OpenSea users can save 35% on gas fees after migration to Seaport


Opensea has partnered with digital asset company Web3 Seaport, through this partnership they will improve their site metadata and OpenSea will be more accessible to more users by lowering some of their entry fees.Opensea, the world’s largest NFT marketplace, has recently announced a major migration with Seaport which they say will allow users to save 35% on fees going forward.Seaport is a new Web3 marketplace protocol, which is designed to allow users to trade digital assets securely, effectively and efficiently.

This is a good partnership for OpenSea because Seaport stands for the same values that Blockchain is trying to solve, which are decentralization, open source and scalability. Therefore, this partnership will be beneficial for both companies, as they will be able to scale OpenSea and make it more accessible to a wider audience by reducing their gas fees.The reduction in gas fees means that, based on last year’s trading data at OpenSea, this reduction would save about $460 million that was lost in gas fees last year. In addition, with this new migration, the sign-up fee that users have had to pay in order to use OpenSea will be eliminated, which would translate into a savings of about $120 million per year, according to OpenSea.Finally, Opensea will also be able to display the % rarity of each NFT, the minimum price for that type of rarity and the highest bid for that specific NFT rarity.This partnership is really beneficial for OpenSea, as it will be able to improve its on-site interaction and provide users with more information about the NFTs they own. Also, by improving their gas rates, and their sign-up fee, which will allow more users to enter the NFT space.

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