OpenSea

The OpenSea platform allows users to both purchase NFTs or list digital items for sale. The platform initially encountered speed issues when NFT trading boomed due to the limitations of the Ethereum blockchain technology it was using. However, the company has transitioned to a new blockchain system, Polygon, which has mitigated the problem.

In the wake of the FTX collapse the NFT world has been shaken up, and new competitors have arisen to take advantage of the disruption. One such rival, Blur, has recently overtaken OpenSea's market lead. This has led to OpenSea changing its policies and fee structures to be more favourable to creators in a bid to retake its crown. It remains to be seen whether Blur and other rivals will be able to keep up the pressure, but it's clear that OpenSea will need to innovate if it wants to remain at the head of the market.