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Seaport now accessible to the Polygon community

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Opensea has announced support for Polygon on the Seaport network, a web3 marketplace protocol for efficient and safe trading of NFTs. On the Seaport protocol, NFT ownership is hosted on a blockchain, while the NFT marketplace protocol manages the operations.

The Polygon-Seaport integration makes it possible for Polygon users to buy and sell on OpenSea efficiently. Initially, Polygon on OpenSea was hosted on the 0x protocol. 

Then, in June 2022, Opensea migrated to Seaport to help save $460m paid in fees annually, and also remove the one-time setup fee required by users to buy and sell on the marketplace.

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Benefits of the Polygon-Seaport integration

The integration of Polygon with Seaport on OpenSea brings a lot of benefits including:

  • Buying and selling Polygon NFTs for as low as $1 which is less than the initial $5 mark.
  • Paying for collectibles, as well as auctioning them in MATIC, the native token of Polygon.
  • Collecting payments for NFTs with up to “4 payout addresses”.
  • Listing NFTs as bundles that buyers can purchase together.

Sellers can now run an English auction (where bids are openly arranged in ascending order) and a Dutch auction (where bids are openly arranged in descending order). Users can also make bulk transfers of NFTs to a wallet at once, and buy NFTs for different wallets.

According to Opensea, this integration will cut across other projects like Klaytn and other EVM-compatible chains in coming months.

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  1. Pingback: Seaport now accessible to the Polygon community by Chuks Nnabuenyi Jr – CryptoTvplus Events: NFT, DeFi, Bitcoin, Ethereum, Altcoin Events

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