UN Investigates North Korean Hacker Crypto Attack

Previously reported, Non Fungible Token (NFT) marketplace OpenSea was reportedly considering an acquisition proposal. OpenSea Chief Executive Officer Devin Finzer said his company had not ruled out selling the company, and indicated a willingness to engage with interested parties.

“We think if there is the right partnership, then that is something we should consider,” Finzer told DL News, quoted from Yahoo Finance, Wednesday (31/1/2024).

OpenSea has established itself as a dominant player in the Web3 space, facilitating the trading of NFTs, or unique, non-fungible digital assets. These unique digital assets often represent items such as works of art, collectibles, and virtual real estate.

Although the platform once accounted for the majority of NFT sales in the world, rival marketplaces launched a vampire attack against OpenSea. In decentralized finance (DeFi), a vampire attack refers to a strategy in which one platform lures users and liquidity away from competitors by offering better incentives, lower fees, or better features.

Last year, Blur's NFT marketplace token airdrop scheme helped the platform increase its sales volume and attract customers. In January 2022, NFT marketplace LooksRare launched a similar incentive structure to influence OpenSea customers.

The NFT market has made a comeback. Last December, global NFT sales reached USD 1.77 billion or the equivalent of IDR 27.9 trillion (assuming an exchange rate of IDR 15,791 per US dollar, the highest since recording almost USD 3.4 billion or the equivalent of IDR 53.6 trillion in May 2022, according to data CryptoSlam.

NFT sales are estimated to exceed USD 1 billion or the equivalent of IDR 15.7 trillion for the second month in a row, which is the first time this has happened since last February.