OpenSea
19 hours agoOpenSea is the first and largest decentralized peer-to-peer (P2P) marketplace globally for the buying and selling of Non-Fungible Tokens (NFTs).
Non-Fungible Tokens (NFTs) are distinct digital items and collectibles, such as artwork, trading cards, social media avatars, in-game assets from video games, and digital images of cats.
Because NFTs cannot be substituted with another item, they are considered rare. There will always be just one, similar to a unique Babe Ruth baseball trading card.
You could exchange the Babe Ruth card for a different card, but it would be entirely unlike the original.
Founded in 2017, OpenSea currently hosts over 2 million NFT collections, comprising more than 80 million individual NFTs.
While most NFT collections are based on the Ethereum blockchain, other blockchains are beginning to participate in the NFT ecosystem.
OpenSea provides cross-blockchain support for Ethereum, Polygon, Klatyn, and Solana blockchains.
Additionally, OpenSea allows users to create their own NFTs, even if they lack prior experience.
For some, owning digital items, as opposed to a physical artwork to display, can still feel somewhat unsettling.
Nevertheless, the buying and selling of NFTs have already experienced a surge, with OpenSea reporting over $3.5 billion in NFT trading volume in 2021.
NFT collectors have invested millions of dollars in individual NFTs.
Traditional artists are also joining the NFT ecosystem to present digital versions of their existing artwork and new creations in the digital marketplace.
As of August 2022, the average price for purchasing an NFT on OpenSea is $297.19.
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