#860 new

What Is the Operation of an NFT Marketplace Like OpenSea?

Reported by rachelgrace | October 5th, 2022 @ 02:08 AM

The popularity of NFT marketplace developments like OpenSea is growing as a result of the benefits they provide over traditional marketplaces. NFTs, for example, cannot be copied, hence they are more rare than traditional assets. They're much more easily divisible, allowing you to sell fractional ownership of an NFT. Additionally, NFTs are more safe and transparent than traditional assets because they are held on the blockchain. One of the biggest NFT markets in the world, OpenSea has over 3 million users and $200 million in annual transaction volume. The Ethereum blockchain served as the foundation for this NFT market, making it simple to interface with other Ethereum-based technology. OpenSea is a fantastic choice to take into consideration if you're looking to establish an NFT marketplace.

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