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OpenSea Launches ‘Seaport’, An NFT Web3 Bartering Protocol

May 24, 2022
in Australian Crypto News
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OpenSea Launches ‘Seaport’, An NFT Web3 Bartering Protocol
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OpenSea has announced the launch of a new marketplace protocol dubbed ‘Seaport’ that will allow its users to barter for NFTs, adding additional payment methods beyond just paying for the tokens with cryptocurrencies:

Introducing Seaport, a brand new web3 marketplace protocol for safely and efficiently buying and selling NFTs.

With an emphasis on flexibility and optimizations, Seaport has been built to support new and evolving use-cases for where NFTs are heading.https://t.co/3lUQIQm0km

— OpenSea (@opensea) May 20, 2022

‘Seaport’ allows users to acquire NFTs in a range of new ways. For example, they can bundle different assets in exchange for NFTs, extending payment methods beyond just crypto:

Seaport is a web3 marketplace protocol for buying and selling NFTs, and is not just for OpenSea. This is an open source smart contract which allows customized NFT markets. This seems very consequential to the NFT ecosystem! https://t.co/bBiZvy3iDu

— yewjin.eth (@limyewjin) May 20, 2022

SudoSwap already allows users to barter for NFTs, but this feature is now becoming native to OpenSea. According to the platform, a user “can agree to supply a number of ETH/ERC20/ERC721/ERC1155 items” in exchange for NFTs.

Tipping Support Also Offered Via Seaport

Adding to its new features, Seaport users can now also specify which criteria, such as certain traits on NFT artwork, or pieces of a collection they want when making offers. OpenSea will also support tipping if the amount does not exceed that of the original offer made:

Opensea announced something MAJOR today – they created a protocol for NFT marketplaces called Seaport

Here’s what it means, why it’s big for decentralization and how this radically changes how we buy/sell/trade NFTs

🧵👇 pic.twitter.com/A5AsZqERZB

— atareh.eth ⌐◨-◨ (@atareh) May 21, 2022

The NFT marketplace stated that “OpenSea does not control or operate Seaport protocol – we will just be one, among many, building on top of this shared protocol”.

As adoption grows and developers create new evolving use-cases, we are all responsible for keeping each other safe.

OpenSea blog post

OpenSea Rolls Out Wave of New Features

OpenSea continues to evolve and improve its users’ experience. Last month a leak was made public that reveals users will soon be able to trade NFTs on OpenSea using credit cards. Most recently, in an attempt to prevent fraud and plagiarism that hinders the NFT space, OpenSea announced it would be putting measures in place to reduce fraud while improving authenticity.

In a series of blog posts, OpenSea revealed it would be making two changes to the platform: an updated verification and collection badging system, and an automated system to aid in identifying, removing, and preventing instances of “copymints”.

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The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.


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