OpenSea NFT Marketplace Integrates Polygon Via Seaport

OpenSea NFT Marketplace Integrates Polygon Via Seaport
  • The firm unveiled its plan to add support for Klaytn and other EVM-compatible chains.
  • Moving Polygon to Seaport is a core component of its strategy.

OpenSea, the largest NFT marketplace, has just announced that the layer two scaling solution Polygon is now part of their implementation of the Seaport protocol. All listings and offers on Polygon will now be handled via Seaport, stated the marketplace. The firm aims to implement Seaport on OpenSea across many blockchains to make the platform better for all users.

OpenSea stated in June that it will be switching from the Wyvern protocol to Seaport, an open-source marketplace protocol that has been reviewed by Web3 security businesses OpenZeppelin and Trail of Bits. OpenSea claimed at the time that switching to the platform would reduce annual fees by $460 million.

Better Options For Users

The decision to make this alteration was motivated by a desire to reduce Ethereum gas costs, improve the legibility of signature confirmation processes, and do away with the necessity for new users to pay an account initialization or setup charge. Furthermore, it unveiled its plan to add support for Klaytn and other EVM-compatible chains in the future months.

The 0x protocol once drove Polygon on OpenSea. Moving Polygon to Seaport is a component of its strategy. In order to streamline operations and create a shopping experience on par with other chains. Because of this change, the firm will be able to expedite the rollout of new functionality to all EVM-compatible chains.

OpenSea claims that implementing Seaport on Polygon paves the way for the rollout of a number of additional services on Polygon, such as collection and attribute offers, zero listing thresholds, multiple creator rewards, and bulk transfers.

Furthermore, the ability to sell and purchase on OpenSea using MATIC, the native token of the Polygon network. This is perhaps the most significant new function.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.