NFTs are blockchain-based records that represent pieces of media in a unique way. When you buy an NFT, just like when you buy a tangible item, you have complete ownership over it.
You can transfer it, sell it, use it as collateral, lend it, or keep it to admire. Digital art, virtual land, sports, and collectibles are some of the first applications for NFTs.
Part of our primary assumption when we raised our second crypto fund last year was that crypto and NFTs would stimulate new business models for creators.
More than 3 million NFTs are available for purchase today, with sales volume on the leading sources increasing 400% year over year to more than $100 million per week.
NFTs are becoming more well-known, and they represent a whole new economy based on digital ownership.
Despite the enormous potential, NFTs had been rather perplexing for regular users, similar to the internet before the browser.
There was no easy way for producers and collectors to find and see unique digital assets across platforms, and there was no straightforward way to acquire them. It was also difficult to learn about their origins and history.
Few people want to invest the time and effort in figuring out the provenance of their unique digital asset, even if they are technically savvy and know how to put together blockchain data.
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How To Invest In OpenSea?
For now, you can only buy and sell NFTs on the platform, OpenSea is still a private entity and does not have any public offering.
So, you will not be able to invest in OpenSea as an entity but you can sell or buy NFTs on the platform. OpenSea is a critical utility in this new world of digital ownership because it connects the consumer layer with the infrastructure layer for the digital goods industry.
OpenSea is a one-stop-shop for discovering, buying, and selling any non-fungible digital asset that complies with a widely accepted standard such as ERC721.
OpenSea provides a legible and trustworthy view of the provenance, trading, and sales history of digital things.
Consider how Zillow changed the way people search for and compare properties for sale. You could go to the county recorder’s office and physically search for property ownership documents, but it would be complicated and time-consuming.
OpenSea makes NFTs searchable, usable, and organized, much like Zillow takes raw real estate data and makes it usable in a trusted and dependable way at your fingertips.
But, like eBay and Amazon, it also provides a marketplace that connects all platforms and facilitates transactions between all parties.
It’s no surprise that OpenSea’s growth has been off the charts, with transaction volume increasing 100x in the last six months, given the importance of this consumer layer in such a fast-growing field.
For now, OpenSea tokens or OPNs are not available to let people invest in the platform. We will keep you updated on when the OPNs will be available.
Conclusion
OpenSea is a marketplace that involves NFTs and crypto goods and materials that can be easily bought, sold, and invested in by the users.
The platform has proved to be effective in its functioning and has provided its users with profitable investments.
