Trading News

Read The Latest News & Analysis

Does OpenSea have an App? Yes, but Not for Buying and Selling

OpenSea Mobile App
Share on:

OpenSea now has a mobile application available for Android and iOS operating systems. The app was launched on September 17th.

Last week, Amazon of the decentralized internet, bought a shiny new app to life. The app hit Google Play Store and Apple Store after the company achieved $3.4 billion in trading volume during August.

Also Read: SEC Threatens Coinbase Over Lending Program

The application allows users to browse the NFT marketplace on their mobile devices. They can check out the latest work of their favorite artists, browse the hot items on the ranking page, visit the help center, and read blogs.

OpenSea team considered the launching of the app a big step towards making NFTs available for all.

Making NFTs more available to all is one of our core missions here at OpenSea, and we believe this is a big step in an exciting direction.

Why not buy/sell?

It is interesting to note that the OpenSea app doesn’t allow buying or selling of NFTs. This is because of two reasons.

Firstly, Google and Apple can take 30% of in-app transactions. 30% of $3.4 billion worth of trading will cause a huge price cut.

The second and most important hurdle in facilitating app purchases is the nature of cryptocurrency. To create payment options, OpenSea would have to introduce a USD-based infrastructure. But, the platform is based on the Ethereum blockchain. Making it dollar-friendly will upset the crypto ecosystem trusted by so many.

Recent News

crypto market

Stripe Plans to Re-Enter Crypto Market

After sitting on the sidelines for more than two years, Stripe has decided to re-enter the world of cryptocurrency On Tuesday, the company announced its intention of getting

crypto market

SHIBA INU Coin Rises Despite Being Pointless

SHIBA INU Coin was in the news lately with its 300% rise over the weekend However, the SHIB coin is pointless in terms of utility The cryptocurrency market is notorious for

crypto market

Afghans are Embracing Bitcoin Amid Chaos

Afghans are embracing bitcoin as the country plunges into financial chaos Cryptocurrency remittances are crucial for the livelihood of People residing in Afghanistan The

crypto market

Crypto Transactions Increase 706% in Asia

The southern and central parts of Asia have growing in crypto adoption According to the data from Chainalysis, Crypto transactions surged 706% in Asia from July 2020 to June

Let's Chat
Facebook
Twitter
Instagram
Pinterest
Youtube