NFT Marketplace OpenSea Switches to Seaport Protocol

Reading Time: < 1 minute

Non-fungible token platform OpenSea has recently moved to the new open source protocol Seaport.

According to the team of the marketplace:

“The revolutionary Seaport product is an open source, inherently decentralized and modern foundation that will help us (and others using it) create and launch new features faster.”

Some of the new features included in the protocol are significant reduction in gas costs, the ability to make offers for entire collections of NFTs or for several tokens with certain attributes, no account initialization fee as well as simplification of confirmation of operations using a wallet.

According to their calculations, users can save up to 138,000 ETH on transactions based on last year’s data. Thus, fees will be reduced by around 35%.

Follow and like us on