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OpenSea made Blur, will it issue money?

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OpenSea may go beyond issuing coins, but users want a real financial return.

Original article by wale.swoosh

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After a long hiatus, OpenSea was back on top of the NFT Twittersphere yesterday. They announced the Gem v2 brand upgrade to OpenSea Pro. (OpenSea acquired NFT aggregator Gem last year for millions of dollars.)

In addition to announcing the new features, one tweet caused a stir. The tweet mentioned "community rewards," which led many users to speculate.

Will OpenSea drop tokens? If so, when? To whom? Generational wealth? Let's take a closer look.

OpenSea has lost market share to Blur in recent months. Blur is now the undisputed number one NFT market.

(Source: Dune Analytics)

While OpenSea is exempt from marketing fees and royalties, Blur still has one key advantage in the eyes of many: Token rewards. Low cost and some features alone are not enough for OpenSea to compete.

So OpenSea may feel the need to issue a Token. Blur has BLUR, OpenSea can have SEA. For example, if the size of the airdrop is tied to the NFT of the wallet all the time and the number of NFT transactions, then that's a big bonus for many of us.

But I want to throw cold water on this. Because nothing in OpenSea's announcement sounds like a BLUR airdrop.

Instead, OpenSea seems to be taking a different path. OpenSea seems to be planning to use NFT as a reward, rather than a token. But does it work?

To me, OpenSea achieves this goal in two ways.

1. Publish OpenSea's own NFT

Yesterday, OpenSea announced the "Gemesis" series of NFT. Anyone who has used a Gem before April 1 is eligible to cast one. OpenSea may do something similar in the future. For example, the more transactions a user makes, the rarer the future NFT will be, with Topwhale users getting a limited edition unique NFT.

But there is a problem with this scheme -- it will not bring liquidity to the market, as BLUR has done, it will take it away. Someone has to buy your NFT for you to actually make money. Especially for rare NFT, this may not be so easy. BLUR has made hundreds of thousands of dollars in real money for top traders.

What do you think the chances are that users will make that much money by selling OpenSea NFT?

2. Send directly to NFT

Some interpreted the announcement differently, suggesting that OpenSea could give away NFT as a reward, such as BAYC, CryptoPunks to top traders, and mid - and low-end NFT series to ordinary traders.

However, the amount of money invested in this activity would be huge, not to mention the impact on the broader market, which could completely destroy the NFT market if OpenSea buys NFT in bulk as a reward for people who don't want NFT but just want money.

Thus, both options are flawed for different reasons, and they don't address the key issues OpenSea faces on the NFT market circuit.

Users want real financial returns, and they want them now.

Finally, back to the original question, "When is the airdrop?" The answer seems more likely to be: Not soon.

Instead, OpenSea may launch an NFT rewards program that will either suck liquidity out of the market or destroy it altogether.