Plain English
OpenSea is the largest NFT marketplace by historical volume, founded in 2017. Multi-chain (Ethereum, Polygon, Klaytn, Arbitrum, Optimism, Base, BNB Chain, Solana). Lost share to Blur in 2022–23 for pro-trader segment but remains the broadest-reach venue. Launched SEA token in 2024.
How it actually works
2.5% marketplace fee on sales. Seaport protocol (the underlying smart-contract engine, open-source) powers fee-optional listings, bulk operations, and gas-efficient trades. OpenSea Pro (acquired Gem) targets the pro-trader segment with multi-marketplace aggregation. Royalties now enforced via on-chain operator filters where supported.
What it means for you
For broad NFT discovery and collecting, OpenSea remains the central hub. For active trading, Blur and Magic Eden have tighter UX and lower fees. For HNW collectors, OpenSea’s reputation, deep collection breadth, and royalty enforcement make it preferred for primary acquisition; rotate to Blur for active rebalancing.
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Educational content only. Not investment, tax, or legal advice.