OpenSea Exchange Trade Data

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OpenSea API

Exchange Information

What is OpenSea?

OpenSea is a popular decentralized marketplace for buying, selling, and trading non-fungible tokens (NFTs). It was founded in 2017 by Alex Atallah and Devin Finzer. The platform allows users to create, discover, and exchange various types of digital assets, from artwork and collectibles to virtual real estate. OpenSea operates on the Ethereum blockchain and has become a leading platform in the NFT space, facilitating millions of dollars in transactions.

What are the benefits of using OpenSea?

OpenSea is a leading decentralized marketplace for non-fungible tokens (NFTs), offering several benefits for users. Compared to its direct competitors, OpenSea stands out in the following ways:

1. Wide range of assets: OpenSea boasts the largest collection of NFTs, providing users with an extensive selection from various categories such as art, gaming, collectibles, virtual worlds, and more. This diverse marketplace allows users to explore and discover unique digital assets.

2. User-friendly interface: OpenSea's platform offers a user-friendly and intuitive interface, making it easy for both beginners and experienced users to navigate and engage in transactions. The platform provides clear information on NFT listings, ownership history, and transaction details, enhancing transparency.

3. Interoperability: OpenSea supports NFTs from multiple blockchains, including Ethereum, Polygon, and Klaytn, enabling users to trade across different networks. This interoperability increases accessibility and widens the audience for NFT trading.

4. Community-focused: OpenSea fosters a vibrant community of artists, creators, and collectors, promoting collaboration, engagement, and networking opportunities. The platform encourages users to create and share their own NFTs, allowing them to showcase their work and connect with a global audience.

5. Liquidity options: OpenSea facilitates both primary and secondary market transactions, offering liquidity for NFT investors and creators. Users can easily buy and sell NFTs, set auction listings, or participate in bidding, providing flexibility in trading options.

While there are other competitors in the NFT marketplace space, OpenSea's vast collection, user-friendly interface, interoperability, community focus, and liquidity options set it apart as a preferred choice for many individuals interested in NFTs.

How does OpenSea work?

OpenSea is a decentralized marketplace that allows users to buy, sell, and trade various digital assets such as non-fungible tokens (NFTs). It operates on the Ethereum blockchain, which is known for its smart contract functionality and robust ecosystem.

At its core, OpenSea leverages blockchain technology to enable trustless transactions and provide a transparent marketplace for digital assets. The Ethereum blockchain, with its decentralized nature, ensures that ownership and transaction history of NFTs can be easily verified and recorded.

When a user wants to list an item on OpenSea, they need to create a smart contract that represents the NFT. This smart contract defines the characteristics and attributes of the digital asset, such as artwork, music, or virtual real estate. The smart contract also includes information on the ownership, history, and provenance of the NFT.

Once a smart contract is created, it is deployed to the Ethereum blockchain, making the NFT publicly accessible on OpenSea. Users can then browse the marketplace and interact with the smart contract to buy or sell NFTs. Transactions on OpenSea are executed using Ether (ETH), the native cryptocurrency of the Ethereum network.

When a user purchases an NFT on OpenSea, the ownership of the digital asset is transferred directly on the Ethereum blockchain. This ensures that the transaction is secure and tamper-proof, as it is recorded on a distributed ledger that is maintained by multiple participants.

Overall, OpenSea harnesses the power of blockchain technology to create a decentralized and transparent marketplace for digital assets, allowing users to easily engage in the growing world of NFTs.

How does DIA fetch OpenSea trade data?

DIA employs a comprehensive approach to collect and manage data from various exchanges, including both DeFi and NFT platforms. The specific process of fetching trade data from OpenSea, as an NFT marketplace, differs from the approach used for DeFi exchanges.

For centralized exchanges, such as Coinbase, Kraken, and Binance, DIA employs scrapers that directly gather trade data from the exchange databases using Rest APIs or WebSocket APIs. The frequency of data collection ranges from 1 to 7 seconds, depending on the exchange. This approach ensures that DIA captures real-time trade information accurately.

In contrast, decentralized exchanges (DEXs) require a different approach. DIA collects trade data from various blockchains by subscribing to swap events in liquidity pools. This direct retrieval from the blockchain itself enhances the accuracy of the data. Notable DEX sources include Uniswap,, and PancakeSwap.

When it comes to NFT marketplaces like OpenSea, DIA captures live trading data by retrieving information from the integrated marketplace's smart contracts. This process has a retrieval period ranging from 20 seconds to 1 minute. By focusing on the smart contract data, DIA ensures accuracy and eliminates reliance on potentially unreliable bids and offers. Other NFT integrated exchange sources for DIA include Blur, X2Y2, and TofuNFT.

By implementing this comprehensive data management strategy, DIA is able to provide highly accurate and customizable price feeds to its users. The combination of various data collection methods, from scraping centralized exchange databases to subscribing to blockchain events, allows DIA to collect and process a vast amount of trade data from different types of exchanges.

How build oracles with OpenSea data?

When building price oracles with OpenSea trade data, DIA follows different processes depending on the type of exchange being referred to: DeFi or NFT.

For DeFi exchanges, DIA's process begins with data cleaning and outlier detection. This step ensures that the price estimation process is resilient against trades with prices that deviate significantly from the market price. Outliers and irregularities, such as market manipulation or flash crashes, are removed to avoid misaligned price data. DIA applies an Interquartile Range (IR) filter, which excludes data points and sets that lie outside an acceptable range relative to the interquartile range. This filtering method ensures that only trades falling in the "middle" quartiles move forward for further processing.

To determine the final price, DIA utilizes trade-based price determination methodologies. One example is the Volume Weighted Average Price (VWAP), which takes into account the different volumes of trades. Another methodology is the Moving Average with Interquartile Range Filter (MAIR), which creates blocks of trades ordered by timestamp and calculates the weighted average price for each block.

For NFT collections, DIA follows a different process. Firstly, the on-chain trade data is processed through cleansing filters to exclude market outliers and manipulation techniques. Then, a pricing methodology is applied to determine the final price point. One methodology provided by DIA is the Floor Price, which provides the lowest sale price of an NFT collection during a given time window. DIA also offers advanced methodologies like the Moving Average of Floor Price, which returns the moving average of a collection's floor price.

It is important to note that market manipulation techniques, such as wash trading and sweeping the floor, can impact the floor price of NFT collections. DIA's filtering mechanisms and outlier detection help produce more realistic and reliable NFT floor prices.

DIA is constantly open to discussing custom filters and methodologies to cater to specific use cases.

How does DIA source price oracle data?

Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.

Granular trade data collection
DIA retrieves token and NFT tradign data from 100+ exchanges. This enables DIA to build the most precise and customizable price feed oracles.
Instant, direct sourcing
DIA utilizes RPCs and WebSockets to subscribe to swap events and gather trading data from both DEX liquidity pools and CEX databases, allowing for real-time data collection.
Learn more about data sourcing