Thursday, July 25, 2024

OpenSea set to remove inactive listings through upgrade

OpenSea, an NFT marketplace, has come up with an upgrade aimed at removing inactive listings. The platform’s users will need to migrate their NFT listings to the new smart contract. Currently, its being hosted on the Ethereum blockchain.

An official announcement stated that the new upgrade will ensure old, inactive listings on Ethereum securely expire. It will allow OpenSea to offer new safety features in the future.

The NFT listing, after successful migration, will display the original date of posting. Following the deadline, users will be allowed to relist the delisted NFTs over the new smart contract. OpenSea will not charge any gas fees for NFT migration. However, it will nullify the old Ethereum-based smart contract. This will bring the old offers to an end.

The platform said that old offers, during the migration period, on items will expire. Moreover, offers made on the old smart contract will become invalid. Migration is a two-step process. In the first step, the user needs to navigate to OpenSea and click on the “Migrate Listings” option. In the second step, the user has to click on the “Confirm” button that will be available next to each listing. A notification will then establish the migration. As such, users see the listing with a new expiration date.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com 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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