Nonfungible token (NFT) marketplace A new report says that Opensea’s competitors have been biting at its heels this year as they gain market share. This has changed the market from a “monopoly” to an “oligopoly.”
The Binance Market Pulse, which came out on Oct. 20, says that there has been a slow and steady change in market leadership. It says that OpenSea is still the most popular marketplace in terms of users and volume, but Ethereum (ETH)-based exchanges X2Y2 and Looksrare have been gaining market share since 2022.
Related: On OpenSea, the number of NFT trades has dropped to yearly lows.
