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.
What a unique cutting edge idea no one else had first.
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.
