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What’s OpenSea?

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What’s OpenSea?

What’s OpenSea?

OpenSea is an eBay-like site where people can browse millions of NFTs (non-fungible tokens), buy the images, and put their own up for sale. Since 2021 OpenSea has become the largest NFT marketplace worldwide. The company has raised more than $400 million from investors, at a value of $13.3 billion.

Troubled waters at OpenSea

NFT sales have dropped about 90 percent since September 2022. According to a June 6 New York Times report, OpenSea has seen a surge of NFTs seized by hackers and plagiarized NFTs, as sellers convert traditional artwork into NFTs and then list the images for sale without compensating the original creator.

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