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Opensea users surge 67% on limited edition drops announcement

Posted by
Ian Kane

NFT drops begin Friday 26th February 2021!

Opensea, the leading digital collectibles marketplace on Ethereum has seen an impressive surge in users amidst the announcement that they will begin exclusive digital collectible drops. 

A drop is simply a limited edition set of artwork or other digital collectibles that will be ‘dropped’ on the public at a given time on a certain day. Once they’re gone, they’re gone. In a similar way to how popular streetwear brand Supreme operates their exclusive clothing drops. 

In a tweet posted on the 24th of February, Opensea announced that drops would start on Friday the 26th of February. Since that tweet surfaced user activity on the platform has exploded. Increasing by 67% a day on the day from the 24th to the 25th February, 38% week-on-week, and up over 331% over the last 30-days. 

Source: DappRadar

The first drop will be the Welcome to Genies’ Origin Series with Shawn Mendes, Number 2 of 6 Curated Genies Collections and the artist had this to say about the new venture. 

“Inspired by my album Wonder, I’m dropping collectible Genie Moments to raise funds with an aim to amplify, uplift, and empower young digital artists who are using their talent to create positive, social change. With proceeds from all collections going to support the Shawn Mendes Foundation Wonder Grants program, and a new pool of grants launching with Genies to support young digital artists, we’re hoping this drop will enable young creators to prosper. In this drop, you can contribute to that cause while unlocking rare Wonder digital wearables for your own Genie’ 

What Is Opensea

Opensea is a marketplace for digital goods, including collectibles, gaming items, digital art, and other digital assets that are backed by the blockchain, in this instance Ethereum. On OpenSea, you can buy, sell, and trade any of these items with anyone in the world.

Opensea has had a relatively subdued start to 2021 whilst the NFT sector has been exploding all around it. As a secondary marketplace, OpenSea is perfectly positioned to capitalize on the hype and just might be the reason for this move to draw more attention to the digital collectibles trading platform by distributing NFT airdrops to the community.  

What is an NFT?

An NFT is a token on the blockchain that proves ownership and confirms the rarity or scarcity of a digital asset. NFT is an abbreviation of Non-Fungible Token, meaning that each of these digital assets is unique in its way. Each of these NFTs has its registration number, similar to the address of a house or a car registration number. Want to learn more about NFTs? Read this.

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