OpenSea, the venerated NFT marketplace, has shaken things up by introducing their latest invention – the flamboyantly named “Deals.” This audacious feature has pledged to liberate traders from the clutches of dubious third-party platforms and usher in an era of direct peer-to-peer NFT swaps, sprinkled with a hint of transactional freedom and a dash of charm.

Transactional Freedom: The Essence of “Deals”

Picture this: collectors joyfully engaging in NFT swaps with their peers, free from the shackles of intermediaries and sketchy DMs. OpenSea’s “Deals” makes this tantalizing dream a reality. By enabling users to trade NFTs directly with fellow collectors, this ingenious approach adds a sprinkle of trust and confidence to the NFT trading landscape. No more worrying about being bamboozled by questionable characters lurking in the corners of the internet!

Read more: How to Monetize Your Digital Art with NFTs. Guide

Crafting Enchanting Offers with “Deals”

Creating artful deals is an art in itself, and OpenSea has certainly embraced it. With “Deals,” traders can step into the role of maestros, weaving personalized offers that entice even the most discerning of collectors. The process is simple: choose your preferred trading partner, pick up to 30 delightful NFTs for the trade, and for an extra flourish, add some wrapped ether (WETH) to sweeten the deal. Voilà! An offer that’s hard to resist.


The Majestic Gatekeeper: Verifying Collections and Chains

As they say, “Thou shall not pass!” OpenSea, the keeper of integrity, ensures a seamless and trustworthy trading experience by mandating that both parties involve NFTs from the same chain and verified collections. No sketchy knockoffs allowed in this prestigious marketplace! The stage is set for genuine collectors to shine, knowing they can transact with confidence.

Read more: What are dynamic NFTs? Use cases and examples

Decisions, Decisions: Embracing Freedom of Choice

Ah, the sweet taste of liberty! When a “Deal” proposal flutters into your digital domain, you are the master of your fate. Embrace it or send it off into the digital abyss – the choice is yours! And should you accept the alluring “Deal,” you’ll be in charge of the transfer’s gas fees. But fret not, for “Deals” swaps carry no burdensome OpenSea fees or creator royalties. It’s a glorious era of no hidden fees!

Dune data exposes the dramatic decline in OpenSea’s average monthly trading volumes. As of June 22, the figures languished at a mere $161 million, a sharp plummet from the staggering heights of over $4.8 billion recorded back in January 2022. The NFT market’s rollercoaster ride continues, leaving traders and collectors in awe of its wild fluctuations.

OpenSea vs. Blur: The Fierce Showdown

The NFT arena is akin to an exhilarating joust, with competitors vying for supremacy. OpenSea, the once-reigning champion, faces a worthy adversary in Blur, the zero-fee marketplace that has been steadily gaining ground. But fear not, loyal collectors! With “Deals” in its arsenal, OpenSea is ready to reclaim its throne and dazzle the world once more.


Seaport: The Mighty Engine Behind the Scenes

At the heart of this captivating spectacle lies Seaport, OpenSea’s powerful NFT protocol. Unveiled to the world in June 2022, this advanced NFT trading platform serves as the unseen force driving the seamless execution of these delightful NFT swaps. Behind every great “Deal,” there’s an even greater Seaport, propelling the NFT revolution forward!

OpenSea’s “Deals” has set the stage for a thrilling NFT trading extravaganza. The future looks brighter and wittier, where collectors reign supreme, and NFTs find their perfect match. Step right up, ladies and gentlemen, and embrace the newfound freedom of peer-to-peer NFT swaps! The stage is yours, the world awaits, and the Deals are aplenty. Happy trading!

DisclaimerAll materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.