OpenSea: Announcement of “Seaport,” a protocol that enables flexible and efficient NFT trading

NFT Marketplace’s “OpenSea” announced a new open-source trading protocol, “Seaport”. It is offered to combine various currencies and items such as ETH, ERC20, ERC721, and ERC1155 from  May 20, 2022.

Opensea NFT Marketplace

What is the NFT Marketplace “OpenSea”?

OpenSea is the world’s largest NFT marketplace where you can create, sell, and sell NFTs issued using Ethereum / ETH blockchain technology. Which released its beta service in December 2017, has rapidly increased in the number of users and is now known to people worldwide as the “largest NFT marketplace.”

OpenSea can be used for free by connecting a wallet such as ” MetaMask” that can store Ethereum-related virtual currencies and NFTs and creating an account. Anyone can easily buy and sell NFTs and create and publish NFTs from images, videos, audio and 3D models.

Opensea allows you to buy and sell NFTs to users worldwide just by creating an account, attracting attention from people worldwide as an attractive place to try NFTs, and all over the globe. It is announcing “Seaport” that allows you to buy and sell NFTs in various ways.

What is Seaport?

OpenSea is a new open-source trading protocol, “Seaport,” that can offer offers by combining various currencies and items such as ETH, ERC20, ERC721, ERC1155, etc., in May 20, 2022.

Seaport is “a completely new Web3 marketplace protocol for buying and selling NFTs safely and efficiently”, which is for, which NFT builders, creators, and collectors, not just OpenSea.

In a typical NFT marketplace, you can only list if one party agrees to sell the NFT and the other party agrees to pay with a particular token. With this new feature, the offeror can decide to offer several various items such as “ETH, ERC20, ERC721, ERC115.

In addition, it explains that each exhibited work can specify some “criteria” instead of requesting a specific token ID, and it will be possible to offer at the collection level or characteristic level.

In addition, each item can also specify “start amount” and “end amount,” and this amount will be compared with the current time and listing start/end time to derive the current amount, which is a reverse Dutch auction. It also explains that it will be possible to have an ascending/descending mechanism for the amount of money.

In addition to this, it explains that the “tip function” is supported, etc. “Unless there are more chips than the initial offer, additional items can be included when completing the listing.

OpenSea, Anyone can use it freely and for free.

OpenSea can be used freely by Anyone with a wallet such as MetaMask. Although there is a specific fee for buying and selling NFTs, registration and use are free, and you can also create a MetaMask wallet for free, so you can quickly start using the service. Opensea is one of the best Sites about virtual assets.

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