OpenSea has just announced Polygon support on Seaport in an effort to use Seaport across multiple blockchains and improve the user experience for everyone on the marketplace.
OpenSea, the world’s largest NFT marketplace, took to Twitter on Tuesday to announce that it would start Polygon support on Seaport effective immediately. Per the tweet, OpenSea will start using Seaport for all new listings and offers on Polygon.
According to OpenSea, the move to use Seaport across all Ethereum virtual machine-compatible blockchains (EVM-compatible) will make it easier and faster to ship new features and improve user experience for everyone who uses the marketplace.
Getting to Know Seaport
It will be remembered that back in June, OpenSea introduced a new, open-source Web3 marketplace protocol—the Seaport protocol—primarily for “safely and efficiently buying and selling NFTs.” Seaport was expected to take a unique approach to NFT trading.
Whereas typical NFT trading uses a platform to facilitate the transaction between buyer and seller, with Seaport, users will be given the option to offer payment tokens and assets to obtain NFTs. For instance, sellers can agree to supply items in the ERC-20, ERC-721, or ERC-1155 format, which will be referred to as the “offer.” Essentially, it involves bartering a combination of tokens and assets as a payment method.
To simplify, a user who wants a Bored Ape Yacht Club (BAYC) NFT that costs Ξ 100 but only has Ξ 60 worth of tokens can offer a Doodles NFT worth Ξ 40 and add his Ξ 60 to cover the BAYC’s total cost.
Seaport was initially launched on Ethereum, and in the months that followed, it has helped create a better and more feature-rich experience for the OpenSea community. At the same time, it has helped lower the cost of using Web3 marketplaces like OpenSea.
Polygon Support on Seaport
According to OpenSea’s blog post where they announced Polygon support on Seaport, the platform observed Seaport’s impact for several months and collected valuable user feedback. Such helped them develop Polygon support on Seaport, and it appears the company will add support for Klaytn and other EVM-compatible chains in the coming months.
It doesn’t mean, though, that this is Polygon’s first time on OpenSea. It’s just that previously, the 0x protocol was powering Polygon on the platform. With this move to Seaport, OpenSea is consolidating its infrastructure to provide a stabilized buying and selling experience that matches other chains. And as mentioned in the get-go, the move would allow OpenSea to ship new features across all EVM-compatible chains faster.
With Seaport now supporting Polygon, users can expect several new features to improve their experience with Polygon. These include:
- No listing thresholds: Users can now list and buy Polygon NFTs at any price since OpenSea has taken off the $5 minimum. However, the platform will implement a $1 minimum on offers to avoid low-intent deals.
- Native token support: Listings and transactions can be in MATIC, Polygon’s native token.
- Multiple creator fees: Creators who list on Polygon can provide up to four payout addresses that will be paid out in real-time.
- Collection and attribute offers: Most Polygon NFT collections will have available collection offers—offers on every item in the collection. Creators will also be able to enable attribute offers—offers for all items in a collection matching a requested attribute.
- English and Dutch auctions: Sellers can run English—ascending bid—auctions and Dutch—descending bid—auctions.
- List as bundles: Sellers will have the opportunity to list Polygon NFTs as bundles that buyers can purchase together (as a bundle).
- Purchasing for another wallet: Buyers can buy NFTs for another wallet—for example, they can buy an NFT as a gift for a friend (the NFT will be sent to the friend’s wallet) or hardware or multisig wallet.
- Bulk transfers: Polygon on Seaport users can transfer multiple Polygon NFTs to the same wallet in a single transaction.
As part of Opensea’s Polygon support on Seaport, the platform will also now be supporting MATIC, Polygon’s native token, as a payment option. Also, anyone who transacts on Polygon through OpenSea must pay their gas fees for MATIC transactions.
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