Major NFT marketplace OpenSea announced on the 16th that it has launched its official app on Google Play and Apple App Store.
Initially, OpenSea was only accessible via web browsers, but with the new app, users can access features such as NFT holdings, transactions, and transaction history efficiently.
OpenSea recorded high transaction volumes in the month of August, totaling $3.4 billion in trading volume with over 2 million transactions. The marketplace contributed to over 96% of the trading volume recorded in August.
Although the trading volume has since declined in September, the launching of the app might once again inflate the shrinking NFT market.
OpenSea recently sparked controversy after one of its top executives was found to be involved in insider trading.
The employee was exploiting the company’s private information to purchase NFTs which were displayed on the front page of the website. Since the displayed NFTs gained more traction, they were able to amass large profits after selling them.
On the 16th, OpenSea reported new developments and said that the insider trading employee had resigned at the company’s request along with undergoing an internal review by a third party.
In a blog post, the company wrote:
“We do not take this behavior lightly. Upon learning of this conduct, we immediately commissioned a third party to conduct a thorough review of the incident and make recommendations on how we can strengthen our existing controls.”