OpenSea, the world's former top NFT marketplace, is launching a "no-code hub" to simplify the NFT creation and drop process for artists. The hub will allow creators to mint tokens without any third-party assistance or experience working with blockchain. OpenSea's new studio will replace "lazy minting" and allow users to choose from most of the blockchains compatible with the marketplace.

The move comes as the NFT market has significantly deteriorated, with monthly trading volumes and the number of active traders for Ethereum-based tokens declining. Rival marketplace Blur replaced OpenSea as the top trading platform by trading volume late last year.