Within the marketplace, users own all assets rather than the platform itself. OpenSea is built on the Ethereum blockchain. It's reputable, large and has a free mobile app for Android and Apple devices. Overall, OpenSea is a decent marketplace for creators and newbies. A scammer was trying to promote a fake NFT with a link that redirects users to a phishing site, reported by Fortune.

While OpenSea has never experienced a platform hack, in May 2022, OpenSea's Discord was flooded with malicious links. Creators can earn up to 10% in royalties for each secondary sale. You can also list NFTs that you've created or bought from somewhere else, including blockchain games. OpenSea admitted that around 80% of their NFTs are fake, so collectors beware. And in a decentralized market like crypto and NFTs, victims of fraudulent products are usually left out to dry.

However, the marketplace has a major problem with fraudulent NFTs. The platform allows you to buy digital assets among millions of NFTs in multiple categories. OpenSea has a clean and easy-to-use interface, making it simple for NFT beginners to enter the space, mint NFTs and trade. It has over one million registered users and millions of NFTs for sale. Founded in 2017 by programmers Alex Atallah and Devin Finzer, it's one of the first NFT marketplaces in existence, and is currently the largest in the world. OpenSea is known as a premier NFT marketplace in the crypto industry. Once proclaimed as the 'eBay for CryptoKitties,' OpenSea has expanded beyond collectibles to become a marketplace for most types of digital assets such as game items, music, domain names and more. OpenSea is a decentralized marketplace that enables buying, selling and trading NFTs. OpenSea doesn't have any support for noncrypto payments. OpenSea has a maximum of 10% royalty earned from secondary sales. All international money transfer services.

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