LooksRare was introduced as a community-centric NFT marketplace, offering various rewards and lower fees to challenge established players such as OpenSea. LooksRare, a new operator in the non-fungible token (NFT) marketplace, launched with a mission to revolutionize how NFT collections on the Ethereum blockchain get indexed and traded successfully. Co-founded by anonymous figures Guts and… Continue reading LooksRare Impacts NFT Market With User Rewards, Destabilizes OpenSea Fees
Tag: OpenSea
OpenSea 2.0: Market Revival And Focus On NFT Utility
Amid the downturn in the NFT market, with global sales dropping to $8.7 billion in 2023, OpenSea, a major player in NFT transactions, is working on OpenSea 2.0. The development coincides with changes in the industry, including the surge of blockchains like Solana and the introduction of new assets like Ordinals on the Bitcoin blockchain.… Continue reading OpenSea 2.0: Market Revival And Focus On NFT Utility
Ethereum NFT Creators Race to Safeguard Projects Amid Thirdweb Threat
Major Ethereum NFT marketplaces and project developers are now implementing various measures to help resolve a serious smart contract issue. Some developers of Ethereum NFT projects are now rushing to secure their collections after Thirdweb, a prominent crypto development platform, announced that it has had issues with its smart contracts since December 4. Thirdweb wrote… Continue reading Ethereum NFT Creators Race to Safeguard Projects Amid Thirdweb Threat
OpenSea Offloads 50% of Workforce In A Massive Restructuring Initiative
Top non-fungible token (NFT) marketplace OpenSea confirmed it will lay off 50% of its workforce in a huge restructuring move. CEO Devin Finzer highlighted in an X thread that the restructuring is meant to focus on “the next version” of their product. Early Reception And Achievements Launched in 2017, OpenSea appeared in the market when… Continue reading OpenSea Offloads 50% of Workforce In A Massive Restructuring Initiative
OpenSea Marketplace Hit By Third-Party API Breach
OpenSea is currently under scrutiny after reports came up of a major compromise in its API. On September 23, 2023, many users came forward with different messages they allege to have received from OpenSea, alerting them to a security breach. The messages pointed to an intrusion by one of OpenSea’s third-party partners, which might have… Continue reading OpenSea Marketplace Hit By Third-Party API Breach
Major Marketplaces Enforce Trading Limits on Stoner Cats NFTs
The Stoner Cats NFT initiative, co-founded by the esteemed actress Mila Kunis, has faced trading restrictions on several major NFT platforms such as OpenSea, Blur, and Rarible. This development comes in the wake of legal action by the United States Securities and Exchange Commission (SEC), which has levied charges against the project’s creators, alleging the… Continue reading Major Marketplaces Enforce Trading Limits on Stoner Cats NFTs
OpenSea Drops Royalty Fees As Yuga Labs Responds By Blocking Trades
In a recent move that has sent huge shockwaves in the entire NFT community, OpenSea confirmed its decision to stop collecting royalty fees on behalf of NFT creators. This decision made Yuga Labs, the creator of CryptoPunks and Bored Ape Yacht Club NFT collections block the ability to trade in newer NFTs on OpenSea by… Continue reading OpenSea Drops Royalty Fees As Yuga Labs Responds By Blocking Trades
Whale Executes Largest NFT Dump Ever
A renowned whale named Machi Big Brother dumped up to 1,060 nonfungible tokens (NFTs) over a 48-hour selling spree. In general, the latest dump amounted to around $18.6 million, in what is known as the largest dump in NFT history. The dumping of 1,010 NFTs by the prominent whale might be a sign of the… Continue reading Whale Executes Largest NFT Dump Ever
Blur Surpasses OpenSea And Gas Fees Surge
Blur has been growing by leaps and bounds. In a major milestone for the platform, this new NFT marketplace has overtaken OpenSea in daily NFT trading volume. Blur’s daily trade volume reached 6,602 ETH on February 15, surpassing OpenSea’s 5,649 ETH for the first time. Furthermore, Ethereum gas fees are also exploding because of growing… Continue reading Blur Surpasses OpenSea And Gas Fees Surge
How Rejell Is Supporting Climate Action With Its First NFT Drop
The issue of nonfungible tokens driving change seems to put the spotlight on the film production firm, Rejell, and its NFT collections that it uses to support various causes. Weekends are all about relaxing. But when it is sunny, you can go outdoors to enjoy nature and everything it has on offer. Nature always provides… Continue reading How Rejell Is Supporting Climate Action With Its First NFT Drop