OpenSea migrates to Seaport protocol: 35% lower fees, cancellation of fees


The OpenSea NFT-marketplace is switching to the Seaport protocol
It will allow the user to save up to 35% on commissions.

The company also introduces new security options

The leading NFT-marketplace OpenSea has switched to the new Seaport protocol.

It’s their own development which replaces the Wyvern protocol.

What’s changing

Seaport is an open source protocol. It brings these changes to the marketplace:

Cheaper gas fees (OpenSea estimates that the average savings will be 35%);
elimination of the fee for initializing a new account;
simpler and more convenient signatures;

The ability to make offers on entire collections or a group of items with selected characteristics (for example, the top 100);

The ability to view the percentage of rarity, minimum/maximum price for each attribute.

Gradually, the marketplace will introduce even more options. They plan to introduce the purchase of multiple NFTs in a single transaction and allow authors to specify multiple addresses for payments.

New security algorithms

OpenSea have announced another feature. It will automatically hide suspicious NFT transfers from prying eyes. They are also hiring a separate team of moderators to check NFTs. They will enforce copyright and protect against scammers.