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OpenSea came into existence in 2017, during the initial rise of NFTs as a groundbreaking concept. It follows a business model akin to platforms like eBay and Etsy and accepts payments in Ether.
Nathanial Chastain has been convicted of money laundering and wire fraud in the first-ever NFT insider trading case.
OpenSea creators can now bake royalties into new collection smart contracts; the status of existing collections, however, is uncertain.
NFT leading marketplace OpenSea is laying off its 20% employees. The CEO of this company shared a note on Twitter i.e.
Shortly after the NFTs were featured on the site, the employee sold them at profits of two to three times his purchase price, according to the DOJ.