OpenSea Unleashes a P2P NFT Swaps Service “Deals”!

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NFT Daily Dose

4 min readJul 22, 2023

Hey there, fellow NFT enthusiasts! Get ready for some exciting news in the world of Non-fungible tokens. OpenSea, the popular NFT marketplace, has just dropped a game-changer — “Deals,” a fantastic peer-to-peer NFT swap function that’s all set to level up your collecting game and make your trading experience even more enjoyable!

What’s the Buzz about “Deals”?

You heard it right! OpenSea is making it easier than ever for collectors to directly trade NFTs with each other. No more middlemen or third-party platforms getting in the way of your deals. Just pure, unadulterated swapping fun!

Sweetening the Pot with WETH

But wait, there’s more! OpenSea is adding a dash of sweetness to the mix with WETH (wrapped ether). Now, you can amp up your trades by including WETH to make your deals even juicier. It’s like adding a cherry on top of an already scrumptious NFT cake!

The Magic Behind Deals

So, how does this magic happen? OpenSea has waved its wand and created a simple and secure process for you to swap NFTs with ease. You just need the username, ENS name, or wallet address of the person you want to trade with. Then, select up to 30 NFTs and decide how much WETH you want to throw into the mix (if any).

Making the Offer

Once you’ve gathered your NFTs and added that magical WETH, it’s time to make the offer. Send your deal to the other party and let the trading games begin! But remember, for now, both sides of the deal should be on the same chain and from those verified collections with their shiny badges.

No Fee Zone

The best part? OpenSea’s got your back, and they won’t charge you a penny for these fantastic Deals! So, you can swap your precious NFTs without worrying about extra fees or annoying creator royalties.

Why Deals Are a Big Deal?

We know you must be wondering why this is such a big deal. Well, let us tell you — Deals are here to make your NFT swapping experience safer and more trustworthy. Say goodbye to sketchy direct messages and questionable websites that have plagued collectors for far too long. With OpenSea’s Deals, you can trade with confidence, knowing that your NFTs are in good hands.

Spicing up the NFT Communities

OpenSea’s master plan is to get more and more users involved in the NFT communities. And how do they plan to do that? By making the swapping process a walk in the park. Thanks to their nifty feature, Seaport, collectors can now easily trade NFTs within the OpenSea platform, without any unnecessary risks that might lurk outside.

The Showdown: OpenSea vs. Blur

Oh, it’s getting hot in the NFT market! OpenSea is in an intense face-off with Blur, the leading zero-fee marketplace. Blur has been giving OpenSea a run for its money since its grand entrance in October. But guess what? OpenSea isn’t backing down. They’re always upping their game to stay ahead.

The Blend Factor

We must give credit where it’s due — Blur shook things up big time when they unveiled Blend, their native lending platform. In just three weeks, Blend gobbled up a whopping 82% of the overall NFT trading volume. Talk about making a bold statement!

Thinking about starting your own NFT marketplace like OpenSea?

It’s a brilliant idea! The NFT space is buzzing with excitement and opportunities, and there’s plenty of room for innovative platforms to thrive.

To embark on this thrilling journey, you’ll need a solid plan and a clear vision. Start by identifying your unique selling points — what will set your NFT marketplace apart from the rest? Is it a user-friendly interface, lower fees, or perhaps a focus on specific types of NFTs?

Next, gather a talented team that shares your passion for NFTs and can bring your vision to life. From developers to designers, having the right people on board will be crucial to your success.

One of the key aspects of creating a successful NFT marketplace is security and trust. With so much value at stake, collectors need to feel confident that their transactions are safe and reliable. Implement robust security measures and build trust within the community.

Navigating the legal and regulatory landscape is essential as well. Stay informed about the latest developments and ensure compliance with relevant laws to avoid any hurdles down the road.

Finally, engage with the NFT community and gather feedback. Listen to what collectors and creators want in a marketplace, and continuously improve your platform based on their needs.

Remember, starting a venture like this requires determination, patience, and a passion for NFTs. But with the right approach and dedication, you could create a platform that captures the hearts of NFT enthusiasts worldwide!

Conclusion

Alright, folks, there you have it — OpenSea’s brand-new “Deals” feature is set to revolutionize the NFT trading landscape. So, buckle up, get those NFTs ready, and let’s make some epic deals! Happy trading, everyone!