After several months of evaluation, Seaport, the new protocol of the OpenSea non-fungible tokens (NFTs) platform, will welcome the Polygon (MATIC) sidechain. This will allow OpenSea users to settle their transactions in MATIC tokens. According to the company, new EVM-compatible blockchains will also be added in the coming months.
Polygon moors at OpenSea Seaport
OpenSeathe largest marketplace for non-fungible tokens (NFTs) by volume, announced that its Seaport protocol would now integrate Polygon as well as payments in MATIC tokens.
Starting today, we will begin using Seaport for all new listings and offers on Polygon! We’re excited to start using Seaport across multiple blockchains to improve the experience for everyone on OpenSea.
Here’s what you can expect with this move to Seaport ↯
—OpenSea (@opensea) August 30, 2022
“Starting today, we will start using Seaport for all new listings and offers on Polygon! We are excited to start using Seaport on multiple blockchains to improve everyone’s experience on OpenSea. »
Introduced in June, the Seaport protocol has been deployed on OpenSea in order to bring a whole lot of improvements for usersin particular a considerable reduction in transaction costsestimated at around $460 million in annual savings.
The protocol, totally open source, will now welcome Polygon in order to increase its offer after several months of evaluation. According to the OpenSea press release, Klaytn and other blockchains compatible with the Ethereum Virtual Machine (EVM) will be added in the next few months.
As we pointed out previously, the payment in MATIC tokens will now be possible on OpenSea:
“As part of the move to Seaport, OpenSea now supports the use of $MATIC, Polygon’s native token, as a payment option. Anyone transacting on Polygon using OpenSea will now have to pay their own gas fees to transact using $MATIC. »
To read: How to assess the potential of a collection of NFTs?
NFTs in bad shape
Our colleagues from Fortune reported just a few days ago a significant drop in the total transaction amount on the OpenSea platform: 99% less volume over 4 months.
Also, while the platform processed the equivalent of $2.7 billion transactions on May 1, the latter only processed 80 million over the last 7 days according to data from DappRadar. Of course, the fall in the volume processed and the massive drop in floor prices of the different collections is to be related to the bear market.
Thus, the 2 most popular collections, the Bored Ape Yacht Club (BAYC) and the CryptoPunkssaw their floor price fall by respectively 53% and 19% in comparison with their highest price (ATH) reached this year.
However, OpenSea has deemed this calculation method unsuitable and prefers consider the volume of transactionswhich itself fell by 62% over the same period. However, the company prefers to see far ahead and is confident in these troubled times on the market:
“We’re playing the long game because we see what’s possible, so we’re not so concerned about short-term volatility. We’ve always expected there to be scum, hype and deflation as the community and use cases evolve. […]. »
In the news: After Instagram, Facebook now allows you to display your NFTs by connecting your wallet
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