improve the push of their products. One of which is personal landing pages such as Cloudmachine Opensea

One of the biggest is the enforcement of royalties. This is because other side projects have been launched to swap NFTs from opensea which allow for buying and selling of the NFT assets but no royalty is given to the creator. Royalties in a lot of ways are a way to continue to fuel the project. For instance if you created a NFT game and make 10 ETH in transactions a day with a 10% royalty fee you'd be making 1 ETH a day or roughly $1,600 to continue to grow your project, pay developers, operating costs etc.

Overall I see NFTs and more marketplaces going to be a hot topic for the next bull run. My hopes are Hive can also capitalize on this a bit and offer more and better tools to developers to create marketplaces for the NFT assets.

Posted Using LeoFinance ^Beta