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Explaining OpenSea - What is OpenSea and How Is It Used?

Written By Ivan on Tech

Feb 20, 2021

OpenSea is a decentralized non-fungible token (NFT) marketplace for buying, selling, and trading NFTs. In fact, OpenSea brands itself as the biggest marketplace for digital goods. As such, it’s worth taking a closer look at OpenSea and what the platform adds to trading NFTs. Moreover, this article explains how to use OpenSea, as well as what NFTs are. The difference between fungible tokens and NFTs is that they have unique characteristics and identifiers and are not interchangeable. Another way to think of them is that NFTs represent things, not currencies.

The first decentralized NFT marketplace was OpenSea, founded in January 2018. So, you can see how new NFT marketplaces are. Founders Alex Atallah and Devin Finzer decided the ecosystem was ready for an NFT marketplace after seeing CryptoKitties in action. 

Since then, OpenSea has experienced significant growth, as have NFTs in general. Some big-name players like Mark Cuban, Gary Vaynerchuk, and Chamath Palihapitiya...

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