Major news from the biggest NFT marketplace in Web3 as OpenSea announces that it is migrating to the Seaport Protocol. OpenSea first introduced its marketplace protocol to the world a few weeks ago. Now it appears that we will get to Seaport in action starting today! But what is the Seaport Protocol and what effect will this have on OpenSea users? Let’s take a look.
What is the new Seaport Protocol from OpenSea?
OpenSea first announced Seaport to the world back in May. To sum up, Seaport is OpenSea’s new web3 marketplace protocol. With that said, Seaport is open source, meaning that other marketplaces will be able to use the protocol if they so wish.
The goal of Seaport is to make it cheaper and easier to buy and sell NFTs. Besides being open source, OpenSea says that Seaport is “inherently decentralized’. This makes it more appealing to builders and individuals in the Web3 space.