OpenSea, a popular non-fungible token (NFT) marketplace, has officially launched its new OS2 platform, concluding its beta phase. The platform provides extensive capabilities for token trading and supports 14 blockchains.
Launch of OS2 Platform
OpenSea announced the launch of its new OS2 platform, which allows full token trading across 14 blockchains, including the support for fungible tokens on Solana. The new tools aim to enhance cross-chain functionality. According to OpenSea's chief marketing officer Adam Hollander, the platform's goal is to make everything on-chain discoverable for users in one place.
Trends in User Activity
Despite a general market cooldown, OpenSea is seeing positive signs of user retention and growth. Hollander noted that while trading volumes have decreased from their peak in 2021-2022, the number of unique collectors on the platform has increased by 40% since January. He stated, "This tells us that the tourists have left, but true users have stayed and are participating on more chains than ever."
Profitability of NFT Business
Given the current decline in the NFT space, the potential for profitability for teams remains if they have the right strategy. Hollander pointed out that "profitability flows to businesses that keep adding real utility and options for users," highlighting the importance of investing in cross-chain trading.
The launch of the OS2 platform represents a significant step for OpenSea in expanding token trading capabilities, while current trends in the market indicate a sustained interest from true collectors.
