OpenSea’s newest NFT marketplace, Seaport, was released on Friday. Listings can be filled in a number of ways.
The marketplace will give users new ways to buy and sell NFTs, such as letting bidders pay for NFTs with assets other than just cryptocurrency.
In a blog post, OpenSea says that every port listing will have the same basic structure. This includes an improved EIP-712 signature payload that shows what can be spent and what will be given back.
When making an offer, traders will also be able to say what criteria they want in a given NFT or what part of the collection they prefer. The post also says that tipping will be okay, as long as it doesn’t go over the original NFT offer.
OpenSea stated that it would not be in charge of Seaport, but that it would be an open-source protocol on which developers could build.
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
Along with Trail of Bits, OpenZeppelin did a security audit of the protocol and found that there were no major security holes at the time.
But Crypto Twitter has mixed feelings about OpenSea’s recent announcement. Some people are confused about how the idea will work, while others say that the 0xv4 protocol’s NFT swaps offer a similar value proposition.
OpenSea has had to step up its efforts to become the most popular NFT by improving its features and adding support for other blockchain networks like Solana.
It also recently bought Gem, an NFT marketplace aggregator, to make the experience better for its users.
Magic Eden has more daily transactions than OpenSea. According to DappRadar, Magic Eden, the largest NFT marketplace in the Solana ecosystem, has more daily transactions than OpenSea.
Even though OpenSea’s numbers are higher than those of its competitor competitors in Solana, comparing the percentage growth of both shows that Magic Eden is the winner.
The number of transactions on OpenSea decreased by more than 47% to $245 million, while transactions on Magic Eden increased by more than 10% to $70.9 million.
But the fact that there are more unique smart contracts that interact with each other on OpenSea shows that it is better. In fact, OpenSea grew by about 9% in the last week to have more than 120,000 new users, while Magic Eden grew by 6% to have 129,000 new users.