OpenSea at dawn: will Web3 be the answer to everything?

On January 10, LookRare, a community-driven NFT trading platform, announced and distributed LOOKS airdrops to select OpenSea users. If one of the beneficiaries of this template was created for the latest generation NFT industry's "Most Rewarding Gift For A Subject", the sword can be said to stand for OpenSea.

On January 9, the day before Lux Rare was dropped, the OpenC service was suspended. This is not the first time that OpenSea has failed. Although OpenSea supports Polygon, the business is still dominated by Ethereum. Problems such as collisions and delays occur more frequently and fuel costs are higher. .

There are external competitors that focus on this, and there are internal devices with insufficient performance, OpenC causes internal and external interference. What are the challenges of OpenSea today? What is a ditch? Will you enter the world of Web3?

as a goal,What is the OpenSea divide?

Despite the controversy, the success of OpenSea is now indisputable.

2021 is the year the NFT industry explodes, and OpenSea, the most powerful in the industry, explodes as well. According to data from Dune Analytics, from December 2020 to December 2021, OpenSea's total market volume increased by 90.968%, and its market share also increased steadily from 61% in July 2021 to 95% at the end of December. 2021, which resulted in this. 1, 2 Best SuperRare is only available on 1 / 24th and 1 / 6th of all OpenSea packaging customers and major users.

Even until 2022, OpenSea is still rock and roll, and as of January 9, the company had revenues of over $ 260 million, the highest in more than three months. As of January 10, OpenC's product portfolio in January was nearly $ 2 billion, accounting for 61% of the packaging market in December of last year.

On January 4, OpenSea announced that it had finalized a $ 300 million Series C funding with an investment following an investment of $ 13.3 billion, a value that has increased six-fold from the previous competition of 100. million dollars in Series B funding.

This performance has nothing to do with OpenSea's revenue advantage. According to reports from various crypto research institutes, OpenSea's performance gains are largely affected by three factors:

(1) opensa opensa permission to the NFT to create and sell NFT without paying a gas cost. This reduces the involvement involvement and resources of long-term preferences that attract users and businesses in basic and secondary business.

(2) OpenSea is integrated and has a rich heritage, this concept of endurance is the key to competitive advantage and OpenSea has also become an industry favorite / printed product for various early treasures.

(3) OpenSea has more NFTs that you can "buy now", and the more NFTs you can buy now, the more marketable they are.

Liquidity has built up over time in the form of OpenSea moats at this point. W3.Hitchhiker said, “Because OpenSea's NFT sales are non-standard products, the products are easier to migrate than the platforms that deliver the products, and the NFT market itself has bad water.

Faced with a liquidity gap, does the recent raging revolt against OpenSea really matter to OpenSea?

stop in a group,What are the problems with OpenSea?

Last Christmas, OpenSea users complained about the delay time of OpenSea coins and many features like the signal's IPO capability, and they set up a stand-alone organization called OpenDAO for SOS tokens. airdrop for OpenSea users. This amounts to advertising coins for OpenSea which seems to work in addition to the OpenSea platform. While OpenDAO is expected to go one step further and work with other NFT vendors to develop OpenSea distribution alternatives and launch a new NFT ecosystem, OpenDAO doesn't seem to be starting to materialize, but the big hype is growing.

Unlike OpenSea, which uses products to bring users together and build communities, OpenDAO and SOS don't have a primary purpose, but have a better description. OpenSea users can be smart by capturing and dropping open data on the channel. Intuitively expands the gas range of OpenSea Fei. I did. , which caused a lot of uproar and controversy over OpenDAO, followed by emojis such as "OpenSea, I would notify the police if you don't send coins", which created OpenDAO on time in short, its strength has increased overtime.

You can see that OpenDAO goes against the inconsistencies with OpenSea. This means that the tokens will be used up front to collect users and Ideas will be used to store the token rewards, but it is not yet clear whether the tokens will actually be used afterwards. . Now, SOS is like a meme currency, and SOS earnings are paid by secondary industry traders. According to data from CoinGecko, the value of the SOS token hit a new high of $ 0.00001108 days after the airdrop, but has since fallen 64%.

The rise of community power in this case requires special attention. OpenDAO's "anti-virus" campaign has harmed OpenSea and its users, putting users at a disadvantage in the first place. It also highlights advancements in blockchain technology and Web3 culture that continue to empower communities and users. User actions and support data for the platform must be optimized, the old site must be removed and a new agreement must be established. These ideas are what OpenSea needs to capture and reflect on. And with the easy-to-use CAD tools and procedures, user perceptions can be highlighted at any time. "DAO". it can.

There is nothing to fear for OpenDAO, which says "not working", at the moment, but Lux Rare, released on January 10 and parachuted in, is close to a "vampire attack" on OpenC. LookRare, a community-run NFT trading platform, announced today that it will purchase Airdrop LOOKS tokens for users who traded at least 3 ETH at OpenSea from June 16 to December 16, 2021, directly focused on the OpenSea user base. LookRare is also building the mining industry, value-added commitment and mining capacity. These financial supports can cause real problems for the OpenSea model. There are also real world features of OpenSea: TreasureDAO, Mintable, and more. competetion.

When you say “vampire attack,” it goes back to Sushi Exchange 2020. Similar to the situation at OpenSea, UNIswap, the DEX leader at the time, did not issue any coins, and SushiSwap forged Uniswap to issue tokens, separating the majority of Uniswap users. At the time, Uniswap's campaign was to provide UNI tokens.

So, buy OpenSea emission coins? Are we going with Web3?

Where to go,Can Web3 Solve Everything?

On January 4, OpenSea announced that it had completed a $ 300 million Series C funding with an investment following an investment of $ 13.3 billion. OpenSea's four-year history has raised more than five financial rounds, and most of the attendees are “new money” tied to the crypto industry. ", and the names popped up. First, Koa Chu, private equity (PE) and hedge funds, came out, and it's so hard I can't remember OpenC loan's IPO approach.

OpenSea said in an IPO announcement in early December that it "has no plans for an IPO. If there is a plan, it will seek community participation," but the power involved in it. the IPO was not discussed. Communities don't believe in spreading ideas straight from the birth of OpenDAO.

The basis of OpenSea's strengths and users' surprise is that OpenSea is now a Web2 application developed by the Web3 world. We still do not know where "the four differences" will go.

OpenSea has created a wallet as always, one of the hallmarks of Web3 functionality since its inception, but OpenSea is not enough with Web3 and not on the channel.

This competition twists the control of OpenSea. On the other hand, we want to be open as a decentralized platform, so there is no monitoring phase when users create NFTs, and on the other hand, they can directly delete NFTs from intermediate users. or frozen. As a result, great controversy erupted in the community, for example, the political artist accused the platform of "political censorship" of his NFT work, and in the latest $ 2 million BAYC robbery, OpenSea sued for theft. .

It seems that OpenSea cannot be faulted, but the entire NFT industry is in trouble. Yang Mindao, founder of dForce, tweeted that the platform should protect creators / creators' IPs otherwise they can't like them, but the platform does and becomes Web2. The token alone cannot solve the problem.

There is more than a stalemate when it comes to Web3 development now, and a recent article led to a discussion of "integrating" the Web3 world.

This article was written by Moxie, author of OpenSea. Moxie advertised NFT and sold it on OpenSea, but found that there was no proven process in the process, so they deliberately set the image to look different for each IP. That is, the photo I saw on OpenSea, and look at other photos after purchase.

The centralized OpenSea platform quickly removed these NFTs, but oddly enough, Moxie discovered that the NFTs in his MetaMask wallet were also gone.

In other words, MetaMask also has an intermediary function that scans the OpenSea API directly without having to identify the blockchain to be efficient.

The point here, Moxie points out, is that while blockchain has many advantages, it is not possible to make all chains work at this point. In a competitive environment, we can always stay on ready-to-use ecosystem tools, so there is a tendency to move from distribution to distribution. The same goes for users. How many modern users are running their nodes?

Therefore, Web3 must be able to intercept and validate the data while the building is still in the middle. In other words, users can use root in OpenSea, but there should be an easy way for users to find out whether OpenSea is cheating on them or not.

However, Buterin responded to Moxie by saying that the real world of Web3 has to be ever-changing, among the best mid-range platforms and the toughest users. , many states change according to different application scenarios. However, today the average. ground already. Yes

That happy medium could be "LooksRare" growth. They may not clutter the lands of OpenSea, but they will have their place. OpenSea is not the only way to integrate with Web2 and Web3. How to get the most out of first come and performance, how to retrieve users and keep the key, always open for OpenSea to explore.

epilogue

As an early start-up, OpenSea survived the cold winter, embarked on the development path in the NFT market and related fields, and shared large dividends in the industry generation. Today, we are faced with many challenges that lie at the crossroads of Web2 and Web3. In terms of the technology that supports the users, we'll see where to go.

There are so many new words or ways to play that can be frustrating for OpenSea and make people think they have an invite to the Web3 world, but every hill in the process needs more. chart.