OpenSea revises NFT rarity ranking protocol after community feedback
A community member argued that the new rarity ranking protocol destroys the market-driven rarity structure for some NFT collections. While giving rarity ranks to nonfungible tokens (NFTs) on a marketplace may help collectors decide on whether to purchase NFTs or not, some argue that ranking NFTs may do more harm than good. In a tweet, an NFT investor pointed out several issues surrounding OpenRarity, the new rarity ranking protocol implemented by NFT marketplace OpenSea. According to the community member, putting “rank” in the NFT listing with no mention of “rarity” anywhere could be....
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The OpenRarity project was a collaborative project between various NFT community entities, including Curio, icy.tools, OpenSea and Proof. With thousands of nonfungible tokens (NFTs) getting minted every single day, trying to find rare pieces can be a challenge for NFT collectors. However, as the industry continues to progress, the hassles in finding rare NFTs may soon become a thing of the past. In a tweet, NFT marketplace OpenSea has announced the implementation of OpenRarity, a protocol that provides verifiable rarity calculations for NFTs, within its platform. The protocol uses a....
On Tuesday, the leading non-fungible token (NFT) marketplace in terms of all-time sales, Opensea, announced it is migrating to Seaport, an open source Web3 marketplace protocol. Opensea says the Seaport protocol migration from the Wyvern protocol will cut network fees by 35%, and users will no longer have to pay an account initialization fee. Opensea Migrates From Wyvern to Seaport: ‘A Foundation to Empower the Developer Community’ Opensea is moving to the Seaport protocol in order to enhance the NFT marketplace experience for users. The Opensea development team details that....
The NFT marketplace no longer intends to offer customer support over Discord DMs. On Tuesday, nonfungible token, or NFT, platform OpenSea launched a server on Metalink to give the verified owners of its collections a direct channel for support, feedback and updates. In addition, OpenSea said it would no longer offer customer support over Discord DMs. Metalink is a collaboration app for NFT communities that offers users a place to view their collection's value and monitor its associated real-time transaction feed. In addition, channels hosted on Metalink are token-gated, meaning that proof....
Apple published rules for NFT for the first time which included a 30% NFT “tax” and geo-limit exchanges. In this week’s newsletter, read about how Apple released its first-ever set of rules for nonfungible tokens (NFTs), including a 30% “tax” and limits on how NFTs can be bought and exchanged. Check out how NFTs have the potential to change museum experiences in the future and how OpenSea revised its NFT rarity ranking protocol after feedback from the community. In other news, find out how NFTs are used to democratize scheduled TV programming in the era of Web3. Last but not least, NFT....
OpenSea's NFT empire just got bigger with its latest acquisition, while virtual influencer Rae creates an NFT collection to advance girls' education, and online chess players can now turn memorable matches into NFTs with chess.com. OpenSea buys NFT market aggregator Gem In a Monday Twitter post, OpenSea announced it had acquired NFT marketplace aggregator Gem for an undisclosed price. A blog post by OpenSea chief executive officer Devin Finzer stated that the company made this move to improve the experience of its more seasoned, “pro” users. Gem lets traders buy NFTs across various....