Another OpenSea alternative to add to Tuesday’s list is on the horizon — Coinbase announced its own NFT marketplace this week. Its reported focus will be on user experience while still supporting public smart contracts and decentralized hosting.
Either way, it may be too little too late, for all of the above — OpenSea boasts a 97% market share and moved well over twice the GMV of Etsy in the past three months. The article to first report those facts is worth a read as a counterpoint to ours. It is in essence a business plan, reverse-engineered, laying out the vulnerabilities, competitors, and history of OpenSea, positioning the dominant company in the space as a scrappy startup to watch. Only on Web 3.0 could both be true.