Crypto space never runs out of new innovations that turn everyone's attention to it and raise their brows. A recent trend in this is the sudden surge of NFTs and trading digital assets on the blockchain. With every day, they are evolving with the new forms of tokenization. There are many cases that revolve around the severe uses for these innovations, but the use cases though, revolve around fun and gaming. Let's look at what we are talking about right now in detail.
What is OpenSea?
The company was founded by Alex Atallah and Devin Finzer in January 2018. OpenSea is the largest peer-to-peer marketplace where collectibles, game items and more virtual goods are secured by a blockchain. Which to make it more relatable, is eBay for digital goods. The goods are digital items that you can collect and own 100% authority. Once you pay for them through this platform, it's yours. Intelligent contracts are through which you can buy or sell the items. So it is entirely secure. The main partners of OpenSea are Coinbase, Founders Fund, Blockchain Capital and IC.
How does OpenSea trading take place?
Trading on this platform is nothing like what we expect from the other party in conventional trading. There's no need to lull over the fact that your counterparty will behave honestly. No! You don't even have to trust this platform because the transactions are purely based on smart contracts and technology only.
