Opeansea, the most popular NFT marketplace, has announced its migration from its existing dragon protocol to the port protocol. It expressed that the transition would ensure improved services and cheaper network charges.
Furthermore, the migration would enhance the expertise of users and also improve the services of the marketplace.
Opensea Transits To Seaport Protocol
According to statistics, Opeansea is the NFT marketplace with the highest sales records. It revealed on Tuesday that it would move its services to port protocol. Port is an open Web3 marketplace protocol.
The marketplace explained that by doing this, it would cut down its network gas fee significantly by 35%. Furthermore, the migration is said to enhance the expertise of customers.
In addition, users can format their low-level zero accounts for free. Likewise, important command languages have been upgraded with more features.
Opensea claimed to be the first existing NFTs marketplace to collaborate with the port protocol. It is also enticing the developers’ community to adopt the use.
A post revealed that the developers specifically design the protocol to enhance developers’ expertise. The firm’s blog post revealed that it does not have any say or control over the port protocol.
However, it intended to build its marketplace on the protocol. The protocol can accommodate many other projects that wish to build on it.
The Seaport deals are enhanced with a very strong and salient collection of low-level assembly code, this makes them easily readable.
Opensea Holds The Highest Record Of Sales For Marketplaces
According to statistics, Opensea is leading the list of NFT marketplace with the highest sales record of $31.09B. Additionally, it has a record of 1, 801,409 users with an average worth of 641.36.
Notwithstanding, it is enjoying a good number of sales more than other marketplaces. However, due to the general economic meltdown plaguing the world for a few months now, it recorded low sales.
Its sales have been estimated to be down by 40% of their initial value before inflation. However, the 24 hours price chart revealed a huge spike in the trade volume of Opensea.
The marketplace recorded a significant increase in sales volume. It reportedly received a massive 11.36% sales volume increase in just a day.
The reason was reported to the bearish crypto market which is unfavorable to the NFT industry. The prominent marketplace explained that Openzeppelin applied censorship during the initial procedures of developing the port protocol.
When the development was almost completed, Opensea port listed a well-detailed roadmap of Bits. It also launched an audit of the protocol.