OpenSea Recaps New Updates in 'Feature Friday' Post

OpenSea Recaps New Updates in 'Feature Friday' Post

Leading NFT marketplace OpenSea shared a recap of its latest new features added this week, in a tweet this afternoon.

The list of new features includes:

  • Avalance support
  • Collection analytics
  • Bulk actions
  • Open-sourced SeaDrop
  • Klatyn launch on Seaport
  • Adding Chines, Japanese, German and French language support

Avalanche is now the 7th blockchain supported by OpenSea, and they appear to have seen over 13,000 AVAX (the native token, currently $15.76) in volume so far this month.

The collection analytics update was a welcome surprise to those traders who received the beta access, providing sales scatter plots and price distribution graphs alongside the traditional project pages.

Rounding out the updates, bulk actions enable users to buy or list up to thirty items at a time, the SeaDrop update is said to "streamline" the OpenSea partner minting process, the Klaytn launch is tied to a change in support of OpenSea on Polygon, and the additional languages can now be found via the profile drop-down menu in the top right of the web page.

Several of these features seem to align with OpenSea's "unsaid" objectives of keeping up with other leading marketplaces such as MagicEden (specifically the bulk listing and analytics features, which Magic Eden has had in place for months).

OpenSea leads Magic Eden in overall trading volume, with the last thirty days notching $341M in OpenSea NFT volume versus $89.5M in Magic Eden volume. Magic Eden's market share has been on the uptrend, however, reaching ~22 percent in recent weeks, up from just 8.4 percent in mid-July. 

Metrics aside, this new "friendly battle" between OpenSea and Magic Eden is great for users and another example of how competition drives improvement and efficiency in the open market.

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