As the new Web3 protocol has already been tested on Ethereum (ETH) blockchain, the extra features and a relatively low cost of maintenance proved the protocol to be beneficial on other blockchains too. Therefore, some big changes are coming to OpenSea with the integration of Polygon (MATIC). The most important one is being able to use the Polygon (MATIC) cryptocurrency on all transactions on OpenSea. Other new features worth mentioning include:
Furthermore, OpenSea revealed that one of the reasons behind the switch to Seaport protocol was the high Ethereum (ETH) gas fees. As the second largest crypto asset is waiting for the highly anticipated ‘The Merge’ upgrade, compared to the current network setup it would save a whopping $460 million in fees annually.
Easier to read transaction confirmations are great, but for those who haven’t registered on OpenSea yet, the news is even greater: new users won’t have to pay the initialization fee. According to OpenSea, this move alone will help the renowned NFT community save up around $120 million per year.
Why You Should Care
With many crypto & blockchain companies aiming to switch to an eco-friendly, cost-effective way of maintenance, OpenSea is leading the way in the NFT market. The most popular NFT marketplace of all time can add millions to the total market capitalization if the move is proven to be successful.
Learn more about OpenSea’s recent updates and crypto community feedback
Find out what record OpenSea NFT marketplace set earlier this year
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Source: Cryptocurrency - investing.com
