What is OpenSea NFT?

Asked 24-May-2022
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OpenSea is a decentralised marketplace for buying and selling NFTs that is changing the game. NFTs stand for Non-Fungible Tokens, which are unique, collectible digital items such as in-game assets, avatars, trading cards, and art.

OpenSea is a non-fungible token (NFT) marketplace based in New York City, United States. Devin Finzer and Alex Atallah launched the company in 2017. Based on the Ethereum ERC-721 standard, the layer-2 scaling solution for Ethereum Polygon, the KIP-7 standard for Klaytn, and the SPL standard for Solana,

OpenSea provides a marketplace where non-fungible tokens can be sold directly at a fixed price or through an auction. Following a surge in interest in non-fungible tokens in 2021, the company's sales increased to $95 million in February and $2.75 billion in September. The company was valued at $13.3 billion in January 2022, making it the largest non-fungible token marketplace. 

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