OpenSea Phases Out Features as OS2 Launch Nears
OpenSea, the leading decentralized NFT marketplace, is set to replace its legacy platform with the upcoming OS2, but users are expressing mixed reactions, particularly regarding the removal of existing features.
OpenSea’s OS2 system, promising a split between “Collectors” and “Pros,” was first announced last November and officially launched late last month. Announcing on Wednesday, the platform revealed that not all OS1 features will transition to the new system. Effective June 16, features such as Deals, English auctions, testnet support, and the Shopping Cart function are being discontinued.
Feature Sunset Justified by Usage?
In a post detailing the transition, OpenSea stated that features like Deals and English auctions were considered for exclusion because, according to the firm, they weren’t utilized sufficiently by traders to warrant their inclusion in OS2.
Regarding the Deals feature specifically, OpenSea stated, “While there are no immediate plans to bring this functionality into the new OpenSea, we plan to listen to feedback and could decide to include it in a future product roadmap.”
User Backlash: Centering on Functionality and Scam Risks
The phasing out of Deals, a feature first introduced July 2023 that allowed complex multi-item transactions, ignited significant discussion on crypto Twitter.
“Without a ‘Deals’ feature (which isn’t available in V2) it poses major scam risks for collectors,” one user argued.
“I loved using the ‘Deals’ feature—it was fun, engaging, and led to plenty of interesting trades,” another explained.
NFT artist Justin Aversano shared a similar sentiment: “We need [the] deals feature to keep us safe please.”
Technical & Product Rationale
OpenSea’s Chief Marketing Officer, Adam Hollander, provided a product consistency and technical compatibility rationale. He noted, “The functionality simply doesn’t work with ERC 721-C contracts where royalties are enforced,” referring to a feature-set of NFT contracts that made the Deals function problematic and inconsistent.
Mixed Industry Opinions
Despite user pleas, not everyone advocates restoring Deals. Yuga Labs’ Director of Art, Eli Scheinman, believes the move aligns with an industry trend towards marketplaces focusing on specific niches.
“It is a relatively niche product feature used mostly for high-end art. This will be a continued trend,” Scheinman observed.
OpenSea has recently broadened its scope beyond Ethereum, with increased support for Solana, gaming assets, and other blockchains.
Industry Context: Shifting NFT Markets
The timing of OS2’s complete rollout comes as the overall NFT market faces challenges. Ethereum-based NFT trading volumes on OpenSea have generally trended flat this year, while the sector recorded a significant year-over-year sales drop of 62%.
