Summary
OpenSea, the leading NFT marketplace, is transitioning to OpenSea 2.0 with a leaner team. They announced support for the ERC721-C standard to enforce creator royalties. The marketplace is reimagining the user experience and considering combining platforms. OpenSea’s market share has decreased, with Magic Eden emerging as a competitor. OpenSea is exploring the possibility of launching its own token and supporting Bitcoin Ordinals. They are focusing on layer-2 networks to reduce transaction costs and bring NFTs to the masses.
Key Points
1. OpenSea is transitioning to a new “OpenSea 2.0” launch with a leaner team following layoffs, focusing on adapting to changing trends in NFT royalty enforcement.
2. OpenSea recently announced support for the ERC721-C Ethereum NFT token standard, allowing project creators to enforce royalty fee payments on secondary market trades.
3. The marketplace is reimagining its platform by combining OpenSea and OpenSea Pro, developing a streamlined onboarding experience for users, and creating custom interfaces for categories like gaming and ticketing.