Exploring the Unique Features of OpenSea Pro
OpenSea has launched a new trading platform tailored to professional traders. What sets it apart from the main platform, aside from the “Pro” branding?
OpenSea is a well-known name in the NFT industry. The platform serves nearly 2.5 million users and boasts a daily trading volume of over 8000 ETH. With its extensive token listings and user-friendly registration process, it has been a market leader for a significant period. However, the emergence of Blur as a competitor and a notable decline in trading volumes have prompted the platform’s founders to take decisive actions in order to retain their customer base.
How OpenSea Pro differs from the traditional platform
While OpenSea caters to a broad range of users, from beginners to experienced collectors, the new platform aims to provide a seamless trading experience specifically designed for professional traders.
The primary features of OpenSea Pro have already been utilized by developers in the past; they have now been consolidated into a unified functionality.
For instance, the Gem V2 application previously fulfilled the declared capabilities of an aggregator before the launch of the new platform. It was integrated into the system six months ago, enabling traders to purchase tokens from different collections across various platforms in a single transaction. This resulted in a significant reduction in gas fees.
Now, Gem has evolved into a standalone platform with the added “Pro” designation, offering traders the ability to monitor 170 trading platforms simultaneously.
OpenSea Pro comes with several enticing benefits for the trading community:
- Zero fees: During the promotional period (specific dates yet to be announced on the official website), customers can list the most popular collections on OpenSea for free through OpenSea Pro.
- Rewarding active participants through NFT giveaways: As of April 5, the platform reported that 43,300 users who joined the Pro system have already received their rewards.
- Mobile trading functionality: OpenSea Pro introduces a mobile version of the trading interface, allowing users to conveniently engage with NFTs on their smartphones.
- Optimized smart contracts for gas payments: Unfortunately, detailed information regarding the specific optimizations is currently unavailable.
- Expanded orders that enable traders to leverage the liquidity of any NFT market aggregator.
This appears to be OpenSea's response to Blur's aggressive marketing tactics. In March 2023, Blur dominated the NFT transactions with a 69% share, leaving OpenSea with only 20%. It remains to be seen whether OpenSea Pro's NFT rewards program will be able to challenge the appeal of Blur's internal token rewards.
We are witnessing a battle between two trading philosophies: Blur emphasizes pure profit and the reselling of stolen NFTs, while OpenSea focuses on the artistic value of tokens and the protection of intellectual property rights. In the coming months, traders and collectors are likely to actively engage with both platforms as they compete for dominance in the market.
Despite the competition, OpenSea remains optimistic, stating that they have prepared a user-friendly environment to accommodate 100 million new users within the project's new ecosystem.
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