Compiled written by Karen, Foresight News
Last week, I published an article titled OpenSea 2.0 Hypothesis: Points? Airdrops? NFT Launchpad? , and just last weekend, NFT trader john.weth, as an early tester of OpenSea 2.0, revealed many details of this version to us. So, what are the highlights of OpenSea 2.0?
What’s new in OpenSea 2.0?
1. Brand-new user interface: It includes a list of NFT series ranked by the previous day’s trading volume, floor price increase, and popular trend series, allowing users to see at a glance.
2. Optimized Profile page: This page more intuitively displays the users holdings, asset value, and transaction activities, providing a more convenient asset management experience.
3. From the Leaderboard page, we can see that OpenSea will distribute XP retroactive rewards to users and will also hold the first season of XP activities. Ways to earn XP include listing NFTs and bidding (offer) for top NFT series. The total XP reward is also related to loyalty and BOOST. Among them, only listing NFTs on OpenSea can maximize user loyalty, and the BOOST multiplier is related to ranking.
In addition, the Top Bidders points will also be significantly increased. The specific rules are as follows:
Top 100-51: Points increased by 1.2 times
Top 50-26: 1.5 times
Top 25-11: 2 times
Top 10: 2.5 times
4. The OpenSea page clearly states that XP is far more than a number, and its true value will become more prominent as users collect more and more. At the same time, OpenSea has the right to deduct and reset the XP rewards of users who harm the interests of other users or provide fake liquidity to ensure the fairness and healthy development of the platform.
OpenSea faces challenges in multiple dimensions
Regarding the hot debate about whether OpenSea is copying Blur, OpenSea co-founder and CEO Devin Finzer clearly expressed a negative attitude. He emphasized that the goal of OpenSea 2.0 is to become the home of NFT for everyone, whether collectors, professional traders, or users in between. In addition, OpenSea 2.0 will continue to launch more innovative features to meet the growing needs of users.
In the past year and a half, the NFT market has been shrouded in a downturn, which has brought heavy pressure to every participant in the industry. OpenSea has suffered a strong impact from the latecomer Blur, and its market share has shrunk significantly. Last week, NFT transaction volume accounted for 26.4%, while Blur accounted for 53.6%. In sharp contrast, OpenSea once monopolized 98% of the market share in its heyday.
Today, whether OpenSea can successfully reverse the situation, regain market leadership, and once again set off a craze in the NFT field with the newly launched OpenSea 2.0 platform and point reward strategy is undoubtedly a difficult and challenging task.
The challenges faced by OpenSea are multi-dimensional. On the one hand, it needs to compete with Blur for market share and user resources. On the other hand, OpenSea needs to find an effective way to reignite consumers interest in NFTs. In the current sluggish NFT market, users enthusiasm for NFTs has obviously cooled down. How to stimulate the NFT craze again is not only a problem that OpenSea needs to think deeply about, but also a severe test faced by the entire NFT industry.
