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OpenSea facing competition from marketplace Sudoswap

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For a long time, OpenSea has been the top dog in the NFT marketplace. From being home to the best collections like the Bored Ape Yacht Club to perhaps the most recognized marketplace in the space, open sea reigned supreme.

But now, the marketplace may have some competition on its hands for Sudoswap, an upcoming NFT marketplace. Less than a month after opening, SudosApp has secured all around 10% of OpenSea Daily trading volume.

Sudoswap throws its hat into the ring

This achievement by Sudoswap Significant not only because the marketplace is new but because it offers unique features to customers. For example, sudoAMM is completely on-chain. This means that Marketplace users can access the same liquidity that the platform does using Ethereum.

Then there are the low fees that it charges for transactions. But your typical marketplace charges about 7.5% of the transaction value as a fee Sudoswap only charges 0.5%. This means that sellers can keep more of their profits than usual.

Finally, there is the cost of gas fees that Sudoswap users can save. Compared to its competitors, bulk trading NFTs on Sudoswap can be up to 40% cheaper. With all these benefits available to customers, it is no wonder that the marketplace has achieved so much trading volume in such a short span of time.

Learn more about other great NFT marketplaces >> here

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*All investment/financial opinions published by NFT Plaza are derived from the personal research and experience of our site moderators and are intended as educational material only. Individuals should do thorough research on any product before making any type of investment.



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