Change course to face stormy seas. This is the OpenSea project, which announces a brand new platform available next month. What will it look like?
OpenSea promises a whole new platform
OpenSea CEO Devin Finzer announced this change on the X platform. He claimed that the platform teams had “discreetly cooked» a project :
“To truly innovate, we sometimes have to take a step aside and reimagine everything. So we built a new OpenSea, from scratch.»
According to Devin Finzer, the project will take off in December. He also shares the link to a queue for those who would like to register on this new platform:
A new OpenSea is coming. December 2024.https://t.co/boxnb1CiYi pic.twitter.com/hIQ1dSpA41
— OpenSea (@opensea) November 4, 2024
The site is stingy with information: the most you can do is connect your wallet. We don't know much more at this stage about the changes made to OpenSea. We should learn more in the coming weeks.
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Difficulties at OpenSea for over a year
Historical juggernaut of non-fungible tokens (NFT), OpenSea has been in difficulty in recent months. The company had to let go of half of its employees a year ago almost to the day, due to revenues which had fallen sharply. Since then, other difficulties had accumulated, including a warning letter from the Securities and Exchange Commission (SEC).
🌐 To find out more – OpenSea receives a notice from the SEC: NFTs soon to be banned?
Market shares of different NFT platforms
Last January, OpenSea said it was “open” to a takeoverafter the fall in volumes and the arrival of a major competitor called its hegemony into question. 11 months later, the platform has not been acquired. But it is counting a lot on this new version, which could allow it to continue to exist in an ecosystem that has become more competitive.
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Source: Devin Finzer via X, The Block
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Journalist at Cryptoast since 2017, I am passionate about the issues of decentralization, privacy and regulation. I specialize in traditional economics and finance by analyzing how industry news influences the cryptocurrency industry, providing a unique and informed perspective to Cryptoast readers.
Marine Debelloir
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