OpenSea Promises to Launch a New Platform
OpenSea has announced plans to launch a revamped platform in December and reclaim its position in the market.
At a recent X conference, CEO Devin Finzer gave a sneak peek into the upgraded marketplace, stating that they have been working on building a completely new version of OpenSea.
This launch comes almost a year after the company downsized and started developing what Finzer referred to as “OpenSea 2.0.”
OpenSea was once the top NFT marketplace, but it lost a significant portion of its market share to competitor Blur in late 2022.
Despite a recent improvement in market share, OpenSea has struggled with the overall decline of the market, with trading volumes reaching their lowest point in more than three years.
OpenSea’s upcoming revamp, which will have an early access waitlist, indicates a move to cater to traders’ desire for advanced features and incentives, a strategy that worked for Blur in disrupting the market.
