NFT 5 activity could overtake OpenSea in 2022

OpenSea has always been the most important distribution platform for users who want to export, buy, sell and trade non-fungible tokens (NFTs). OpenSea is an NFT aggregator rather than a site. According to data from Dune Analytics, OpenSea achieved sales of US $ 3.25 billion in December 2021 alone. From December 2020 to December 2021, total production increased significantly. 9 0968.

OpenSea does not respond to controversy and criticism, and always comes with risks and pitfalls. Most notably, it was reported that former chief product maker Nate Chastain used inside data to sell the platform ahead of NFTs and took advantage of it.

Mistrust in the community grew after newly elected CFO Brian Roberts reported on the IPO. However, it was quickly reaffirmed that OpenSea had no plans for future releases.

OpenSea may be the largest NFT industry by volume today, but it will surely have competitors looking to eliminate massive NFT in 2022. Here are 5 NFT industries that may disrupt the above candidate in a few months.

Coinbase NFT

Coinbase seems to like the premise of being a major driver of adoption. Capitalizing on the popularity of NFTs, Coinbase competes with OpenSea to develop the NFT industry, Coinbase NFT. The waiting list is said to be over 1.1 million, more than all regular OpenSea users.

OpenSea monthly active traders Source: Dune Analytics

Coinbase NFT's announcement is a sign that NFTs may benefit more and more as digital devices continue to become more important. Coinbase NFT can change the order of products if NFTs know how to connect culture and business. At the same time, the project has developed a collaboration with the series World of Women, DeadFellaz and Lazy Lions.

The market has yet to be announced, but the waitlist shows that many traders are new to the technology or in need of changes from the ones they were already using. According to Coinbase's announcement, Coinbase NFT will be "... peer-to-peer with established experience in the real estate market". The product line has started to comply with ERC-21 and ERC-1155 standards and will support multiple channels in the future.

While Coinbase NFT primarily serves as a trading business, the company has hinted that it will also serve as a place of "help connectivity." To date, Coinbase operates in over 100 countries and announces over 73 million users, with a quarterly market share of $ 327 billion for Coinbase users, proves the significant value of tourism.

In addition to the packaging industry, Coinbase offers an excellent user experience (UX) and a simplified, usable and transparent user interface (UI) design. A lot of people on Twitter aren't happy with OpenSea's UX / UI design, but a lot of other platforms have access issues that OpenSea doesn't.

FTX NFT

Unlike Coinbase NFT, the FTX market started as one of the Solana-based NFTs in October and expanded the series to the Ethereum blockchain. Unlike OpenSea and Coinbase NFT, FTX NFT is not a peer-to-peer platform, so it centrally manages and user data is stored and stored on a dedicated network. This means that users and authors are assigned a membership in certain cases.

As is fundamental, the platform prefers to leave its owners with a lack of independence, with more restrictions and restrictions due to security decisions. OpenSea users had full freedom before selling their digital devices, while the FTX NFT was a hybrid machine. Brett Harrison, president of FTX.US, said in a statement: “By not having to pay fuel for betting etc, we will see more costs move and find value on the platform., and we hope that will lead to a prosperous economy. ”

This compliance has had a major impact on the Solana NFT series, with a lot of work to be undone promised on costs, as FTX NFT declares that it will no longer support work that gives its owners this right.

The results came as a result of concerns from US regulators. Ethereum network plans are checked to ensure they comply with legal security and are not counterfeit. OpenSea therefore maintains a fair range of NFTs, so that it retains its value.

Despite some setbacks, the market gained ground and posted lower prices than its competitors. The standard rate for FTX NFT is 2% and the standard rate for Coinbase is 2.5%. The platform seems to exclude users with wallets that aren't the gatekeeper after all, but its main focus is usability.

rarely

Long before OpenSea hit the top of the list, Rarible's monthly revenue was higher than OpenSea's. Although OpenSea users have made the platform available to the community through RARI, the policy has been waiting for a long time, Rarible has failed to maintain its leadership on OpenSea.

Total market volume on the platform in November was up 4% from October, averaging $ 18.2 million. However, the total monthly market share is unreliable compared to OpenSea.

For Rarible, we understand the advantages of a collaborative approach, like the FTX NFT market. Rarible has already started supporting NFTs on the Flow and Tezos blockchains, and plans to support Solana and Polygon in the future.

Monthly volume (level 1 and level 2) Source: Dune Analytics

With its decentralized design and versatile NFT support, Rarible could become a serious contender in 2022.

Zora

Zora claims to support Web 3.0 and distribution. Because Zora advertises the entire platform "on-chain" without permission. As Decentralized Autonomous Organizations (DAO) like these principles, the platform collects costs through purchase history.

Zora embraces the value of zero and focuses most of her strength on the basis of her unlicensed contract. Many crypto experts have been impressed by the idea that artists and producers have more independence and ownership of their work. If these issues are still worth looking into in 2022, it could bring new users to Zora.

Magical eden

Magic Eden is now the largest NFT industry in the Solana network and one of the top 10 NFT industries, with market volume reaching $ 267.14 million since mid-September 2021, according to DappRadar.

Over the past two months, the number of Special Wallets has declined and increased steadily, making it a serious competitor to OpenSea. Although users are known to have more than one wallet, this means there will be fewer specialist users.

2% lower cost compared to other competing platform providers, and like FTX NFTs, users can print their NFTs for free. As can be seen from the figure below, Magic Eden's trading volume is typically 2-3 times that of OpenSea.

Eden Magic has more of a profession but less of a switch than OpenSea. According to DappRadar, Magic Eden collected over 4.5 million transactions in the past 30 days, and OpenSea completed less than half, 1.7 million, but the total volume was just over five times that of Magic Eden.

As the pace of development of NFT has decided and digital devices continue to become more important, more and more people are entering 2022 and their preferences will not match OpenSea. With a focus on ease of access, supervision and customer awareness, these five NFT industries are strong competitors for top-notch applications.