OpenSea, the largest non-fungible token (NFT) marketplace, has re-ignited the conflict by publishing their own “pro” trading tools this week, just when we believed the dust had settled from Blur and OpenSea’s combat for purchasers.
Technically more of a rebranding than a new product, OpenSea has renamed and repurposed the trading tools formerly known as Gem as an elite suite for all traders.
The monarch of marketplaces is now known as OpenSea Pro and provides merchants with over 170 listings, floor-sweeping tools, inventory management options, collection and trait offers, and much more.
It’s a program that’s been long neglected, and with these new tools, OpenSea aims to stem the flow of users to Blur.
They do not receive rewards similar to the BLUR token distributed to Blur marketplace merchants. OpenSea intends to recompense traders with a different form of token, commencing with an NFT that previous Gem users can claim for free. Gemesis, the first reward, is a limited-edition NFT created to commemorate OpenSea’s new milestone.
We can only speculate as to what future OpenSea NFTs will be, but I’m hoping for traditional art rewards and perhaps exclusive tokens that grant on-site access to tools or early mint access. When it comes to the inventive utility that can be granted through NFTs, the ceiling is the limit. Occasionally, CryptoSlam offers a SkyBox non-fungible token that enables the holder to advertise at the top of the leaderboard. Let’s see if OpenSea paid attention.
OpenSea Pro’s impact on the market has been negligible thus far, with the two trading days since its introduction being among the weakest of the year. Since the release of OpenSea Pro, the Forkast 500 NFT Index demonstrates a market decline of 1.22%.
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