Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

OpenSea has launched No-Fee ‘Pro’ marketplace with NFT rewards

OpenSea has launched No-Fee 'Pro' marketplace with NFT rewards

In conjunction with the release, the standard 2.5% marketplace cost will be reinstated on the core OpenSea platform, with no fees for Pro users.

OpenSea, the largest NFT marketplace, announced on Tuesday the launch of OpenSea Pro, a more complex NFT marketplace designed for the increasing community of professional NFT traders who have contributed to Blur’s success from its inception.

The new product is simply a rebranding of Gem’s NFT aggregation platform, which is currently at version 2. In April of 2022, OpenSea purchased Gem, allowing its users access to Gem’s high-end trading tools.

OpenSea Pro will provide the greatest discounts for dealers by aggregating listings from 170 different markets. Trading “floor sweeping” will be taken to a whole new level, with features like instantaneous transactions, inventory management, gas cost optimization, a watchlist, and more. It can be accessed via mobile devices as well.

OpenSea CEO Devin Finzer told CoinDesk that Gem was instrumental in the development of OpenSea Pro, the industry standard for trading NFTs.

Finzer remarked, “This is a significant step up over [Gem v1], which is a terrific aggregation tool in its own right.” “Everything happens in real time and at a breakneck pace. It’s the quickest method currently available for buying NFTs online.”

Blur vs. OpenSea

OpenSea and the zero-fee platform Blur have been locked in a fierce competition to gain market share in the NFT trading space since the marketplace’s introduction in October. As a result, in an effort to entice Additional traders, OpenSea has eliminated its marketplace fees entirely.

Upon the launch of OpenSea Pro, OpenSea announced that the marketplace fees would return to the standard 2.5% on the main platform.

The money we make from fees, said Finzer, “will be invested into making the space stronger in the future.”

The timing of OpenSea’s release of OpenSea Pro is interesting, given the intense competition between Blur and OpenSea for market dominance. Finzer, however, assured that OpenSea would continue to put an emphasis on partnerships, primary drops, and smart contract standards as tools for retail traders and creators.

According to Finzer, “We’re investing in really exciting features that make it easier for people to explore and purchase their first NFT and then really push the use cases forward for NFTs,” said Finzer. Folks can come to OpenSea and graduate to a professional experience.”

Content Source:

About MahKa

MahKa loves exploring the decentralized world. She writes about NFTs, the metaverse, Web3 and similar topics.

Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *