Opensea, once a leader in the NFT market, takes daring measures to recover from a massive drop of 98% of the volume of trade.
The platform is expansion For several block channels, launch an ICO style card and reorganize its website. It will also introduce NFT purchases into cross blocks and market costs less than 0.5%, with eliminated exchange costs during its OS2 Open Beta version.
After having cried at $ 476 million in daily negotiation volume in May 2022, OPENSEA figures decreased, with monthly NFT sales by 80% compared to January 2022.
Despite the decline, Opensea hopes that its new features, including the SEA token, refer things, although society has faced challenges such as dry exam and competition from platforms like Blur and Magic Eden. The question of whether these efforts can rekindle interest in NFT remains uncertain because many traders move to fungible tokens.
The company’s struggle is also aggravated by changing market trends, the discoloration of NFT boom and the same gaining ground among the merchants. Opensea’s attempt to find its position is to adapt to the evolution market, incorporate more blockchains to attract a wider user base and offer more versatile payment options. However, even with these strategic changes, Opensea is faced with a rapidly evolving landscape in the space of digital assets.
