Andre Cronje Released New Rival To NFT Marketplace OpenSea

Andre Cronje released a new rival to the NFT marketplace OpenSea a few weeks later after an employee from the company, Nate Chastain was accused of insider trading as we reported in our crypto news.

Earlier this month, Nate Chastain was accused of insider trading as he knew which NFTs would feature on the OpenSea homepage and bought and sold those NFTs to make a profit of $65,000. Chastain’s behavior shook up the community and opened a new empty place for an NFT marketplace that would be decentralized and undercut the 2.5% commission that OpenSea had. Yearn. Finance creator Andre Cronje used the opportunity as his new NFT marketplace Action was just launched in beta on the Fantom blockchain and it looks a lot like OpenSea.

Artion is out!

Artion is an open source NFT marketplace built on Fantom.

Key features:

🔹 near-zero tx cost and instant finality

🔹 0% commissions on sales

🔹 low minting fees

🔹 @chainlink price feeds

and much more to come!https://t.co/Dse9ksvw39

— Fantom Foundation (@FantomFDN) September 24, 2021

Andre Cronje released Artion and this platform takes no commission. It will support the same ERC-721 tokens as OpenSea and Fantom but it costs just 1 FTM to mint an NFT while it can cost several hundred dollars to mint NFTs on Ethereum. Artion’s NFT is stored on the decentralized web hosting network IPFS and can be no bigger than 15MB, priced according to the feeds from the oracle services of Chainlink. Since Artion’s is based on the Fantom blockchain, it is faster and much cheaper than the ETH-based Opensea.

Since it is open-source, Cronje expects other people to fork Artion. He clarified that he is not trying to destroy OpenSea but really loves “starting fires.” He even posted a GIF saying “It’s not about the money, it’s about sending a message.” Artion’s major limitation currently is a small choice. There are about 50,000 NFTs on Artion and they are all Fantom NFTs. On the top there’s Rarity but the other part of the collection includes rising projects like StrangeBrew, Ancestral Umans, FantomPunks, and FantomWaifus. Most of the popular NFTs are based on Ethereum and OpenSea which accounts for most of the secondary NFT sales.

Artion has a limited selection for now but things are likely to change.
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Etheruem, Arbitrum, Polygon, and Avalanche are first on the list of blockchains that will integrate into the marketplace and he planned to add a new blockchain each week. Offering services with smaller fees or other incentives is known as “vampire mining” as Sushi did it to Uniswap last summer and worked well. Cronje even said that vampire mining is not his preferred choice of play but Artion is open source and other teams could take on OpenSea using Artion’s code.