HOW OPEN SEA IS CREATING AN NFT GAME CHANGER!!
Open sea has 1.7M active users with $30B+ in total volume transacted!
But its only limited to a buying & selling platform!
So what's the good news?
SEAPORT PROTOCOL
Opensea decided to build seaport protocol will open up @opensea to a whole new world which will include an opensource code that will allow individuals to create and build their own NFT marketplaces
Some pros include:-
1. OPEN SOURCE CODE
With Seaport, anyone can build an NFT marketplace using the protocol because it's decentralized and Open source
In the coming years, we should expect to see way more marketplaces being built
More competition = better + faster innovation
2. TRADING NFTS WITH OTHERS
Right now, you can only buy or sell NFTs for ETH or acceptable tokens (APE, USDC, DAI).
On the Seaport protocol, you’ll also be able to trade NFTs.. Example:-
You have 1 Bored ape worth 225 eth
I offer to trade: 2x mutant apes worth 20eth each 60 eth
3. DUTCH AUCTIONS
If your not sure what the market values your NFT at?
You can create a Dutch auction
With seaport, you can set a start and end price and set how long you want the auction to run.
The listing will decrease (or increase) the price until a buyer is found
4. INNOVATION
Innovation breeds better products giving consumers option
Who will create the best marketplace?
Who will create the revolutionary feature?
How fast will innovation happen?