Category: Opensea

Ethereum After 1559: Network Participants Burn Over 300,000 Ether Worth More Than $1 Billion

Ethereum After 1559: Network Participants Burn Over 300,000 Ether Worth More Than $1 Billion

On August 5, 2021, the Ethereum network and its participants successfully completed the highly anticipated London upgrade, which saw the implementation of the Ethereum Improvement Proposal (EIP)-1559. Since then, 303,681 ether worth more than a billion U.S. dollars have been burned. More Than 300K Ether Burned Following EIP-1559 More than a billion dollars worth of […]

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Former OpenSea exec’s NFT trading did not break the law, but it could provoke regulators

Former OpenSea exec’s NFT trading did not break the law, but it could provoke regulators

Quick Take OpenSea says it is implementing new procedures after a now-former executive was caught trading NFTs with inside knowledge.  While legal sources say the actions didn’t break the law, it could draw the ire of regulators who are already applying heavy scrutiny to the industry.  On Thursday, OpenSea said that Nate Chastain, former head […]

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Despite Insider Trading, OpenSea Transaction Volumes for Blue-Chip NFTs On the Rise

One of the largest NFT trading marketplaces OpenSea recently admitted insider trading by its executives. The OpenSea executives were using proprietary information to benefit from the NFT sales. These employees reportedly purchased items before being publicly displayed. The head of Product Nate Chastain, supposedly behind it, has been removed from his position. In its official […]

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Opensea NFT Marketplace Claims Employee Profited From Insider Information

Opensea NFT Marketplace Claims Employee Profited From Insider Information

On September 15, the top non-fungible token (NFT) marketplace, Opensea, revealed that an Opensea executive profited from insider trading. “Yesterday we learned that one of our employees purchased items that they knew were set to display on our front page before they appeared there publicly,” Opensea informed the public on Wednesday. Opensea did not name […]

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OpenSea confirms executive used insider knowledge when buying NFTs

OpenSea confirms executive used insider knowledge when buying NFTs

One of the non-fungible token (NFT) space’s biggest marketplaces has admitted that a senior employee has been getting the drop on its most popular drops. Twitter users last night accused Nate Chastain, head of product at OpenSea, of using secret Ethereum wallets to snap up the platform’s front-page NFT drops before general release. Citing transactional […]

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NFT Market Sales Drop by More Than 50% — Popular NFT Collection Trade Volumes Nosedive

NFT Market Sales Drop by More Than 50% — Popular NFT Collection Trade Volumes Nosedive

After non-fungible token (NFT) sales soared during the month of August, the first week of September’s NFT sales has been awful. Statistics show the number of sales in mid-August tapped a high of 193,693 sales but plummeted 86% to 27,053 sales on September 10. Metrics from the most used marketplaces show that volume has slid […]

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Fidenza artist Tyler Hobbs: NFTs are ‘going to play a huge role in the art world’

Fidenza artist Tyler Hobbs: NFTs are ‘going to play a huge role in the art world’

Generative artist Tyler Hobbs, like many of his peers, is still trying to adjust to his newfound fame. “This has already been a really big reality shift for me so I’m trying to give myself a little bit of time to adjust to it,” said Hobbs.   His signature project, Fidenza, debuted on the non-fungible […]

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OpenSea’s Transaction Volumes on Sharp Decline, Is NFT Popularity on A Decline?

OpenSea, the Ethereum-based largest NFT marketplace is seeing a sharp decline in the daily transaction volumes on the platform. On Wednesday, September 8, the daily transaction volume on OpenSea was less than $100 million for the first time since August 21. Also, comparing it to the peak of August 29, the daily transaction volumes have […]

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