OpenSea introduces Deals, monthly trading volumes slump 96% from January 2022
Reports on July 21 reveal that OpenSea, a non-fungible token (NFT) marketplace, has introduced a new feature called Deals, allowing users to trade NFTs for other NFTs or Ethereum (ETH). Powered by Seaport, an NFT protocol, OpenSea said Deals offer users a more flexible and secure way to trade NFTs directly on the platform. Introducing Deals: offer your NFTs for theirs, securely on OpenSea. https://t.co/bTciJLUWDK pic.twitter.com/KR2MLbi7jh — OpenSea (@opensea) July 20, 2023 The introduction of Deals comes as NFT trading volumes have seen a significant decline in recent months. Factors such as the overall bearish trend in the cryptocurrency market and increased competition from other NFT marketplaces have decreased NFT trading activity. You might also like: OpenSea implements zero fees as it takes on Blur As of June 22, Dune data shows that OpenSea’s average monthly trading volumes stood at roughly $161 million, a deep slump from the over $4.8...