OpenSea: The Reasonable Revolutionary | The Generalist

OpenSea’s ValueFirst, two more OpenSea stories from over the break. From Be In Crypto:NFT marketplace OpenSea has frozen $2.2 million worth of Bored Ape (BAYC) NFTs after they were reported as being stolen. The NFTs on the marketplace now have a warning saying that it is “reported for suspicious activity.” Buying and selling of such items are suspe... See more

Katie: Not everything in crypto is decentralized in terms of business models. For example, Coinbase is a centralized exchange. Like Coinbase, OpenSea is centralized. The difference between the tech giants and OpenSea is that OpenSea takes a modest take rate on every sale. The powerful difference is that the vast majority of the money that is being ... See more

But there’s an equally important force, the one that keeps OpenSea in line: competition combined with portability of assets. If OpenSea were to start charging 5% or 10% or certainly 30% to sit in between sellers and buyers, people would move their business to another platform immediately. For decentralized protocols, which are open source by defaul... See more