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News From The NFT Marketplace Battle Arena
Last Updated: April 05, 2023
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OPENSEA VS BLUR
The OpenSea team has announced the launch of a Pro version of the Gem v2 aggregator-based marketplace.
OpenSea Pro is based on the updated and slightly extended version of the aggregator Gem v2. The platform aggregates listings from 170 resources, which certainly simplifies trading.
However, most of the other changes are cosmetic in their nature.
It translates to finding a new way to compete with Blur, the NFT marketplace! But do they have a chance? And what does the PRO version add?
As a reminder, OpenSea bought out Gem's studio last April. But, with the launch of Blur last autumn, OpenSea lost a significant market share.
All in all, the Aggregator does look like a promising project, but it is unlikely to help the marketplace regain its market position.
Together with the support of the new project, OpenSea brought back commissions on the main resource (non-pro version), which caused a negative reaction from users.
But on the newly launched pro version, the commissions are 0%.
Nevertheless, attentive users noticed that the OpenSea version... Looks kinda familiar. As if someone copied their homework from... Blur.
In the future, the developers promise to add new features. In particular, a system of rewards for the most active traders.
The system of rewards in NFT for traders on the PRO version should, in theory, have the same effect as Blur's airdrop. But it will probably have little effect on most users.
Due to crypto regulations, OpenSea is not outspoken about plans to launch a token.
Though, who knows - anything is possible.
So, what does the situation look like right now?
Trading (or washtrading) on Blur might be incentivized since there are expectations about yet another airdrop.
Newly listed collections attract attention to participate in such trading. Since they attract buyers besides traders, therefore traders build their volume faster, aka improving their chances for a better airdrop!
One such collection is the newly minted NFT by OpenSea Pro. It offered free minting for users who were using the platform GEM before it was rebranded to OpenSea.NFT trading can also be risky, as one trader found out the hard way. They accidentally spent 100 ETH (that's almost $200,000!) on a $60 NFT from an Opensea newly listed collection while using BLUR...After that kind of loss, though a person's mistake, it wouldn't be surprising if they considered switching from Blur to Opensea Pro.
All in all, competition is nice for NFT marketplaces, it motivates them to do better! Let's see what new goodies this will bring for the entire market.
TL;DR: NFT marketplace competition intensifies, as OpenSea announces the launch of a Pro version of the Gem v2 aggregator-based marketplace.
BUGATTI & BITCOIN NFTs
It's been a while since the launch of Bitcoin Ordinals/Digital artefacts or ''NFTs'', but the hype is still real!
Just last night, the number of these NFTs crossed over 900,000, and yesterday's record of daily inscriptions was broken.
The countdown to 1 million has officially begun, and some big names are getting involved - including Bugatti, who is set to launch a collectible collection on Bitcoin!
While we don't know the prices or utility of these 'NFTs' just yet, it's safe to say they won't come cheap.
After all, if we consider the price tag of an actual Bugatti car, it's clear that this will be a high-end addition to the Bitcoin NFT space.
Interestingly, the holder of the very first Bitcoin Inscription has made an offer to Bugatti.
They want to swap their BTC inscription #1 for an actual Bugatti CHIRON worth over $3 million! We're talking about this thing:
Just imagine the hype it would create if Bugatti made that first Inscription the highlight of their upcoming NFT collection or so-called 111-piece ordinal drop.
It would be the move that could shake up the whole NFT world and further cement Bugatti's position as a leader in innovation.
You never know how long Bitcoin will live with their 'NFTs', it would look like a super long-term move for any company.
But there's even more.
As we approach the 1 million inscription milestone, it's becoming 10 times easier to buy and sell Bitcoin inscriptions, and even some crypto brands are suggesting a minimum of $10,000 crypto-payout to anyone who manages to inscribe their logo as the millionth Bitcoin Ordinal.
So, keep an eye out for that magical number of 1,000,000. It looks like it's going to be a big deal in the world of Bitcoin!
But if you're feeling lucky and want to try your hand at snagging the coveted millionth Bitcoin Ordinal, brace yourself - the commissions associated with approaching this number will be sky-high!
That being said, the excitement is already building, and people are strategizing and calculating their odds of being the lucky winner of this once-in-a-lifetime opportunity.
Who will be the lucky one to take home the prize? Stay tuned to find out!
TL;DR: Bugatti announced plans to launch a 111-piece collectible edition on Bitcoin. It generated a lot of buzz.
WEDNESDAY BUBBLES
You can see Dogecoin acting as if it owns the place. Well, it kinda does. At least it owns the place where Twitter's old logo used to be.
Even if Twitter's changes are temporary, the effects on the coin are obvious, as seen in the bubbles chart below.
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