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How OpenSea Cornered The $17 Billion Market For NFTs


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NFTs have been taking over the art world. And at the center of the $17 billion NFT market is a company called OpenSea.

OpenSea is the Amazon of NFTs, or non-fungible tokens. It’s an online marketplace that allows people to easily create, sell and buy NFTs. It’s one of the largest NFT trading platforms with more than 1.5 million active users, according to Dune Analytics.

This past January was OpenSea’s busiest month yet. It recorded a monthly trading volume of nearly $5 billion, surpassing its previous high in August of 2021.

Alongside that explosive growth, however, the platform also has faced scrutiny for user complaints on the platform related to scams and plagiarism. Crypto-related crime soared nearly 79 percent in 2021 year over year, according to data from Chainalysis.

“We’ve been looking at market manipulation, wash trading and plagiarism and then your run-of-the-mill phishing scam, which is also something that has been coming into the NFT space,” Kim Grauer, director of research at Chainalysis, told CNBC. “So, we do see that kind of connection with scamming in the overall market activity.”


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In an email to CNBC, an OpenSea spokesperson said: “We prioritize the trust and safety of all people on OpenSea, and are working hard to make sure that creators, buyers, and sellers alike feel supported by our policies, tools, and service.”

Competition in the NFT space has also been heating up as regulators pay more attention to the crypto industry. So what’s next for the world’s largest NFT marketplace? Watch the video above to learn more about the rise of OpenSea and what it could mean for the growing NFT industry.

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How OpenSea Cornered The $17 Billion Market For NFTs

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32 Comments

  1. Is individual digital identity worth investment and cultivation? Will consumes adapt to the trends in next 5 to 10 years?

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  6. What is MurAll?

    MurAll is a collaborative canvas allowing artists worldwide to paint onto an ever evolving piece of art. This is a first of its kind project made possible by the use of blockchain technology.

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  8. I watched a show 'The Lost Leonardo'. It is a show about a Leonardo da Vinci that some art historians think is painted by a student. The program showed how the art market is a scam. The painting that some art experts said was a fake and worth nothing is millions of times more professional in it's rendering than the jpgs in the NFT crypto market.

  9. Best channel on the web. This guy is amazing! Love the content, attitude, and wardrobe. Excellent content and not complicated for a novice like me 😀😀👍👍 i'll take any investing advice or Ideas or mentorship recommendations

  10. Opensea is a scam. The nfts are not even on the blockchain. The nfts on chain only points to the website url, and if that url goes down, your nft is gone.

  11. World War III Has Begun; How It Unfolds Depends on Us

    We think of the Russia-Ukraine war as a local conflict, but it is much more than that; it is a global war on multiple fronts. The war is not only a military conflict; it is also an economic war of attrition. With skyrocketing gas prices and shortage of staples, people all over the world are feeling the consequences of the war.

    This war is transforming the entire modus operandi of humanity. Since the dawn of time, we have been accustomed to living by the motto, “survival of the fittest.” By and large, the rule was that the strong determined the rules, and the rules were often abusive toward the weak. Now, it seems like a new mindset has set in: Wanting something and being strong enough to take it does not mean that the world will accept it.

    The war, therefore, is being fought on the inside no less, and perhaps more than on the outside. Our very makeup is changing from abusive to cooperative, from narcissistic to altruistic.

    It hurts, and it will not happen without a struggle, but it is irreversible. This is the path of our evolution toward the purpose of our creation—to encompass within us all of creation. To do that, we must come to care for it, just as a mother encompasses her child through her maternal love.

    The struggle to transition from our current uncaring and mean approach to all creations but ourselves, into wise and compassionate beings is called “the war of Gog and Magog” or Armageddon.

    Since the war is about our inner makeup, we can fight it within us. If we object to struggling with ourselves over who will rule—the ego or love—the physical reality will force us to choose love nonetheless. However, it will do so by hurting us in a very physical way.

    The war in Eastern Europe is nothing compared to what we might have to endure if we resist the process. The horrific descriptions of our sages and prophets hint at it, and we would not want to live through it.

    Alternatively, we can fight this war within us without firing a single bullet. The choice is in our hands. All we need is to continue in the same direction that nature is already leading us: toward connection. If we make an effort to care for one another, even though initially we don’t, then we are moving in the right direction. If we try to resolve conflicts not with guns or even legal battles, but by strengthening the care and friendship between us, then we are saving lives and sparing torments from countless people.

    In conclusion, let us try to rise above the hatred and see the human on the other side, who suffers too. Let us think that this war was given to us so we would think about each other more than we have so far. After all, were it not for this war, we would not notice one another. Now that it is here, we are no longer indifferent. Although our feelings our currently negative, now that we are aware of them, we can work on them together and turn them around. These are the wars of the Messiah who moshech [Hebrew: pulls] us out of the ego, and into mutual love.

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  14. Art and NFTs are just places where wealthy people park their money. To the cast majority of people they're meaningless. Honestly we should just confiscate their assets and redistribute to everyone else or offset tax burdens.

  15. Hello ,I'm a newbie in crypto,, what's the best way to get started with trade cos I've been making my personal research for a while now

  16. Just because a stock is going up doesn’t mean it’s a good investment. just because a stock is going down doesn’t mean it’s a bad investment. there's more to a stock

    than just it's stock price. An entire company more. focus on the company, not just the stock price…….

  17. NFT'S are like stuffed animals you win at the amusement park. Sure those who manufacture them probably make good money but they are worthless once they are sold. Buying an NFT thinking your doing yourself a favor is a fools errand.

  18. Guys please. Lower the music, it is really not accessibility friendly and not at all required for the content.

  19. People trade for something that exists digitally…. things that can be mass produced…. stolen, etc.

    Over actual limited products and currency. 😅

  20. Hello, I'm new in crypto trade and I have been making huge losses on my own but I recently see a lot of people earning from it. can someone please tell me what I'm doing wrong

  21. with this market everything is possible so you Might consider this :
    NFT marketplace coming soon
    Staking and launchpad already live
    NFA , DYOR
    It's " GreenChart ".

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