OpenSea is the default NFT marketplace by coverage: more collections, more chains and more listings than any competitor, with Seaport — an open-source settlement contract used across the industry — underneath it.
Approvals are the real risk
Listing an NFT means granting a contract permission to transfer it. That is how the vast majority of NFT theft happens: a phishing site imitating OpenSea presents a signature request that grants a drainer permission over your collection, and the signature looks like a routine listing. The contract is not the problem; the interface you were looking at is. Bookmark the real domain, verify signature contents on a hardware wallet, and revoke approvals you are not using.
The royalty reversal
OpenSea spent years positioning itself as creator-friendly, then made royalties optional under competitive pressure from Blur. Creators who had built businesses on expected royalty income found the terms changed with limited notice. The commercial logic was clear and the communication was poor, which is why royalty policy scores 6.5 despite the platform's other strengths.
Fees
The marketplace fee has been reduced to zero on most trades, which makes OpenSea competitive on cost for the first time in years. Creator royalties are optional in most cases, so what a seller pays and what a creator receives are both lower than they once were.
Who should use it
Anyone wanting maximum visibility for a listing or the widest selection when buying. Traders optimising for bid liquidity should look at Blur; Solana users should use Magic Eden or Tensor.