OpenSea, the largest marketplace for non-fungible tokens (NFTs), has unveiled a new protocol that will support the purchase and sale of NFTs. The new feature seeks to streamline the NFT purchase process.
OpenSea launches Seaport
The company confirmed the launch of this new NFT protocol in a blog post. The Seaport protocol will make it easy for users of the NFT marketplace to acquire NFTs through a wide range of ways, which could streamline acquiring NFTs.
Those who use Seaport can combine different assets in exchange for a single NFT. This is a different process from where users can only buy NFTs using crypto.
Most NFTs on the OpenSea protocol are listed in ETH, and users have to deposit Ether tokens to buy these NFTs. However, a user can now combine their Ether tokens with other NFTs held on the platform to buy new NFTs they are interested in.
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This is not the first feature to be launched facilitating such swaps. SudoSwap is a feature that allows users to exchange NFTs, and they provide this functionality. However, this new feature will be native to the OpenSea marketplace.
Through Seaport, users can now bid on the unique traits available in a collection. This will happen in cases where the bidder is specific about the features they are looking for in an NFT and are less concerned about the kind of NFT they are buying. For instance, a user searching for a smiling feature can choose to buy a smiling Bored Ape from the collection.
OpenSea unveils a tipping feature
Besides expanding user experience through this new protocol, it will now be possible for users on the platform to support tipping. The OpenSea marketplace is also choosing to focus on decentralization. To achieve this, the marketplace is positioning itself as a shared and open resource that developers can use.
“A fulfiller may include additional consideration items when fulfilling a listing as long as they do not “tip” more than the original offer. This allows alternative interfaces to include their own fees, the statement from OpenSea said.
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