OpenSea is a decentralized marketplace that allows the buying and selling of non-fungible tokens. Founded in 2017, the NFT exchange initially began as a market for CryptoKitties but has expanded beyond collectibles. It’s currently a marketplace for a wide variety of digital assets, including art, domain names, game items, music and more.
How Does It Work? A decentralized marketplace, OpenSea uses smart contracts, designed for buying and selling unique digital assets. Smart contracts allow users to protect the custody of their NFT collectibles in the platform, thus offering security for the creator’s work.