What's in OpenSea 2.0?
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Sponsor: Kraken NFT — Kraken NFT is built for secure NFT trading.
OpenSea has faced big competition from Blur and Magic Eden in recent years, but the veteran heavyweight has the potential to gain back ground with its upcoming revamp.
That's because this week the marketplace announced that it had rebuilt its platform "from the ground up" and would be launching the OS2 experience in December 2024.
Beyond that, no specifics about the makeover have been revealed yet, but there are a handful of things that we can speculate could be coming based on various industry trends.
For today's post, let's explore the most interesting possibilities to watch out for around OpenSea 2.0! 👇
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This fall, Zora introduced onchain secondary markets.
In other words, through the new ERC-20z model, when an NFT drop on Zora reaches 1,111 mints, a 24-hour countdown is triggered.
After that countdown, you can switch from NFT mode to fungible token mode and vice versa, with an associated Uniswap liquidity pool automatically launched to handle secondary sales in perpetuity.
It’s an innovative approach, and it’s given rise to new interest around “artcoins”—i.e. fungible and non-fungible cryptoart hybrids.
This whole mechanism is abstracted away under a simple “Collect” button on the Zora website and mobile app. But what if you wanted to dive deeper and trade these artcoins more traditionally like altcoins?
Here, cue in ArtRun. It’s an alternative Zora client that operates atop the underlying Zora protocol to create a streamlined artcoin trading hub.
For instance, I dropped an NFT on Zora last week that’s now trading as an artcoin, which automatically received a dedicated ArtRun trading page upon launching on Uniswap. These pages make it easy to check your holdings, switch between NFT and token modes, and make trades as you please.
Keep in mind, too, that the ArtRun homepage is also a discovery hub that features prominent and trending projects. It’s worth checking out if you’re just beginning to go deeper into the Zora ecosystem!
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
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