- GameStop allows more flexibility in buyer-seller dealings.
- OpenSea is a Non-custodial.
What is OpenSea?
Like GameStop, OpenSea is an NFT marketplace where users can buy, sell, trade, and even create NFTs. With a daily trading volume of around 6 million US Dollars and more than 2.4 million users, Opensea can be considered the largest marketplace for NFTs.
Before 2017, when OpenSea was yet to be created, no such company provided a platform for NFT trading. To overcome this, OpenSea was developed as the first-ever platform specially designed for NFT trading.
OpenSea accommodates a wide spectrum of categorical NFTs with more than 2 million NFT collections including artworks, collectibles, sports assets, music, virtual lands, etc., and it also provides an option of creating your own. OpenSea allows users to create their own wallets on the platform and connect their pre-existing wallets.
OpenSea enables users to explore the blockchain of their choice. Users can also modify their search and find results of their choice, users can search for top trending NFTs for various time periods such as 24 hours, one week, one month, or even all-time.
Using OpenSea is a very seamless process, its user-friendly interface makes it easy to navigate through the app. The first step is to connect a wallet to OpenSea because without that the user won’t be able to move forward with the transactions because that’s where all the payments and deposit activities will happen. OpenSea, being a non-custodial, doesn’t store the user’s NFT with itself instead it directly transfers the NFT to the user’s wallet after they have bought it.
OpenSea supports a healthy number of wallets on its platform, some of which are, MetaMask, Coinbase Wallet, Trust Wallet, Portis, Dapper, Venly Bitski, etc.
What is GameStop NFT Marketplace?
GameStop is a web2 gaming organization. It launched its Non-fungible Token (NFT) marketplace in July 2022.
Despite being a web2 organization, GameStop has gained users from both, web2 as well as web3 space. This has given it a hold in the market. This was made possible only because of their effective distributive strategies.
GameStop NFT Marketplace is a place where users can flaunt their unique NFTs. Buying NFTs on GameStop is simple, the user just has to choose an NFT and simple make the offer to the seller.
GameStop primarily focuses on providing a seamless experience to both the buyer and the seller. To achieve this it allows direct communication between the buyer and the seller without involving any third party. Here, the user can directly deal with creators, resellers, and brands.
The creators and the resellers get royalties whenever their product is sold or traded in the market. These royalties are in the form of ETH, whenever an NFT is sold, the creator or the reseller gets ETH as a reward along with some extra monetary support from the buyer.
Which is better?
In the space of Non-fungible Tokens, GameStop and OpenSea have made a name for themselves. OpenSea serves the already existing projects on Ethereum, providing various trading options for users to purchase and trade from. On the other hand, GameStop offers a platform that can accommodate its ever-augmenting NFT marketplace.
Lastly, the question arises that which platform is better. Well, the answer to this depends on which platform is able to fulfill the needs of the individual as per various factors like taste and preference of the customer, their personal goals, etc.
