New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Question

    OpenSea is a marketplace

    for
    A Blockchain Correct Answer Incorrect Answer
    B Cryptocurrency wallet Correct Answer Incorrect Answer
    C Fungible token Correct Answer Incorrect Answer
    D Non-Fungible token (NFT) Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Non-fungible tokens (NFTs) also took a hit as a result of the crypto fallout. NFTs are digital assets whose ownership is verified through transaction records stored on blockchains. Art work, digital avatars and accessorised monkeys are some of the most commonly traded NFTs. OpenSea is said to be one of the largest NFT marketplaces in existence. Earlier this year, the platform was valued at over $13 billion after raising around $300 million in venture capital. By August 2022, based on Ethereum blockchain data, OpenSea was used by two million traders who transacted at least once on the network.

    Practice Next