Analysis Crypto by Thebittimes.Com

U.S.-licensed Formula One constructor Haas F1 Team has announced a collaboration with non -fungible token (NFT) marketplace Opensea. As part of the agreement, a collection of NFTs will be produced for Haas while Opensea’s logo will appear on its cars. Opensea to Help American Formula One Team Launch NFT Collection Leading peer-to-peer marketplace for non-fungible tokens Opensea will create an NFT collection for Haas F1. The collaboration was announced Thursday by Haas, the only American-owned team competing in the FIA Formula One World Championship. In a press release on its website, Haas F1 said: As the ‘Official NFT Marketplace Partner’ of Haas F1 Team, Opensea will work with the team and external collaborators alike in producing a collection of branded NFTs. The initiative aims to enhance fan engagement, the racing team indicated. “NFTs have the incredible power to unlock new experiences and give us a canvas to bring people together around the things they love in new ways,” add...

Source: AdobeStock / denisismagilov Despite the ongoing market downturn, non -fungible token ( NFT ) marketplace OpenSea has managed to report some $144.5 million in fees for the third quarter of this year.  Between July and September 2022, the business posted revenues of some $35 million, as indicated by figures released by crypto asset data platform Token Terminal. The positive figures for the third quarter of this year are good news for the company behind the marketplace, OpenSea LLC, but also for the legions of NFT creators who have successfully sold their tokens through OpenSea during the three-month period.  “Where did the rest of the money go to? The creators,” Token Terminal tweeted. At the same time, it must be noted that the latest results reported by the world's first NFT marketplace are significantly lower than those OpenSea was posting before the current downturn . Data released by crypto analytics business Dune Analytics shows t...