Quick Take
- OpenSea is launching a “no-code” studio that allows creators to develop and mint a collection without the need for third-party assistance.
- The studio replaces “lazy minting,” according to OpenSea.
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Looking to regain some of the luster that once made it the world’s top NFT marketplace, OpenSea is launching a new “no-code hub” that allows artists to create and mint tokens without any third-party assistance or experience working with blockchain.
“Gone are the days of creators having to navigate different surfaces, vendors, and services to drop/manage their projects, now they can do it all in one hub,” the company said in a statement. “We’ve worked to invest in new tools and services to help creators enter the space, manage their collections, and drop their projects all in one place, all with no coding or technical skills required.”
OpenSea’s new studio will both replace “lazy minting,” which allowed artists to create items off chain before they were sold or transferred, and allow users to choose from most of the blockchains compatible with the marketplace, the company also said.
The marketplace’s move to simplify the NFT creation and drop process comes amid a significantly deteriorated NFT market where monthly trading volumes and the number of active traders for Ethereum-based tokes are both in decline, according to The Block Research data.
The total number of transactions for Ethereum-based NFTs has been on the decline since February, The Block Research data also shows. Meanwhile, rival marketplace Blur replaced OpenSea late last year as the top trading platform by trading volume.
