Seaport – The New NFT Platform Developed By Opensea

Seaport is a unique platform developed by the leading NFT Marketplace itself OpenSea to improve trading quality has been launched.

Opensea “migrates” to new NFT platform Seaport

On June 15, OpenSea announced that the platform would switch to Seaport to provide users with more advanced features, including reduced gas fees, diversified NFT provisioning, elimination of fees, new account creation, and more customer-friendly signature options.

According to OpenSea, users will pay 35% fewer gas fees when transacting on Seaport. Based on data from 2021, the total savings are estimated to amount to $460 million (138,000 ETH) next year. Additionally, eliminating the setup fee would save $120 million (35,000 ETH) per year.

OpenSea first announced that the final platform would be built Seaport by May 2022. While OpenSea created the first version of Seaport, the project says the protocol is open source and authorized for use by all developers, creative artists, and users who collect NFT.

Besides, Seaport sellers will only have to pay a one-time fee per collection to sell NFT. Additionally, OpenSea introduces features such as purchasing multiple NFTs in a single transaction, providing real-time creator fees for various recipients and determining costs on an item-by-item basis.

However, OpenSea claims they do not control or operate Seaport and are merely contributing efforts to build on the protocol. More notably, OpenSea also said it is still implementing a large-scale recruitment plan despite the current market downturn.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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