Here is a brief video created by Opensea to illustrate the user experience:
You can use the app for the following functions:
Connect their OpenSea profile
Discover new works
Save works to favorites
Filter NFT searches based on different criteria
View the stats of NFT collections
Get links to exclusive releases
OpenSea is the leading NFT marketplace, with $3.08 billion in trading volume for the month of August 2021. This represented an 800% rise from the previous month, as it cemented its place as the premier NFTs marketplace.
In what was a bumper month, by the middle of the month, trading volumes on the platform had blown up by more than 12, 000% compared to the beginning of the year.
The platform’s recent shine has however been tainted by the exit of its Head of Product, Nate Chastain, following allegations of insider trading on the marketplace. Also, despite the huge growth in August 2021, in the first week of September 2021 the sales volume on OpenSea dropped by almost 50% to $792 million from a pool of 156,811 traders.
It is hoped that adding buying and selling will be some of the improvements as the app is only set up for browsing currently. However, some of the reasons for why OpenSea does not allow buying and selling of NFTs on the app include a 30% cut on transactions that it would be required to share with app store owners such as Apple and Google.
Another reason stems from the usage of Ethereum for payments but this is not supported in AppStores.