- 4 days ago
OpenSea should watch out for the fleet! Fantom Foundation’s Artion NFT marketplace is Andre Cronje’s way of starting a round of competitive NFT battleships.
Andre Cronje is releaseing a new NFT marketplace, Artion, on Fantom Foundation. Although it is only in its beta stage, the platform may very well become a powerful rival to OpenSea.
OpenSea’s fleet is already under fire, after an insider trading scandal they faced last week. Their product head was using insider information for profit and ended up quitting after the whole mess blew up. Now, however, it seems OpenSea is facing another shot at its fleet. Fantom’s new marketplace, Artion, runs similarly to OpenSea. However, it is open-sourced and offers some unbeatable benefits that may just sink some of OpenSea’s clout.
Artion new Fantom NFT Marketplace
Just like any marketplace, users can mint and trade NFTs on Artion. It has a similar interface to OpenSea, although Artion team designed the marketplace with creators in mind. Here, the focus is not on coding, but rather on keeping things simple. All this so creators can mint and sell NFTs with ease and efficiency. Additionally, creators can do all of this at a much lower cost.
Artion does not charge any commission and minting gas fees are as little as 1 FTM which is slightly over $1. OpenSea, on the other hand, takes 2.5% off of all purchases. Gas fees on Artion were initially meant to be 10 FTM or around $10. Yet, even this is likely to be less than the fees one would pay if they were minting an NFT on Ethereum.
Besides being cheaper, the Artion NFT marketplace is also said to be faster, as it is on the Fantom blockchain. On this platform NFT transactions are almost instant and should be around one to two seconds long.
The marketplace plans to host the same token standard as OpenSea and, in fact, also hopes to bridge to other blockchains. Cronje wants to start off bridging to Ethereum, but told CoinDesk that he believes they can bridge to a new blockchain each week.
Where the platform does fall short, however, is in its variety. OpenSea houses all the most sought over NFT collections and it may take a while for Artion’s marketplace to house such NFTs. Nonetheless, Cronje did not make the platform to compete with OpenSea. Or at least, Cronje says not directly.
Cronje’s battleship fleet
One of the biggest factors that divides Artion from OpenSea is the fact that it is an open-source platform. This means that anyone can view their code and replicate it to create their own platforms. While, it might be questionable why someone would want to allow people to use their work, this is exactly what Andre Cronje, the Rarity game creator and Artion founder wants.
Firstly, he wants his platform to be fully decentralized and that means everyone should have access to it, even its coding. He also, additionally, tweeted that this whole new Artion NFT marketplace was more about a message than making profit.
He admitted that he wants to encourage others to make platforms using their coding. By doing so, he is disadvantaging his own platform. Although, all these platforms together could cause an unbeatable fleet against OpenSea.
As Cronje said he “likes starting fires.” Well, it seems this may be a battleship fire that Opensea might not handle.