The Impact of OpenSea’s “Get Based” Series on the NFT Ecosystem

The Impact of OpenSea’s “Get Based” Series on the NFT Ecosystem

OpenSea, a prominent NFT marketplace, recently introduced its “Get Based” series. This initiative aims to shine a spotlight on artists who are creating on Coinbase’s Base network, an Ethereum Layer 2 (L2) solution. Throughout the summer, up to 15 artists will have the opportunity to showcase their works through this series. The first drop in the series will feature a reimagined artwork inspired by the iconic “Endless Summer” film, created by Carty Sewill, an artist and employee at OpenSea.

Confirmed artists participating in the “Get Based” series include a diverse group of creators such as Jhekub, the mastermind behind RGB Punks; Hun, the creator of “Primitives;” Cryptic Poet, a meme artist; Yiying Lu, known for creating Twitter’s “Fail Whale;” Subwway, an illustrator; and Thank You Base God, who recently conducted a successful free Base NFT mint on OpenSea with over 181,000 total mints. Each artist brings a unique perspective and style to the series, offering collectors a variety of artworks to explore and acquire.

OpenSea’s increasing focus on Coinbase’s Base network is noteworthy. Unlike popular layer-1 chains such as Ethereum mainnet or Solana, Base represents a growing chain with high-value collections in the making. By featuring artists on the Ethereum L2 network, OpenSea aims to introduce collectors to the Base network and provide support to artists within this ecosystem. The ability to bridge assets to Base and make purchases using fiat currency and credit cards through MoonPay integration adds to the accessibility of the platform.

The timing of the “Get Based” series coincides with Base’s “On-Chain Summer II” promotion, commencing on June 3. With over 600 ETH (approximately $2.3 million) in prizes, incentives, and gas credits at stake, this promotion aims to drive engagement within the Base network further. By offering open edition NFTs priced at $5 or less, with some being free, OpenSea’s series creates an entry point for collectors to explore NFTs on the Base network while supporting emerging artists.

See also  The Rise of the Dogwifhat Meme: A Record-Breaking NFT Sale

OpenSea’s “Get Based” series contributes to the expansion and growth of the NFT ecosystem by showcasing talented artists and creating opportunities for collectors to engage with the Base network. By highlighting the potential of Ethereum Layer 2 solutions and promoting artistic diversity, this series plays a vital role in shaping the future of Web3 and NFTs. As the series unfolds throughout the summer, it is poised to make a meaningful impact on the NFT landscape.

Tags: , , , , , , , , , , , ,
NFT

Articles You May Like

Trends in Law Enforcement Requests to Coinbase: A Year of Decline and Surprising Growth
Bitcoin’s Bull Cycle: Insights and Projections Amidst Market Fluctuations
The Rising Tide of Simon’s Cat (CAT) on Binance: An In-Depth Look
Challenges and Opportunities in Institutional Cryptocurrency Adoption