OpenSea to adapt Solana - Success of OpenSea and NFT by@lucasandrew

OpenSea to adapt Solana - Success of OpenSea and NFT

image
Lucas Andrew HackerNoon profile picture

Lucas Andrew

Blockchain Consultant and Technical Writer


NFTs were brought to the world after the launch of the Ethereum blockchain network in 2015. The launch of Ethereum has determined the growth of the blockchain field. People around the world are experiencing the most advanced and futuristic tech because of the first altcoin(Ethereum) launch. The launch of the blockchain network paved the way for the development and launch of OpenSea to global users, where the NFT's knowledge started its growth in all countries. OpenSea launch has brought up and showcased many talents to the world with their works from multiple domains including art, photography, games, and more.

OpenSea

OpenSea, the first NFT marketplace that launched on the Ethereum blockchain network in 2017 and it is now the most traded platform of NFTs and as well as with higher market value than any other NFT marketplace. OpenSea made their work reach all the nooks and corners of the world with their continued work and advanced upgrades in the platform to attract users. After their multiple upgrades and works, OpenSea has crossed a billion market value in the year 2021 and is marching forward to create history in the crypto sphere. The success of OpenSea is because of its ultimate platform features, continuous updation with the trending ecosystem, and easy access for the users.

OpenSea’s Travel on Web

OpenSea makes its own way into the crypto sphere in 2017 where most of the marketplace followed up in its path. One of the reasons for its successful travel till now is accepting new trends into the platform and introducing new features to the NFT market. Proceeding its further moves in the marketplace takes its place to a higher standard. OpenSea growth has gone through the peak phase from the start of the year 2020 where it attracted many creators to the platform. Creators started listing their own arts, images, videos, collections, and more on the OpenSea platform and NFT collectors brought their favorites where it went crazy on the internet in 2021.

With many non-fungible tokens making history in the crypto sphere by driving the NFT market crosses the billion-dollar value and some single NFTs going for millions and this has brought many creators to the platform where they started selling their creations as NFT in OpenSea and attracted many crypto users to buy their favorite NFTs from their favorite creator or collection. OpenSea attracted most of the users to the platform with every update of what their audience needed. Bringing up the solution to the problems in the market and solutions for the user's queries has become the major reason for the success of OpenSea till now.

Rise of OpenSea

Till 2020 before the Covid-19 peak, OpenSea went through a bad phase of hibernation where it has made just $28,000 per month even after 26 months on the web. But OpenSea started its journey with the last hope and after a few months it was making millions by July 2021 it has recorded $350 million in NFT trades and this continues reaching higher and higher crossing the billion-dollar value platform.

The presence of a wide range of collections in the marketplace from various domains that attracts a huge audience space and lets users find their favorite NFTs at a minimum time with easy access by the users has attracted a huge set of audiences to the platform. The growth of OpenSea has led to the development of many NFT markets like OpenSea. Many Opensea Clone markets has been developed and launched by many cryptopreneurs with their own ideas and functionalities developed over their favorite blockchain ecosystem.

Idea of OpenSea

In 2017, the world experienced the first decentralized platform built on a blockchain with the birth of crypto kitties. This moment made Devin Finzer and Alex Atallah launch the first open NFT marketplace on the Ethereum blockchain network. Then this evolved with multiple features like the multi-chain concept with the Polygon ecosystem and introducing the ultimate feature where no one would have thought of this accepting debit/credit cards instead of cryptos. OpenSea has taken its place to greater heights by introducing its unique way of approach and now again OpenSea proves they are a way much forward than any other marketplace by bringing the multi-chain platform with the Solana blockchain network from April 2022.

As Solana is making its place worthy in the crypto sphere many crypto users are on the way to Solana and many have started their investments in Solana. So, reaching out to Solana will be a great deal for OpenSea as Solana makes its path targeting the future. Solana's proof of history, faster transactions, and less gas fee will be a great deal for the users and the OpenSea platform will move steps further in bringing up the traffic and rising up the platform profit to the next heights.

Summing up

The travel of OpenSea has just started and the crypto sphere will be witnessing more changes in the upcoming years with its own strategy. OpenSea is the leading NFT Marketplace with high market value and also it comes as the first platform with the most number of NFTs traded. After several phases of work, OpenSea managed its place in the NFT world and kicked off its growth in the crypto sphere. With Dune analytics it seems that by January 2022 it has recorded the highest volume ever with OpenSea’s Polygon NFT of 2,685,757 and OpenSea's Ethereum NFT was about 4,968,834,938. And now taking Solana into the platform the volume count will be increasing further in the upcoming years. Many Blockchain Development Company are making their work on popular marketplace clones like opensea clone, rarible clone and more because of its success.

react to story with heart
react to story with light
react to story with boat
react to story with money

Related Stories

L O A D I N G
. . . comments & more!