OpenSea is one of the largest NFT Marketplace platforms in the world. The recent launch of OpenSea Studio is a new step in democratization efforts that help users simply use OpenSea for all activities from creating to trading NFTs. So is OpenSea a new beginning or a continuation of the mistakes from the previous custom license fee update? Let’s find out with Weakhand in this article.
Before jumping into the article, everyone can refer to some of the following articles to understand better.
- What is OpenSea? OpenSea cryptocurrency overview
- OpenSea launches new roadmap for Redeemable NFTs
- OpenSea regulates license fees & Controversy from the community
What is OpenSea Studio?
Recognizing the problem, creators often have to use multiple platforms for different tasks, and some creators even have to outsource technical support in launching their NFT projects. So OpenSea Studio was launched to make this simpler for everyone.
What is OpenSea Studio?
OpenSea Studio is introduced and launched to the community on October 5, 2023 with many features designed to empower creators such as:
- Simple minting: No more complicated NFT minting techniques, now mint NFTs directly into the user’s wallet with just a few clicks.
- Blockchain Compatibility: OpenSea Studio is very flexible, supporting most OpenSea compatible Blockchains.
- Easy payment: The platform allows buyers to mint your NFT using a credit or debit card. This minimizes the barrier to entry especially for newcomers.
- No coding skills required: OpenSea Studio is designed for everyone, not just the technically savvy.
Some Features Will Be Launched In The Future
In the coming months, OpenSea will continue to add a number of new features to OpenSea Studio including:
- New collection page: OpenSea is where collectors discover and learn about NFT collectibles. In the near future, OpenSea will launch some additional features in information about an NFT collection including: detailed videos/images/text for the collection, development roadmap or featured NFTs. and related collections. This will allow all creators and brands to showcase their work more widely and help collectors learn more about the project.
- Launching the Editions feature: What if the NFT Drops feature was as simple as posting a photo to Instagram? With OpenSea’s upcoming new Editions feature, users can quickly and easily upload NFTs for sale.
Review of OpenSea’s OpenSea Studio Features
The launch of OpenSea Studio is aimed at creators in creating and launching their NFTs. This shows that OpenSea is expanding its scope of influence beyond just NFT trading. The Manifold and ThirdWeb platforms are known to allow creators to release NFT collections in a very simple way on their platforms. With the appearance of OpenSea Studio, the market share of these two platforms will certainly be significantly affected.
Additionally, users also benefit significantly by now simply using OpenSea for all NFT-related activities from creation to trading and purchasing. However, there is one issue that everyone needs to note that in the terms and conditions given they will charge a 10% fee for all NFTs sold on the market applicable to collectibles released on OpenSea Studio.
OpenSea recently changed licensing fees to custom and now NFT sellers are charged a 10% fee on collectibles released on OpenSea Studio. Of course, OpenSea needs a revenue stream to maintain and grow the platform, but bringing creator royalties to zero while trying to profit from creators in this way only makes the community look worse about OpenSea.
summary
Overall, the launch of OpenSea Studio is a good development direction to help creators more easily access digital assets (NFTs), but the fee is too high of 10% and the problem of copyright fees over time Recently, it is facing many mixed opinions from the community. Above is all the information that I want to introduce to everyone in this article, hope everyone has interesting knowledge.
