OpenSea - Page 4
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OpenSea’s Struggles Embolden Rivals with New Ways to Play Booming NFT Market
The insider buying scandal at OpenSea has hit just as a crop of rivals are circling the NFT marketplace leader. On Sept. 15, a startup called NFTX launched what it called “the world’s most liquid decentralized marketplace,” meaning the exchange operates “on chain.” It also permits buyers and sellers to make deals without the need…
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OpenSea Vows to Probe 'Incredibly Disappointing' Insider NFT Buys
OpenSea, the world’s biggest NFT marketplace with $100M in daily volume, just learned a painful lesson — inside information can lead to unscrupulous trading by employees. Devin Finzer, OpenSea’s co-founder and CEO, said in a blog post Wednesday that an employee purchased “items” ahead of their public listing on the auction site’s front page. With…
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48,000% Returns? Popping the Hood on NFT Mania
On-Chain Markets Update by Lucas Outumuro, IntoTheBlock NFT mania continues to grow, with new drops popping up everyday and Ethereum’s gas prices consistently back above triple digits. The recent wave into NFTs was further amplified by Visa’s acquisition of a CryptoPunk and Budweiser’s buy of the beer.eth domain. Prices of notable NFT collections such as…
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Can Anyone Say Exponential? OpenSea Doubles NFT Sales for Second Straight Month
It wasn’t too long ago — two-and-a-half weeks, to be precise — that Nate Chastain urged restraint. The NFT market had yet to reach an inflection point, the head of product at OpenSea told The Defiant’s Camila Russo in her weekly podcast. There was still plenty of room to run. Well, it looks like we’ve…
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Something Fishy is Happening on OpenSea as Bots Upset NFT Auctions
The NFT marketplace OpenSea has been on a tear — at 14.61%, its primary smart contract has consumed more gas than any other on Ethereum in the last 24 hours, according to block explorer Etherscan. But there’s something strange going on in OpenSea’s waters. Ethereum wallets appear to be canceling orders at a surprising rate on…
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Venture Round Led by a16z Makes OpenSea Latest NFT Unicorn
The NFT marketplace OpenSea has reached a $1.5B valuation after a $100M Series B funding round led by a16z. This makes OpenSea the newest NFT-based unicorn, or a privately held startup company valued over $1B. A16z also led OpenSea’s $23M Series A round in March. This year, the venture giant also invested in Dapper Labs,…