OpenSea, one of the most popular NFT marketplaces, has launched its first app for iOS and Android. The app allows OpenSea users to view the platform’s collection of digital assets, but notably does not allow any form of money to switch hands, digital or otherwise (through TechCrunch).
The OpenSea app basically works like a gallery of sorts. You can browse artwork, share listings you find and ogle fondly, and manage your own NFTs. The app shares many of the same blue-and-white styles of the OpenSea site, but only lacks the button that says “Buy Now.”
There are a number of possible reasons why actual NFT purchases are missing. At its most obvious, highest level, OpenSea probably doesn’t want to share a 30 percent discount on NFT transactions with companies like Apple and Google. That doesn’t help the people selling the work, and it doesn’t help OpenSea. The other complicating factor is that OpenSea’s payments are often made in Ethereum, which is currently not supported as an in-app payment method on either platform.
On paper, the OpenSea app furthers the company’s goal of “making NFTs more available to everyone,” but without the key economic element — the one sold to struggling artists and speculated on by hungry investors — it will be first and foremost. another way to look at beautiful JPEGs. The app is also launching at an inconvenient time for the company. OpenSea head of product Nate Chastain made a notable exit from the company last week following allegations of NFT insider trading.