Devin Finzer, CEO of OpenSea, an nft marketplace once valued at $13 billion, is now betting big on NFTs as the platform explores new use cases.
in a nft-marketplace-opensea-is-touting-differentiation-after-pull-back” target=”_blank” rel=”noreferrer noopener”>interview Speaking to Bloomberg, OpenSea's CEO said the platform wants to create the most attractive use cases for non-fungible tokens (NFTs) as its trading volumes continue to decline. DappRadar nft/marketplaces” target=”_blank” rel=”noreferrer noopener”>data reveals that OpenSea's trading volumes currently stand at approximately $3.5 million, behind competitors such as Blur and OKX nft, which have volumes of $20.8 million and $4.4 million, respectively.
<img decoding="async" width="1024" height="237" src="https://crypto.news/app/uploads/2024/01/shdfiusdh-1024×237.png” alt=”OpenSea CEO bets on nft use cases and says trading volumes can be “engañosos” – 1″/>
Speaking of trading volumes, Finzer said that the New York-based startup tends not to focus “too much on short-term market dynamics,” adding that “trading volumes can be a little misleading at times,” as that OpenSea's competitors encourage activity with their tokens.
Amid the trend of declining trading volume, OpenSea appears to be exploring avenues to reignite interest in the nft market. Finzer revealed that the platform is currently working on a new version called “OpenSea 2.0,” designed to provide a more personalized user experience by customizing the interface for specific use cases (for example, displaying nft tickets on a calendar and sorting them by date). ).
“We really want to have a marketplace interface that can be better customized to fit each type of use case.”
Devin Finzer
Beyond improving the user experience, OpenSea is also focused on strengthening its security infrastructure. Finzer said the platform has improved its system for identifying fake nft collections and harmful URLs, protecting users from potential theft of digital collectibles stored in their non-custodial wallets. However, as of press time, the exact timeline for the public release of the new version of OpenSea has not yet been revealed.
Despite OpenSea's efforts to protect users from scammers, scams persistently adapt within the space, often posing as big brands that entered the industry promising to embrace the web3 trend. As crypto.news previously reported, scammers are now targeting OpenSea users with a new phishing scheme, promising an exclusive event involving American shoe company Nike and RTFKT.
