OpenSea Pro: Here's What You Need To Know About The Newly Launched NFT Market!

OpenSea launched a new trading service, OpenSea Pro. (Photo; Doc. OpenSea)

JAKARTA - Non-fungible tokens or tokens are unique and non-exchangeable digital assets. NFT can be in the form of digital arts, music, videos, games, or anything digitally representable. NFT has a certificate of authenticity stored on blockchain, a decentralized ledger that cannot be changed.

One way to buy and sell NFT is through an online market called the NFT market. The NFT market is a platform that allows users to explore, bid and trade NFTs from various collections and creators. The NFT market also provides information about the history of transactions, market prices, and the popularity of certain NFTs.

OpenSea is one of the largest and first generation NFT markets. Founded in 2017, OpenSea offered more than 40 million NFTs from more than 4 million collections. OpenSea supports different types of NFT, including ERC-721, ERC-1155, and Flow.

However, OpenSea is not alone in the fast-growing NFT industry. Several new competitors have emerged in recent months, offering different features and incentives to attract users. One of OpenSea's biggest competitors is Blur, an NFT marketplace launched in January 2023 by the team behind the Blur social media app.

Blur claims to be the first fully decentralized and free-cost NFT marketplace. Blur uses the Blur Network protocol, a layer of 2 scalability solutions above Ethereum that allow fast and inexpensive transactions without compromising security. Blur also has unique features such as Blur Stories, Blur Drops, and Blur DAO.

Blur Stories is a social media feature that allows users to create and view short stories about their NFTs. Blur Drops is an exclusive NFT collection launch feature created by well-known creators. Blur DAO is a decentralized autonomous organization that regulates the development and governance of the Blur market.

Blur has attracted a lot of attention and volume of trade since its launch. In February 2023, Blur surpassed OpenSea in terms of the daily trading volume of NFT by reaching more than 200 million US dollars (Rp2.9 trillion). Blur also has more than 1 million monthly active users and more than 300 thousand NFT collections.

In an effort to maintain its dominant position in the NFT market, OpenSea has taken several strategic steps. One of them is by launching OpenSea Pro, a premium version of its standard market aimed at professional traders.

OpenSea Pro is the result of OpenSea's acquisition of Gem V2 in April 2022. Gem V2 is an NFT market aggregator that allows users to search and compare offers from various platforms. By integrating Gem V2 into OpenSea brands, the company hopes to provide a better and more competitive NFT trading experience.