OpenSea’s Chief Commercial Officer predicts launch of projects with practicality by 2023

It is reported that Shiva Rajaraman, OpeanSea’s chief commercial officer, said that 2023 is the year when OpenSea will launch projects or show some projects that have actual benefits or practicality, and its platform will make greater bets on key Web 2.0 and Web3 creators or brands. Shiva Rajaraman believes that one of the biggest pain points in the current NFT field is the need for tools for non encrypted native brands, and OpenSea will be committed to becoming a platform that reduces friction and makes NFT “easier”. （TechCrunch）

OpeanSea chief commercial officer: The next step is to help the Web 2.0 brand enter Web3

If you’re familiar with NFTs, you’d know that OpenSea is one of the most popular and widely used platforms for trading these digital assets. The marketplace has been growing rapidly since its inception, and it doesn’t seem like it’s going to stop anytime soon. In a recent statement, OpenSea’s Chief Commercial Officer, Shiva Rajaraman, mentioned that the platform is going to take a big leap in the coming years.

The Future of OpenSea

According to Rajaraman, OpenSea is planning to launch projects that have actual benefits or practicality by the year 2023. This is a significant step for the platform, which has been known to cater to a vast number of digital art collectors and enthusiasts. While NFTs have been gaining traction in the art world, there has been criticism about the value of these assets and whether they hold any practical use.
Rajaraman’s statement suggests that OpenSea is taking a step towards addressing this issue by launching projects that have more practicality. This not only means that NFTs will have more value, but it will also encourage creators to make tokens that have a higher purpose.

Focus on Key Creators and Brands

Rajaraman also mentioned that OpenSea will make greater bets on key Web 2.0 and Web3 creators or brands. While the statement is slightly vague, it suggests that the platform will be focusing more on creators that have a significant impact on the NFT world. This could mean bringing onboard popular creators and influencers or pushing for collaborations that bring more value to the marketplace.

Removing Friction

Shiva Rajaraman believes that one of the biggest pain points in the current NFT field is the need for tools for non-encrypted native brands. OpenSea is going to work towards becoming a platform that reduces friction and makes NFTs easier to understand and trade. This is a crucial step to take as the platform expands, and more people begin to trade on the marketplace.

Conclusion

It’s interesting to see what the future holds for OpenSea. The platform has grown tremendously over the past few years and has become one of the go-to NFT marketplaces in the digital art world. With the announcement that the platform is going to take a step towards creating more practical projects and reducing friction, OpenSea is on track to become even more successful.

FAQs

Q1. What are NFTs?

NFTs are non-fungible tokens, which means that they are not interchangeable with another asset of the same value. These digital assets can represent anything, from digital art to music and even tweets.

Q2. Why are NFTs valuable?

NFTs are valuable because they are one-of-a-kind digital assets. They hold value because of their uniqueness and scarcity.

Q3. How do I trade NFTs on OpenSea?

To trade NFTs on OpenSea, you need to create an account on the platform. Once you have an account, you can browse through the marketplace and look for NFTs that interest you. If you find something you like, you can bid on it or buy it outright with cryptocurrency.