OpenSea New Version Will Be Launched In December

Key Points:

• OpenSea new version is scheduled to launch in December, with an improved user experience, improved trading access, and enhanced security measures.
• The NFT market is slowly recovering, with strong sales reported for various collectables.
• OpenSea is also facing legal challenges from the SEC, which issued a “Wells Notice” in August.

A new version of the leading NFT marketplace, OpenSea, will arrive this December. The upgrade is expected to give a facelift to user experience on the platform.

Read more: Layer 2 Network Blast NFT Has Been Launched On OpenSea

OpenSea New Version to Arrive in December

The company announced the news on X, where it opened a waitlist to enrol interested users.

The OpenSea new version will boast a suite of improvements to further open up access to trading, bolster safety, and streamline onboarding for its users. That, in turn, will create a more composable marketplace, better-arranging NFTs for a plethora of use cases and creating a superior user experience.

OpenSea in SEC’s Crosshairs Over NFT Classification

The company is doing this because the NFT market is gradually recovering and facing increasing competition from other platforms. Many NFT collections realized strong sales figures in October, showing interest in the digital asset class, which has been rejuvenated once more.

The launch of the OpenSea new version is also facing legal challenges. The company’s legal issues with the U.S. Securities and Exchange Commission are definitely a barrier to its expansion plans. Back in August, the SEC served a “Wells Notice” to OpenSea, an indication that the agency would sue the platform for claiming the NFTs traded over OpenSea could be considered securities.