The report also pointed out that OpenSea is facing competition when it comes to Solana-based NFTs: its native marketplace Magic Eden is a “close second” to the OpenSea exchange.
Magic Eden NFT marketplace recently introduced optional royalties on the platform, following a similar move by the Ethereum-based marketplace X2Y2 in August. And it seems like a really great feature as the market has been shifting this way for a while now.
Although OpenSea has been establishing partnerships with large companies outside of crypto, like Warner Music, figures speak for themselves. We continue to observe.
This is an update to this article.