Wednesday, December 6, 2023

OpenSea Announces a Brand New Web3 NFT Marketplace.

According to online news sources, the popular gas-free NFT marketplace OpenSea has reportedly announced a new Web3 NFT marketplace on May 20, 2022. The all-new Web3 NFT marketplace will be called ‘Seaport’, and it will be the latest place for trading popular NFT collections. As per the announcement, the new decentralized marketplace will be open to all collectors, content creators, and developers who wish to build on it.

It has been found that Seaport will move away from the standard NFT trading model, in which a platform is required to facilitate a deal between the buyer and seller. The new approach will allow the sellers to ‘offer’ a number of items in the form of ERC-721, ERC-20, or ERC-1155 tokens. When several items are received by a buyer, it will be known as ‘consideration’. It was told in the announcement that all the listings on Seaport will come with a signature payload of EIP-712. Besides being automated, the governing of this new process will be done by the decentralized smart contract.

What will the Automated NFT be like?

As per the announcement, Seaport will use ‘fulfilments’ to facilitate the transactions and make sure that they are processed in the right way. In the new system, the problem of redundant transfers will be eliminated. As the gas-intensive transfers are replaced, the transactions will become significantly more efficient. Besides this, Seaport will consist of other functions like ‘channels’ and ‘zones’, which will make the transaction process easier while preventing system abuse. Seaport will also support ‘tipping’ which will make way for dynamic listings.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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