InstaForex

Get acquainted with OpenSea, a Platform for NFT Transactions that Makes Ghozali Everyday Rich Suddenly

 


NFT or Non-Fungible Token is still being discussed. Most recently, Ghozali Everyday suddenly became rich because he sold a collection of selfies that he had had for the past few years.
The NFT itself is a digital certificate of ownership that cannot be duplicated, so you will have the digital ownership rights, but not the whole work.

He sells it on OpenSea. So what is OpenSea? Check the explanation below, come on!

NFT Buying and Selling Market
NFT, which is currently being discussed, transactions must be on a special platform. Well, OpenSea is one of those special platforms that was developed by Devin Finzer and Alex Atallah in 2017.

Quoting from its official website, OpenSea is a peer-to-peer marketplace for NFT, and claims to be the first and largest in the world as an NFT marketplace.

Oh yes, it is known that there are already more than 300 thousand users with more than 34 million NFT in this marketplace. The transaction volume on OpenSea has also reached more than USD 5 billion.

Now, talking about the digital currencies used, including Etherum (ETH)/WETH, USDC, and DAI. However, it is known that most users use Etherum (ETH).


According to a report by The New York Times, OpenSea is the most valuable private company in crypto. The valuation is estimated at USD 13.3 billion, after receiving new funding.

In addition, OpenSea is also dependent on fees collected from transactions. Each creator who sells their work on OpenSea will be charged a 2.5 percent seller fee.

It is compensation for the services rendered to the creators. For example, if a user manages to sell an NFT work worth 100 ETH, the user will save 97.5 ETH. OpenSea will earn 2.5 ETH from the sale.

But for buyers of NFT works, OpenSea is known to not impose any additional fees.
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