OpenSea Introduces Polygon Support on Seaport

NFT marketplace giant OpenSea announced support for the layer-2 blockchain Polygon on its new Web 3 protocol Seaport. The integration comes with an expanded list of features, including the ability for users to use Polygon’s MATIC as a payment option.

• In a blog post on Tuesday (August 30, 2022), OpenSea said that the migration of Polygon to Seaport, with the blockchain formerly powered by the Ox protocol, will enable more features for a robust buying and selling experience using Polygon.
• Some of the added features include bulk transfers, multiple creator fees, the absence of listing thresholds, and the ability to list and transact using Polygon’s native token, MATIC.

“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.”

• In June, the NFT marketplace giant revealed that it was moving to Seaport for cheaper transactions. According to OpenSea at the time, users will save around 35% on gas with Seaport. Also, new accounts will no longer pay a one-time setup fee.
• OpenSea is also looking to add support for Klaytn and Ethereum Virtual Machine (EVM) compatible blockchains. An excerpt from the announcement reads:

“After several months of observing Seaport’s impact and collecting valuable feedback, we’re excited to introduce Polygon support on Seaport. In the coming months, we will be adding support for Klaytn and other EVM-compatible chains as well.”

• Meanwhile, the ongoing crypto winter and the collapse in NFT prices have affected OpenSea. As previously reported by CryptoPotato, data from DappRadar showed that the platform’s trading volume plummeted 99% from its peak in May.