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OpenSea, one of the largest multi-chain non-fungible token market platforms, has launched the beta version of its upcoming upgraded non-fungible token marketplace. At this stage, only Gemesis non-fungible token holders are permitted to access this platform. The NFT marketplace OpenSea hinted at launching a new marketplace in November 2024. In this article, we shall discuss in depth some of the unique features of the upcoming NFT platform.
THE FARM IS OPEN pic.twitter.com/t4u6OAZGNb
— beeple (@beeple) January 28, 2025
OpenSea Launches OS2 Beta NFT Platform
In a January 27 blog post, OpenSea NFT marketplace confirmed that it has launched the beta version of its upgraded NFT marketplace. During this beta launch, only Gemesis non-fungible token holders are permitted to assess this new platform. Launched in April 2023, Gemesis is a non-fungible token collection created by OpenSea, featuring a limited edition of 94,757 NFTs hosted on the Ethereum blockchain network.
Snapshot complete.
Block: 21712313
Eligible wallets: 49,785If you were holding a Gemesis NFT on 1/26/25 at 7:38pm ET, you now have access to the OS2 private beta.
Head to: https://t.co/Fw7YfEee0B pic.twitter.com/p7mC3Q9Eb0
— OpenSea (@opensea) January 27, 2025
Devin Finzer, the chief executive officer of OpenSea, announced in November that his team was launching a new market platform for non-fungible token collections before the end of this year. Unfortunately, Finzer and his team failed to meet the deadline, probably due to technical hitches and an unclear regulatory framework. It’s worth noting that sometime last year, the OpenSea NFT marketplace received a notice from the United States Securities and Exchange Commission claiming that all NFTs on its platform were illegal securities.
A new OpenSea is coming. December 2024.https://t.co/boxnb1CiYi pic.twitter.com/hIQ1dSpA41
— OpenSea (@opensea) November 4, 2024
Since the crypto-friendly Donald Trump has taken office as the President of the United States of America, many crypto and non-fungible token projects within the region, initially delayed due to lack of proper regulatory framework, have started progressing. The OpenSea NFT marketplace is a perfect example, and it has resumed creating an upgraded NFT market platform. What does the new upgraded NFT platform bring to the NFT market?
The beta version of OpenSea 2.0’s NFT marketplace introduces a unique opportunity to explore new features and provide feedback to improve the platform. This upgraded feature is the new version of its marketplace for buying and selling NFTs. The upcoming OS2 NFT platform also promises to enhance the trading experience with improved tools designed to make buying and selling NFTs more seamless and efficient.
The upcoming upgraded OpenSea NFT marketplace will also integrate the XP system, which rewards users for their activities on the platform. NFT users can earn reward points by listing NFTs, making offers, or interacting with popular collections. This gamified approach has sparked excitement in a few quarters of the community, with the majority speculating that XP points could unlock future perks or incentives.
Nonetheless, the OpenSea team has encouraged testers to actively participate through Discord and share feedback. This step will ensure the final NFT marketplace aligns with user expectations. In the meantime, OpenSea has conducted a snapshot of eligible Gemesis NFT holders. It carried it out on Block 21712313 with eligible wallets totaling 49,785. Unfortunately, the NFT marketplace has not received warm appreciation from the community.
OpenSea Faces A Community Backlash
The OS2 beta launch has caused a mixed reaction between crypto and the non-fungible token communities. Even though some are excited about the fresh features and upgrades in OS2, others are left questioning the fairness of this rollout strategy. On the one hand, the Gemesis NFT holders are excited to be part of the beta testing. These early adopters of the new NFT marketplace will get an exclusive chance to shape its future simply by sharing their feedback.
On the other hand, a group of traders has felt frustrated because they felt excluded just for not owning a Gemesis NFT. One user has pointed out that they had spent millions on the NFT platform but were still not allowed to enter the beta. The consensus is that OpenSea could have been clearer about how to get in. The upcoming OpenSea OS2 is part of a larger trend that will determine the future of the NFT market.
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