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Usha Yadav
Aug 31, 2022
by Usha Yadav

OpenSea Announced The Integration Of Polygon Into Its Seaport Protocol

OpenSea Polygon

Table of contents

  1. Seaport Protocol Implementation
  2. OpenSea Enables MATIC
The layer-2 scaling solution Polygon has been integrated into the Seaport protocol implementation by OpenSea, the largest NFT market by volume. OpenSea migrated to a new NFT platform in June created by a self-produced project called Seaport to improve transaction quality.

Seaport Protocol Implementation

OpenZeppelin and Trail of Bits are in charge of managing this open supply marketplace protocol. At the time, OpenSea claimed that relocating to Seaport would result in annual cost savings of $460 million. This change makes it possible to reduce gasoline costs, increase the availability of various NFTs, eliminate fees for opening new accounts, and add more user-friendly signature options.

"As part of the shift to Seaport, OpenSea now supports using $MATIC, Polygon's native token, as a payment option. Anyone transacting on Polygon using OpenSea will now be required to pay for their own gas fees for transacting using $MATIC."

OpenSea Enables MATIC

OpenSea now enables using MATIC, Polygon's token, as a payment option for the transition to Seaport. Any trader using OpenSea to access Polygon can pay fuel commissions using MATIC. Using Seaport on Polygon, according to OpenSea, allows for several additional features, such as collection and attribute offers, no listing thresholds, multiple creator rewards, and bulk transfers. The capability to list and purchase on OpenSea using the Polygon network's native token, MATIC, might be the most significant new feature.

OpenSea asserts that they do not direct or oversee Seaport but rather help the protocol development. Despite the deteriorating market conditions, OpenSea maintains a recruiting strategy.

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OpenSea Announced The Integration Of Polygon Into Its Seaport Protocol
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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