OpenSea Launches ‘Seaport’, an NFT Web3 Bartering Protocol

By Jana Serfontein May 24, 2022 In Crypto News, NFTs, OpenSea

OpenSea has announced the launch of a new marketplace protocol dubbed ‘Seaport’ that will allow its users to barter for NFTs, adding additional payment methods beyond just paying for the tokens with cryptocurrencies:

‘Seaport’ allows users to acquire NFTs in a range of new ways. For example, they can bundle different assets in exchange for NFTs, extending payment methods beyond just crypto:

SudoSwap already allows users to barter for NFTs, but this feature is now becoming native to OpenSea. According to the platform, a user “can agree to supply a number of ETH/ERC20/ERC721/ERC1155 items” in exchange for NFTs.

Tipping Support Also Offered Via Seaport

Adding to its new features, Seaport users can now also specify which criteria, such as certain traits on NFT artwork, or pieces of a collection they want when making offers. OpenSea will also support tipping if the amount does not exceed that of the original offer made:

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The NFT marketplace stated that “OpenSea does not control or operate Seaport protocol – we will just be one, among many, building on top of this shared protocol”.

As adoption grows and developers create new evolving use-cases, we are all responsible for keeping each other safe.

OpenSea blog post

OpenSea Rolls Out Wave of New Features

OpenSea continues to evolve and improve its users’ experience. Last month a leak was made public that reveals users will soon be able to trade NFTs on OpenSea using credit cards. Most recently, in an attempt to prevent fraud and plagiarism that hinders the NFT space, OpenSea announced it would be putting measures in place to reduce fraud while improving authenticity.

In a series of blog posts, OpenSea revealed it would be making two changes to the platform: an updated verification and collection badging system, and an automated system to aid in identifying, removing, and preventing instances of “copymints”.

Jana Serfontein
Author

Jana Serfontein

Jana has keen interest in what cryptocurrencies have to offer in regards to NGO’s, governments and the financial system. And is also intrigued with the psychological effect that cryptocurrencies have on society.

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