The NFT hype makes Opensea rich

[savetheFORUM]

It makes sense. We can see how many users have used the Opensea platform so far. And we also know how much they make. However, isn't this reasonable and appropriate? They created a platform that is trusted and reputable, and this is not easy. there are lots of rivals in the world of NFT platforms.

We can find a lot of platforms Opensea being one of the most famous and widely used. It's not easy to reach this stage either. many processes have been passed with full of struggles, obstacles, difficulties, and various problems that have been passed.

During this time, through this platform too, many people have made money and become rich. This is also appropriate reciprocity. but if we calculate the nominal, indeed they can get very much. But, as long as what they provide is appropriate, I think it doesn't matter, just like crypto exchanges and wallets. However, if something is not suitable or costs are increasing with the same facility, this must be questioned.

Every platform starts small but I think the main reason on why opensea became successful is because they are the first to open up a platform like this when nft's begun. Those who deal with nft's have no choice but to use them but I salute this platform because they didn't became greedy and attracted on the money that they see. they continue to choose their reputation and they became even stronger because of this.

Many people have became rich using this platform and these people must be thankful for opensea and nft's but we shouldn't also disregard the losers but that should have taught them a good lesson. I hope those people can still recover and became successful at the end.

[sajeeb21]

publicity is something to be thankful for, yet know that numerous NFTs are inferior today. since NFT is well known individuals appear to fail to remember the pith of workmanship itself. indeed, even opensea itself concedes that there is a ton of garbage on their foundation. individuals transfer something useless, on the grounds that they figure it will sell. on the off chance that it keeps on occurring for an extensive stretch of time, it isn't unthinkable that the NFT publicity will blur.

[Xal0lex]

Every platform starts small but I think the main reason on why opensea became successful is because they are the first to open up a platform like this when nft's begun. Those who deal with nft's have no choice but to use them but I salute this platform because they didn't became greedy and attracted on the money that they see. they continue to choose their reputation and they became even stronger because of this.

Many people have became rich using this platform and these people must be thankful for opensea and nft's but we shouldn't also disregard the losers but that should have taught them a good lesson. I hope those people can still recover and became successful at the end.

I cannot agree with your statement about there being no choice but OpenSea. There is if we are talking about other blockchains. For example, Magic Eden, which is the largest marketplace for Solana and this marketplace is the second largest, after OpenSea, in terms of trading volume. If we're talking about NFT in other blockchains, there's always a choice. OpenSea is mostly focused on NFTs deployed on the ETH blockchain.

[nurilham]

.Those who deal with nft's have no choice but to use them but I salute this platform because they didn't became greedy and attracted on the money that they see. they continue to choose their reputation and they became even stronger because of this.

I don't think it's because they have no choice than using it because there are actually many other NFT platforms. however, OpenSea is indeed one of the most popular, has features and an easy interface and regulations that are not too difficult. moreover, if it is related to popularity, then people will also join in using the platform at first. like other market platforms, when many use a platform, people will also come to it. But here, of course, OpenSea is also able to prove that they also provide benefits for NFT activists. Even though they actually make a lot of money. But now, it seems that NFT is not hyped anymore and many people are starting to leave it. Either it will last forever or only during this bearish period. What is certain is that interaction in OpenSea is decreasing and many people have not yet benefited from the sale or investment of their NFT. Maybe some of them met the same fate as the holders of shit coins?

[royalfestus]

The volume of NFT trading through OpenSea was more than 90% in January, 2022. Its dominance has shrunk significantly in ten months, with several serious competitors emerging within a year including: LooksRare, x2y2, MagicEden, blur_io. It could indicate the increase in market sizes that will cut across different blockchains

image Source; Dune analytics

[sajeeb21]

it is a risk that they feel because I am sure they already know that things like this hype that are happening are of course on average manipulation and indeed only for profit (just like the meme coin that applies Pump and Dump) and when they get stuck it's their risk of getting into the hype.

[Desmong]

Opensea is one of the largest NFT platform where we can buy different NFT projects and they are making there money in huge profits. We also have Binance which that has an NFT platforms where we can buy NFT projects. There are people that has so many holdings in NFT projects so we need to be prepared and ready for them.

[My ThuiHa]

It can only be said that NFT is catching the trend of the era of cryptocurrency. “Trading is done on unregulated platforms like OpenSea and Nifty Gateway, which are not licensed by any government agency.” Any influencer publicity can lead to price increases. Everyone knows about risks, but not everyone can avoid them.

[avikz]

It can only be said that NFT is catching the trend of the era of cryptocurrency. “Trading is done on unregulated platforms like OpenSea and Nifty Gateway, which are not licensed by any government agency.” Any influencer publicity can lead to price increases. Everyone knows about risks, but not everyone can avoid them.

NFT is a bluff! A complete scam and indeed a marketing buzzword. Those who have invested during early stage, made millions just like the ICO boom. But right now, it's completely useless! Opensea just enjoyed the perks of being a pioneer in this field and made millions of dollars out of pure crap.

Also as rightly mentioned, NFT is heavily prone to market manipulation. Influencers and celebrities are milking the commoners by influence while actual pieces of work are getting ignored.

[JunkieMiner]

Surely opensea is the best marketplace I have seen fir buying and selling NFTs, where some projects at the hype gain a lot of potential. I have seen most of the projects on Nfts types that they were not at that hype at the start but then they start growing after some time at the opensea marketplace which is a good step.

[Dave1]

It can only be said that NFT is catching the trend of the era of cryptocurrency. “Trading is done on unregulated platforms like OpenSea and Nifty Gateway, which are not licensed by any government agency.” Any influencer publicity can lead to price increases. Everyone knows about risks, but not everyone can avoid them.

NFT is a bluff! A complete scam and indeed a marketing buzzword. Those who have invested during early stage, made millions just like the ICO boom. But right now, it's completely useless! Opensea just enjoyed the perks of being a pioneer in this field and made millions of dollars out of pure crap.

Also as rightly mentioned, NFT is heavily prone to market manipulation. Influencers and celebrities are milking the commoners by influence while actual pieces of work are getting ignored.

I guess that's the lesson here in crypto market, hype the buzzword, it will just make more money to every entity behind, like in this case, the Opensea market who suddenly become a billion dollar company because of NFT.

So for sure the market hasn't learn it's lesson yet from the hype and it's going to be cyclical because in the future, we might hear another crypto buzz word and everyone will be running and will FOMO.

[dunfida]

It can only be said that NFT is catching the trend of the era of cryptocurrency. “Trading is done on unregulated platforms like OpenSea and Nifty Gateway, which are not licensed by any government agency.” Any influencer publicity can lead to price increases. Everyone knows about risks, but not everyone can avoid them.

NFT is a bluff! A complete scam and indeed a marketing buzzword. Those who have invested during early stage, made millions just like the ICO boom. But right now, it's completely useless! Opensea just enjoyed the perks of being a pioneer in this field and made millions of dollars out of pure crap.

Also as rightly mentioned, NFT is heavily prone to market manipulation. Influencers and celebrities are milking the commoners by influence while actual pieces of work are getting ignored.

I guess that's the lesson here in crypto market, hype the buzzword, it will just make more money to every entity behind, like in this case, the Opensea market who suddenly become a billion dollar company because of NFT.

So for sure the market hasn't learn it's lesson yet from the hype and it's going to be cyclical because in the future, we might hear another crypto buzz word and everyone will be running and will FOMO.

And the cycle would continue and expect that if someone dies and wither away when it comes to its hype and interest then there's always something that would be replacing which people never ever learn and there are

investors who do fully put up all of their funds and investments when they get fomoed which is something that you shouldnt really make yourself do such stuff because if we do look
on what happened on that NFT hype then it is really just a total disaster into those people who had bought ridiculously amount of those JPEG pictures. LOL!

[justdimin]

Of course, with this NFT Hype, several NFT marketplaces have started to soar and one of them is Opensea.
Openseea became very busy with the NFT Hype even Opensea's All-Time NFT Sales Volume Passed $20 Billion since they were created in 2017.
Of course, this is an extraordinary record for them because they are now one of the leading markets now and outperform its current competitor, NFT Looksrare.

Opensea deserves every single dime they have because during the NFT period they became so big that everyone else wanted to copy them and be big but nobody passed them. There were some competitions like rarible and all and they were big too, not like they were small but they didn't catch up with Opensea.

This is a success story and if they are good enough to be the biggest during a period like this then there is nothing else we should be worried about. They deserved their time at the top, but now NFT is not that big and I am sure they are still making more money even on their worst days than I would make in a year but they are not making the peak neither anymore.

[glendall]

The volume of NFT trading through OpenSea was more than 90% in January, 2022. Its dominance has shrunk significantly in ten months, with several serious competitors emerging within a year including: LooksRare, x2y2, MagicEden, blur_io. It could indicate the increase in market sizes that will cut across different blockchains

image Source; Dune analytics

I think that opensea's market dominance can no longer be maintained because there will be many platforms that offer convenience, maybe even simpler, and more economical,
as we know the hype for NFT is also not like the beginning of the year and this doesn't only happen to NFTs I think altcoins are like that too
Let's see what the trend for 2023 will be

[d3nz]

The volume of NFT trading through OpenSea was more than 90% in January, 2022. Its dominance has shrunk significantly in ten months, with several serious competitors emerging within a year including: LooksRare, x2y2, MagicEden, blur_io. It could indicate the increase in market sizes that will cut across different blockchains

image Source; Dune analytics

I think that opensea's market dominance can no longer be maintained because there will be many platforms that offer convenience, maybe even simpler, and more economical,
as we know the hype for NFT is also not like the beginning of the year and this doesn't only happen to NFTs I think altcoins are like that too
Let's see what the trend for 2023 will be

A lot of NFT pop-ups on the market really take down all of their value and it's a huge loss if you bought $10,000 NFT before which might be $1 today. We'll see what's gonna trend for this year and hope that there will be no more P2E since it will just create hype again and more investors will take a loss for sure.

[Doan Ha]

Opensea also makes a lot of people rich and this has been a great platform to sell your NFTs because there are many users who are willing to buy some NFTs. This is their Business, they did a great job and now they are enjoying the fruit of their work.

Scams, fake projects are already part of this market, if you are afraid to fall for that better to study first before investing or buying any NFTs, don’t just follow the hype lear from it.

OPENSEA is indeed very friendly to users, the information of NFT is relatively timely, and it supports a variety of payment methods. What attracts me the most is that many NFT works of ordinary users suddenly become very popular without knowing why, and they have great benefits. This place is full of magic.

[oaz7t]

Every time man! Whenever I think this is going to be failure they will come up with new billionaires and millionaires along the way. Same was with the NFT's actually. But I have feeling that this has one major set back behind the idea. For example, whenever something new comes that this has one major set back behind the idea. For example, whenever something new comes up in the crypto space then it is hyped in the initial adoption phase or let's say 3-4 years and then the spark goes off. Now, whoever is early adopter of the bitcoin is todays billionaires in similar ways whoever invested in NFT's at very initial stages is now becoming billionaires or at least millionaires. However, this is all about who got on train at the first. Later, when we try we are just feeding the wallets of those early adopters. This is a game actually, the first one always wins the race here

[beerlover]

In the last few months NFT has become one of the hype that cannot be underestimated. Their hype is too big and not even a few people can become billionaires from this NFT and now perhaps the most popular example is NFT Magic Ghazali Everyday who does sell photos of himself and Benjamin Ahmed with his Weird Whales work.

Of course, with this NFT Hype, several NFT marketplaces have started to soar and one of them is Opensea.
Openseea became very busy with the NFT Hype even Opensea's All-Time NFT Sales Volume Passed $20 Billion since they were created in 2017.
Of course, this is an extraordinary record for them because they are now one of the leading markets now and outperform its current competitor, NFT Looksrare.

As always stated before, during the California gold rush, the people who made the most money were the shovel makers. You are not going to make as much money as you can from being involved with NFT investment, you will make a lot more if you could provide a platform for NFT investors though.

I once did something similar with a few friends back in the day, it was for ICO period during 2016-2018 era and we had people list their ICO on our website, and it was a simple advertisement website, so we didn't make too much but we got a whole lot of clicks, more than we ever assumed we could. So all in all, its better to be opensea than to be owner of any nft collection.

[lalabotax]

I guess that's the lesson here in crypto market, hype the buzzword, it will just make more money to every entity behind, like in this case, the Opensea market who suddenly become a billion dollar company because of NFT.

The hype of NFT at that time was really very high and even more people and companies were interested in creating and developing NFTs. We can see how more and more people are getting rich because of NFTs. And they usually use the OpenSea platform as one of them. However, due to the large number of users, OpenSea gains a lot. However, this is not an easy thing because OpenSea has also gone through various processes up to that stage

[zasad@]

https://cointelegraph.com/news/opensea-implements-0-fees-to-win-over-nft-userbase-lost-to-blur
OpenSea implements 0% fees to win over NFT user base lost to Blur
"NFT marketplace Blur surpassed OpenSea in daily ETH trading volume as users — anticipating greater returns on their NFT investments — are looking for a trading arena that works in their favor.
Major nonfungible token (NFT) marketplace OpenSea announced a massive structuring around lower platform fees and greater creator earnings as competing marketplaces continue to drain away its once dominant user base."