As the first NFT trading platform in the industry, opensea has a maximum turnover of nearly $5billion / month, a monthly handling fee income of more than $120million and a valuation of $13billion. It is a veritable unicorn in the Web3 field. Last year, opensea once accounted for more than 95% of the turnover, but at the beginning of this year, it fell to less than 50%. What happened? We have summarized five categories of "opensea challengers" to show the full picture of NFT trading, a highly competitive and rapidly developing track.

The token encourages the NFT platform and returns the platform profits to the community. Opensea has not issued its own project tokens, which gives other projects the opportunity to seize the market space by using the token mechanism. These projects usually reward the trading users of opensea by airdrop, attract traffic to realize the cold start of the trading platform, support the price comparison with the platform Commission, and motivate the user behavior through tokens. The most typical ones include looksrare, which rewards users with token transactions, and x2y2, which rewards users with pending orders. The transaction volume of looksrare at the beginning of its launch once exceeded that of opensea, and the transaction volume on the day of its launch exceeded US $300million. The network effect brought by token economy is a project competitiveness worthy of attention.

High performance chain NFT platform, professional service provider of "sinking market". The rapid development of layer2 and high-performance chain NFT ecology makes the native service providers in these ecosystems become powerful competitors of opensea. Solananft ecology has risen against the trend. Its volume is already 1/5 of that of Ethereum, ranking second in the NFT ecology of all public chains. Solana attracts many NFT fans with faster and cheaper interaction. Magiceden is to Solana what opensea is to Ethereum, and the turnover accounts for more than 95%. Opensea entered Solana two months ago to support the public chain NFT, but it did not affect the status of magiceden.

Aggregator, occupy the traffic entrance with interactive experience. Users can browse and purchase NFTs from multiple platforms on the NFT aggregator. At the same time, the aggregator also provides multi currency transactions, floor pricing, cross platform price comparison and other functions. Gem, the leader of aggregator, has been online for only half a year, and its number of users has reached one tenth of that of opensea. Strictly speaking, NFT aggregator is not a direct competitor of opensea and other trading platforms. It will not affect the service fee income of the platform, but pose a traffic threat to the product entrance of the platform. The cumulative turnover of GEM has exceeded US $1.2 billion within half a year since its launch.

Vertical NFT platform to provide differentiated products and operational capabilities. Opensea's monopoly position in the NFT trading market largely depends on the current NFT play innovation and user transactions focused on PFP NFT. There are competitors deeply rooted in NFT's sub circuits such as game equipment, music and art works. The evolution of NFT ecology may also affect opensea's hegemony. For example, the encryption art platform artblocks and the game axieinfinity, these vertical markets require the platform to have differentiated products and operational capabilities.

Centralized NFT platform, the advantage of brand trust. The advantages of centralized NFT trading platform in user flow, stickiness and brand trust make it more advantageous in trading and other financial services. Although the market performance has not yet shown sufficient competitiveness, the centralized NFT trading platform still deserves attention.

As the first NFT trading platform in the industry, opensea has a maximum turnover of nearly $5billion / month, a monthly handling fee income of more than $120million and a valuation of $13billion. It is a veritable unicorn in the Web3 field. Last year, opensea once accounted for more than 95% of the turnover, but at the beginning of this year, it fell to less than 50%. What happened? We have summarized five categories of "opensea challengers" to show the full picture of NFT trading, a highly competitive and rapidly developing track.

The token encourages the NFT platform and returns the platform profits to the community. Opensea has not issued its own project tokens, which gives other projects the opportunity to seize the market space by using the token mechanism. These projects usually reward the trading users of opensea by airdrop, attract traffic to realize the cold start of the trading platform, support the price comparison with the platform Commission, and motivate the user behavior through tokens. The most typical ones include looksrare, which rewards users with token transactions, and x2y2, which rewards users with pending orders. The transaction volume of looksrare at the beginning of its launch once exceeded that of opensea, and the transaction volume on the day of its launch exceeded US $300million. The network effect brought by token economy is a project competitiveness worthy of attention.

High performance chain NFT platform, professional service provider of "sinking market". The rapid development of layer2 and high-performance chain NFT ecology makes the native service providers in these ecosystems become powerful competitors of opensea. Solananft ecology has risen against the trend. Its volume is already 1/5 of that of Ethereum, ranking second in the NFT ecology of all public chains. Solana attracts many NFT fans with faster and cheaper interaction. Magiceden is to Solana what opensea is to Ethereum, and the turnover accounts for more than 95%. Opensea entered Solana two months ago to support the public chain NFT, but it did not affect the status of magiceden.

Aggregator, occupy the traffic entrance with interactive experience. Users can browse and purchase NFTs from multiple platforms on the NFT aggregator. At the same time, the aggregator also provides multi currency transactions, floor pricing, cross platform price comparison and other functions. Gem, the leader of aggregator, has been online for only half a year, and its number of users has reached one tenth of that of opensea. Strictly speaking, NFT aggregator is not a direct competitor of opensea and other trading platforms. It will not affect the service fee income of the platform, but pose a traffic threat to the product entrance of the platform. The cumulative turnover of GEM has exceeded US $1.2 billion within half a year since its launch.

Vertical NFT platform to provide differentiated products and operational capabilities. Opensea's monopoly position in the NFT trading market largely depends on the current NFT play innovation and user transactions focused on PFP NFT. There are competitors deeply rooted in NFT's sub circuits such as game equipment, music and art works. The evolution of NFT ecology may also affect opensea's hegemony. For example, the encryption art platform artblocks and the game axieinfinity, these vertical markets require the platform to have differentiated products and operational capabilities.

Centralized NFT platform, the advantage of brand trust. The advantages of centralized NFT trading platform in user flow, stickiness and brand trust make it more advantageous in trading and other financial services. Although the market performance has not yet shown sufficient competitiveness, the centralized NFT trading platform still deserves attention.