OpenSea, a popular NFT marketplace, has launched a marketplace protocol with a number of new features. In addition to this, we will incorporate safety and efficiency when buying and selling NFTs. However, it is important to note that OpenSea does not control the protocol. Here’s what it means:
Ported over the sea now?
On May 21st, NFT Marketplace OpenSea introduced Seaport’s new web3 marketplace protocol to buy and sell NFTs safely and efficiently.
Introducing Seaport, a new web3 marketplace protocol for buying and selling NFTs safely and efficiently.
With a focus on flexibility and optimization, Seaport is built to support the new and evolving use cases NFTs are heading towards.https://t.co/3lUQIQm0km
— Open Sea (@opensea) May 20, 2022
Seaport allows users the option to earn NFTs by offering assets other than payment tokens such as Ether (ETH). According to the platform, users can “can. Agree To supply a number of ETH / ERC20 / ERC721 / ERC1155 items in exchange for NFT” means bartering token combinations as a payment method.
Bidders bundled different assets in exchange for NFTs. Unlike now, only cryptocurrencies can be exchanged for NFTs. SeaPort users can also specify desired criteria when making a proposal, such as certain characteristics of NFT artwork or part of a collection. The platform supported tipping as long as the amount did not exceed the amount of the original offer.
Sailing without a destination…?
Well, that’s exactly what some users have been questioning after this development. user expression Confusion over the concept of a new market protocol. Others have requested further investigation.
— D (@EffortCapital) May 20, 2022
In addition to this, other users have inquired regarding: tax issues (Trade both NFT and ETH for a single token). In any case, OpenSea had no control over the protocol. It therefore positions itself as a shared and public resource for developers.
However, these advances can help heal wounds that have occurred in the past. For example, just two weeks ago, scammers started hacking into major OpenSea Discord servers and posting fake collaboration announcements.