The new Seaport protocol, which the popular OpenSea marketplace has switched to, will save up to 35% on fees. The trading platform software update is designed to improve the efficiency and security of trading fungible tokens.
The updated OpenSea protocol is open source, making it decentralized and more functional. Anyone will be able to refine its functionality in order to increase the efficiency of use.
The developers of the project noted that with its help OpenSea:
- Reduce commissions (up to 35%) and remove initialization fees for new users.
- Facilitates multi-bets on entire collections or NFTs with similar attributes.
- Receive a print signature that is easier to read and understand.
According to the OpenSea marketplace blog, based on last year's figures, users will be able to save up to $460 million on gas fees. New members will be able to save about $120 million by eliminating initialization fees.
This table shows the savings when transferring different types of NFTs:
For the convenience of OpenSea users, it will be possible to filter NFTs by rarity percentage, minimum price, and maximum supply. At launch, this option will be available for the top 100 collections by 30-day trading volume on the marketplace.
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