OpenSea the Peer to Peer Marketplace for Crypto Collectables

The demand for crypto collectibles has increased more than ever with people looking to buy digital assets that they can flip on different marketplaces. There are many marketplaces made for Crypto Collectables, but not all of them are created equally.

OpenSea is a great peer to peer marketplace for crypto collectibles with a ton of amazing features. There are many great sellers with beautiful and rare digital asset collections. Before we learn more about OpenSea, let’s have an introduction into what crypto-collectibles are.

What are Crypto Collectibles?

Crypto Collectibles are non-fungible and special digital assets. They have become highly collectible and sought after just like real-life collectible items such as stamps, cards, and comic books. Non-fungible items are a new class of unique digital collectibles that are coveted for their rarity and can be bought, sold, or traded on marketplaces such as Open sea.

In real life, we have collectible items like stamps, coins, cards, balls, and much more. Now, everything is digital, and people love to play online games. Online games feature many valuable assets that can be bought or resold. Many popular games such as Overwatch, Fortnite, and World of Warcraft are full of such digital assets. They have premium tradable skins, moves, guns, and many other things that can be sold as a digital asset.

What is ERC-721?

ERC-721 is a contract on which all these crypto-collectibles are based. It is different from ERC-20 that most of the people already know. In the ERC-20 contract, every type of collectible, such as money, is the same. For example, a hundred-dollar bill is considered the same as any other hundred-dollar bill, and they both hold equal value, but the ERC-721 contract is something different. Here every item has its own unique identity, and these items are called crypto collectibles. They can be from any game, or they can crypto kitties that proved very popular collectibles back in 2017. Read the full story...