Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » OpenSea Rolls Out New Features for Creator NFT Drops

    OpenSea Rolls Out New Features for Creator NFT Drops

    0
    By Atiq Ur Rehman on February 3, 2023 News, NFT
    Former OpenSea Product Manager Nathaniel Chastain Convicted for Insider Trading
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The largest non-fungible token (NFT) marketplace OpenSea has rolls out a suite of new tools for its OpenSea Drops product and a “3hrs Hold Period” to keep scammers at bay.

    The official Twitter account of OpenSea, on Thursday, February 2nd, announced that the team had released the second phase of features on OpenSea Drops that enables creators to drop their collections on the world’s largest NFT marketplace in a frictionless manner.

    We’re excited to start rolling out the next phase of💧Drops on OpenSea💧a product we’ve been working on for the past few months! https://t.co/rRydH289Vq 🧵 ⬇️

    — OpenSea (@opensea) February 2, 2023

    OpenSea Ramping Up its NFT Empire

    OpenSea is already an NFT beast generating more than $5 billion in total trading volume in January, and continues to introduce innovative tools and features to reach new highs.

    The marketplace introduced its OpenSea Drops feature in June 2020. It was like the first version of its drop feature. The product has been available to some selected partners, as the company said:

    “The first version of Drops offered select partners the ability to launch their collections in partnership with OpenSea — including an immersive drop experience to showcase their project, brand, and art.”

    According to OpenSea, creators earned $1.1 billion from creator fees as of November 2022. To further empower creators, the team is rolling out the next phase of the “Drops” product.

    The former chief financial officer of Lyft and OpenSea stated that it was time for him to come ashore from open seas.

    The NFT giant noted that it had worked with 20 teams for the past few months to make this happen. The new release will provide creators with a best-in-class drops experience that includes features like multi-stage minting phases, allowlist support, and rich storytelling elements.

    The next phase of rollouts will give creators all the self-serve tools, which include deploying smart contracts across all supported EVM chains, configuring drop mechanics, personalizing landing pages using self-serve WYSIWYG editing tools, and more.

    OpenSea will continue to add more features as the new Drop experience gradually opens up to select creators in the coming weeks before eventually opening up to the public.

    OpenSea Introduces 3hrs Hold Period

    In other developments, the marketplace developer has introduced 3hrs hold period to mitigate theft-related risks. Sellers will be prevented from accepting offers on certain items for 3 hours after some transfers and sales.

    Introducing OpenSea’s 3hr Hold Period

    To mitigate theft-related risk, sellers will be prevented from accepting offers on certain items for 3 hours after some transfers and sales. But don’t worry–with @DelegateCash, hot<>cold wallet transfers won't be affected@nanzbonanz📽🧵 pic.twitter.com/zjKYP7oXK4

    — OpenSea (@opensea) February 2, 2023

    The “Delegate Cash” platform will be leveraged to keep the NFT trading experience streamlined. According to OpenSea:

    “Why 3 hours? Speedy transfers and resales through offer acceptances can indicate suspicious activity. This timeframe helps OpenSea, our community, and theft victims detect stolen items while also lessening the chance that buyers end up with an item that’s later reported stolen”.

    Featured NFTs Opensea
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Atiq Ur Rehman
    • X (Twitter)
    • LinkedIn

    Atiq is a Electronics Engineer with a passion for writing about disruptive technologies, including blockchain. With a deep understanding of the technical aspects of emerging technologies and their potential to transform industries, this author brings a unique perspective to the world of cryptocurrency and blockchain.

    Related Posts

    ARK Invest Unloads Coinbase and GBTC Shares by Millions Amid Market Boom

    December 6, 20232 Mins Read

    GBTC Discount Shrinks as Bitcoin Price Surges

    December 6, 20232 Mins Read

    IBM Introduces OSO, Designed for Cold Storage of Digital Assets

    December 6, 20232 Mins Read

    Marathon Digital Produced 1,187 Bitcoins in November and Held 14,025 Unrestricted BTC

    December 5, 20232 Mins Read

    Volume Counterfeiting Allegations Rock RATS Token on Gate Exchange

    December 5, 20232 Mins Read

    A New Era for Cryptocurrency: Zodia Custody’s Integration with Harmonize

    December 4, 20232 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.