Reactions of the Web3 community on OpenSea’s Deals feature

OpenSea recently spilled some beans stating it was soon coming up with an exciting offering. The community automatically speculated that the offering would be an airdrop or a token. Instead, it turned out to be a new feature on the platform. The feature is titled Deal and has accumulated tons of optimism from across the NFT community. This includes those who were least expecting it.

Simply put, Deals is a feature by OpenSea that enables members to exchange non-fungible tokens or a set of NFTs among themselves right on the platform. Meaning they no longer have to move on to a third-party website which can put them at risk of becoming a victim of some kind of fraud. They can trade the NFT or the entire set of it on OpenSea. This paves the way for a reliable and secure manner of executing the desired exchange.

Making it interesting is the fact that users can add wETH on top of their offers. wETH being Wrapped Ether. Not just security and reliability, the feature also facilitates peer-to-peer NFT trading experience directly on OS. Users can display the offer and accept the favorable traders. It further eliminates the need to have a chat in the window, also known as direct messages, since all the relevant details are already demonstrated.

Users who appreciate the move have acknowledged that it was a much-needed move to find a way to circumvent scamsters. Web3 community has hailed Deals highlighting that it brings flexibility and easiness to the table on top of security and reliability. Makes sense, as the need to go to another platform has been removed – allowing users to stay home and indulge in a favorable trade.

Some users have criticized the move saying that it should have been a priority of OpenSea a long time ago. They wanted the NFT trading platform to launch Deals not now but way back in the past now that many have been either duped or faced inconvenience.

Nevertheless, they, too, have acknowledged the benefits and importance of Deals. Members, irrespective of the prior stand, have welcomed the move by OpenSea.

If the sentiments of the NFT community are to be believed, then the timing of the launch will always be debatable. What is the sure shot is the element of trust and security that Deals bring with it. The launch of the feature by OpenSea is estimated to bolster the confidence in the minds of existing users and assure new users that they are safe under the umbrella of a reliable trading experience.

A token was anticipated because, according to a user on social media, OpenSea registered a revenue of $600 million in 2022. They wanted the platform to create a token and give back to the community some reward for sticking around.

Again, a couple of aspects are being debated by the members. The only element to remain certain is security on top of reliability.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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