Opensea’s Major Adjustments in Response to Market Changes

02/18/2023 21:44 • AI & Tech Insights • 145 views

According to reports, Opensea’s official Twiiter announced that in view of the changes in the market ecological environment, the following major adjustments will be made: First, the time-limited transaction activity of zero service charge will be launched; 2、 Enable optional copyright services with a minimum standard of 0.5%, applicable to all non-chain compulsory royalty series; 3、 Update operator filters to allow NFT markets with the same policies to jointly increase market liquidity.

Opensea announced the launch of the time-limited 0 service fee transaction and the non-mandatory implementation of the optional royalty service

Interpretation of the news:

Opensea, one of the leading NFT marketplaces, announced a series of major adjustments to their platform in response to changes in the market ecological environment. The three major changes include the launch of a time-limited transaction activity with zero service charge, the option to enable copyright services with a minimum standard of 0.5%, and the update of operator filters to increase market liquidity.

The first major adjustment is the launch of a time-limited transaction activity with zero service charge. This move aims to attract more buyers and sellers to the platform and encourage more transactions. This is a significant advantage for users who will be able to save on transaction fees during the promotional period. This is a smart move for Opensea as it will likely draw more users to the platform, who can then potentially become long-term users.

The second major adjustment is the option to enable copyright services. This is a great feature for non-chain compulsory royalty series. With Opensea’s optional copyright services, creators will enjoy greater control over their work and be able to protect their intellectual property. This feature will help boost creators’ confidence and encourage more creators to join the platform.

The third major adjustment is the update of operator filters to increase market liquidity. This new feature will allow NFT markets with the same policies to jointly increase market liquidity, which will create more buying and selling opportunities for users. It is a great addition to the platform, as it will provide users with more options and create a more dynamic marketplace.

These three major adjustments come at a time when the NFT market is undergoing significant changes. Opensea’s adjustments show their commitment to staying competitive and providing the best possible service to their users. The time-limited transaction activity is a great incentive for users to try out the platform, while the optional copyright services and the update of operator filters are smart and valuable features that will further enhance the user experience.

In conclusion, Opensea’s major adjustments in response to market changes are a positive move for the platform and its users. These changes not only create more opportunities for users but also show Opensea’s dedication to staying competitive and adapting to the evolving needs of the NFT market.

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