OpenSea Adds Polygon Support to Expand NFT Platform

The layer 2 scaling solution Polygon has been included in the Seaport protocol implementation by OpenSea.

OpenSea is the world’s first and largest digital marketplace for crypto collectibles and non-fungible tokens (NFTs).

“Starting today, we will begin using Seaport for all new listings and offers on Polygon!” OpenSea’s official Twitter account wrote on social media. “We’re excited to start using Seaport across multiple blockchains to improve the experience for everyone on OpenSea.”

OpenSea declared in June that it was abandoning the Wyvern protocol in favor of Seaport. This open-source marketplace protocol has been examined by Web3 security companies OpenZeppelin and Trail of Bits.

At the time, OpenSea claimed switching to OpenSea would result in annual fee savings of $460 million.

Why Seaport Chose Polygon

The update was made in an effort to reduce the cost of Ethereum gas, simplify the reading of signature confirmation operations, and do away with the requirement that new users pay an account creation or initialization charge.

Opensea claimed that after months of observing Seaport’s assessing the performance of Seaport and gathering insightful feedback, the company decided to introduce Polygon support on the platform.

Previously, the 0x protocol was used to power Polygon on OpenSea.

But now that Polygon has been transferred to Seaport, Opensea is consolidating its infrastructure in order to offer a more reliable purchasing and selling experience that is comparable to that of other chains.

Additionally, the change will speed up the release of new features across all chains that are EVM-compatible.

New Features

The partnership between Polygon and Seaport is bringing over several new features that will look to make the purchase and selling experience of the platform even better.

Among the new features, you can find:

  • No listing thresholds: Polygon NFTs can now be listed and purchased for any amount; the $5 minimum has been removed. To assist stop low-intent offers, there will now be a $1 minimum for offers.
  • Native token support: Buyers and sellers can list and transact in Polygon’s token, MATIC.
  • Multiple creator fees: Up to 4 payout addresses can be specified by creators for instant payments.
  • Collection & attribute offers: Collection offers (deals on each item in the collection) will be offered for the majority of Polygon NFT collections. Additionally, creators can enable attribute offerings (offers for all items in a collection that match the requested attribute).
  • English and Dutch auctions: Both English and Dutch auctions will be available to sellers.
  • List as bundles: Polygon NFTs can be listed by vendors as bundles that can be bought together.
  • Purchasing for another wallet: Buyers can buy for another wallet, such as a hardware or multi-signature wallet, or as a present for a friend.
  • Bulk Transfers: Users are able to send numerous Polygon NFTs to the same wallet at once.

As a result of the switch to Seaport, OpenSea will now accept payments made with MATIC, Polygon’s native token.

Any user of OpenSea who transacts on Polygon will now be responsible for covering their own gas costs while utilizing MATIC.

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