NFT OpenSea platform causes political censorship

In 2021, the NFT collection was well received in the market, but it also created a lot of problems. On November 22, an anonymous agent named "Stonetoss" complained to the media that some key NFT companies represented by OpenSea had received "censorship rights" from master cartoonists. “The concept of freedom of expression through digital advantages.

“Hello Opensea, I called you concerned that your platform is being used as a censorship tool. I also sent this message to your support page. I hope my community of people will write the response. . ”On November 17, political cartoonist Ben tweeted and announced @ on Stonetoss Comics, a major political comic book group.

The artist predicts that "as a platform that calls itself an art market, this question would be very embarrassing," saying platforms such as open time have yet to find an answer.

However, according to the SFL reporter, this request does not appear to have an impact on the OpenSea rating.

Recently, the financial magazine Forbes reported that OpenC's market capitalization could reach $ 10 billion (around HK $ 78 billion) in future investments. If Forbes were right, OpenSea co-founders Devin Finzer and Alex Atallah each held 19% of the capital and would get rich.

OpenSea is an online marketplace similar to eBay where users can buy and sell non-fungible tokens (NFTs). NFT is the only cryptocurrency that can represent ownership of graphics, concert tickets, and in-game products.

OpenSea is often associated with graphics and has popular features like the Bored Ape Yacht Club, CryptoPunks, and Cool Cats. Many NFTs in this book have also sold for millions of dollars, attracting retailers and enthusiastic enthusiasts.

This NFT trading platform has been designed as a conflict leader in this area since its inception in 2017. However, the improvement of OpenSea has not gone well. According to a report from "Forbes", before the concept of NFT was widely known, OpenSea had only 4,000 active users during the 26 months of advertising and received a monthly income of $ 28,000.

OpenSea kept a small team for the first few years, and since the end of 2020 it has only seven employees. With strict management, the company was able to resist the temptation of the cryptocurrency bear market and continued until the launch of NFT.

On July 29, 2021, OpenSea, NFT's largest venture capital firm, finalized a $ 100 million Series B financial environment led by Andreessen Horowitz (a16z) with an investment following an investment of 1.5 million bucks. According to data from Dune Analytics, OpenSea's July market volume increased 119% month-on-month to over $ 325 million, and continued to reach new highs.

Since then, the platform's market volume has grown steadily. OpenSea's monthly NFT packaging business reached US $ 3.4 billion in August 2021, and monthly revenue was US $ 85 million.

Then, on October 7, 2021, according to new data from DappRader, OpenSea exchanges totally exceeded $ 8 billion, constantly updated. In November, the platform generated new records of $ 10 billion in revenue.

OpenSea appears to be more than just a search engine. Its size is well ahead of its similar competitors and never surpasses the Web2 industry. In its latest quarterly financial report, Etsy, the US crafts and accessories website, reported its GMV to be US $ 3.04 billion.

The success of OpenSea is no accident. The breadth of assets, the straightforward advertising process and the robust monitoring capabilities enable Opensea to capture 97% of the shared market share of the Ethereum shared marketing platform.

Running NFT on OpenSea only takes a few simple clicks, like accessing working files and uploading the affected files, not just photos or music.

Compared to other platforms, access blocking is less, which makes it easier for developers to engage. This approach broadens producers, attracting consumers and income to the primary and secondary markets. Alex Gedevani of crypto research firm Delphi Digital described it as one of the decisions that made OpenSea a leading player in the industry.

Other industries have followed suit and made NFT products easier to launch, but OpenSea has clearly seen the forefront in this regard.

OpenSea divides its products into eight categories: Art, Music, Domain Names, Virtual Worlds, Trading Cards, Collectibles, Sports and Functional Assets. As the outside world knows, “collectibles” turned out to be the most popular category. The company's website contains over one million archives of the platform and over 34 million private NFTs available for purchase.

This good idea is the key to competitive advantage, according to Mason Nystrom, analyst at Messari, an encrypted data platform.

OpenSea is integrated and has multiple assets, making OpenSea the preferred trading / investment platform for many of its early assets. OpenSea also allows developers to set their own pricing rights for secondary sales on other platforms and provide better listings.

Maria Shen, Partner of Electric Capital, highlighted the importance of OpenSea platform revenue in her writing. There are many NFTs that you can "buy now". Knowing the “buy now” mechanism is important because the more “buy now” NFT users have, the more marketable they are.

By integrating all aspects of NFT assets at all levels, OpenSea itself has become an integral part of the NFT ecosystem, and it will be difficult for competitors to change that perspective and that situation.

OpenSea rolls east of the NFT industry and sings to the end. Today, people from all walks of life are increasingly aware of the NFT market and are starting to introduce digital products into their businesses to appeal to consumers. CNBC released 86,000 NFT-banned versions of "Spider-Man: No Match, No Return" by US movie channel AMC and Sony Pictures (Sony Pictures), and sold pre-orders for the first time. . announced that it will be handed over to designated persons. , so that CMA members are elected on a first come, first served basis.

All the rubbish was thrown into the NFT, including Works' handwritten "job request", the body of a Polish actor, photos of Zhang Daqian, a film by Wong Kar Wai, emojis, amulets, reaction passports, etc.

Aleksandra Artamonovskaja, founder of London-based conservation consultancy Electric Artefacts, also said she will buy and sell more NFT avatars. "I pay rent from the internet jpg movie business. That's what I told my parents."