OpenSea redesigns parts of its NFT store as sales continue to slump

Image: OpenSea

OpenSea, one of the largest NFT marketplaces, has changed its profile and collections pages to make them easier to navigate and to make the actual NFTs themselves the center of attention. In an announcement post on Thursday, the company said that the redesigns are just the beginning of its work to refine how its site works.

OpenSea's refreshed profile pages look a bit like social media sites. That is not a bad thing. The marketplace has smoothed out some of the edges of the old version, which could be difficult to navigate at times.

The newly-designed Profile and Collection pages make it easier than ever to navigate OpenSea.



Our goal is to make it easier to highlight your favorite content, find new stuff from creators you love and discover more NFTs.

— OpenSea (@opensea) May 26, 2022

The collection page shows off groups of NFTs. It looks a bit more modern and puts less emphasis on metrics, like how many people own those NFTs and what the cheapest NFT in the collection is.

Image: OpenSea

The redesigns come at an awkward time. NFT sales have been declining over the past year. OpenSea didn't choose this time to launch an entirely new NFT marketplace like Coinbase did, with painful results so far. OpenSea's average selling price, number of traders, and sales volume are all down since last month, but it still remains the most active marketplace in terms of dollars spent.

Table: DappRadar

The NFT market as a whole has continued to decline according to data from NonFungible. The number and dollar amount of sales have been declining throughout the year, despite a massive spike on May 1st when the company behind the Bored Ape Yacht Club launched a project called Otherside. The sales volume is down but the dollar amount of sales is up.

Chart: NonFungible.com

Chart: NonFungible.com

It seems unlikely that a redesign will revive the NFT market, but for those who are still using OpenSea, the experience should be a bit nicer.