1. BITBILIHome
  2. Article

OpenSea introduces new P2P mechanism to revolutionize NFT trading

• 157 views

TL;DR Breakdown

  • OpenSea, a leading NFT marketplace, introduces “Deals,” a new feature enabling direct peer-to-peer NFT swaps.
  • Traders can trade NFTs and wrapped ether (WETH), enhancing their collections and avoiding risky transactions through third-party platforms.
  • Deals are powered by OpenSea’s advanced NFT trading platform, Seaport, and are introduced amid competition with Blur’s zero-fee marketplace.

Description

OpenSea, the prominent Non-Fungible Token (NFT) marketplace, has introduced a novel peer-to-peer trading mechanism named “Deals”. Announced yesterday, the feature is intended to enrich user trading experience by adding a new layer of transactional freedom to the platform. It important to note that Deals empowers traders to engage in peer-to-peer NFT swaps, strengthening their collections … Read more

OpenSea, the prominent Non-Fungible Token (NFT) marketplace, has introduced a novel peer-to-peer trading mechanism named “Deals”. Announced yesterday, the feature is intended to enrich user trading experience by adding a new layer of transactional freedom to the platform.

It important to note that Deals empowers traders to engage in peer-to-peer NFT swaps, strengthening their collections and establishing direct connections with fellow collectors. With the aim of fostering trust and preventing traders from falling prey to unscrupulous practices on various platforms, OpenSea’s Deals feature is set to revolutionize the NFT trading landscape.

About OpenSea “Deals”

The essence of the Deals feature lies in enabling collectors to trade NFTs directly with each other, without the involvement of intermediaries or third-party platforms. This approach aims to eliminate the risks associated with dealing through “sketchy DMs and websites” that some collectors have encountered in the past. As the NFT market continues to evolve, this direct approach fosters a sense of security and confidence among traders.

The Deals functionality allows users to initiate a trade by entering the username, ENS name, or wallet address of the person they wish to trade with. Subsequently, traders can select up to 30 NFTs for the trade and have the option to include wrapped ether (WETH) to “sweeten the deal.” Such flexibility empowers traders to craft personalized and enticing offers.

To ensure a smooth and efficient trading process, OpenSea mandates that both sides of the deal involve NFTs from the same chain and originate from badged (verified) collections. By adhering to these requirements, the platform aims to maintain the integrity of each transaction and uphold its reputation as a reliable marketplace.

When a user receives a Deal proposal, they have the freedom to accept or reject it based on their preferences. Should a trader accept the Deal, they will be responsible for any gas fees incurred during the transfer. However, it is worth noting that Deals swaps will not involve any OpenSea fees or creator royalties.

OpenSea’s introduction of the Deals feature comes at a crucial juncture as it competes with leading zero-fee marketplace Blur. Blur’s emergence since October has posed a formidable challenge to OpenSea’s market share. In May, Blur launched Blend, its native lending platform, which remarkably secured an impressive 82% of overall NFT trading volume within its first three weeks.

The new Deals feature is expected to bolster OpenSea’s standing in the NFT market. Despite conceding its leading marketplace position to Blur, OpenSea still boasts the highest number of listed collections and user accounts. This impressive user base positions OpenSea for a potential comeback, given its proactive approach to introducing innovative features like Deals.

Deals are powered by OpenSea’s native NFT protocol, Seaport, which was unveiled to the public in June 2022. Seaport serves as an advanced NFT trading platform that underpins the seamless execution of NFT swaps.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:OpenSea introduces new P2P mechanism to revolutionize NFT trading

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月21日 21:14
Next 2023年7月21日 22:28

Related articles

  • Japan is using generative AI in schools

    TL;DR Breakdown Japan’s Ministry of Education plans to integrate generative AI tools, like ChatGPT, into classrooms for limited use. The Ministry will release guidelines on AI use in schools, including ethical use and data entry practices. While Japanese officials initially supported AI technology, concerns around data privacy and copyright infringements have prompted a push for stricter regulations. Description The Land of the Rising Sun is now leading a rising trend: incorporating generative artificial intelligence (AI) into its educational framework. Japan is venturing into uncharted territory by integrating these advanced technologies into its school systems, demonstrating a progressive approach to AI in education. This bold step from the Japanese Ministry of Education, Culture, Sports, … Read more The Land of the Rising Sun is now leading a rising trend: incorporating generative artificial intelligence (AI) into its educational framework. Japan is venturing into uncharted territory by integrating these advanced technologies into its school systems, demonstrating a progressive approach to AI in education. This bold step from the Japanese Ministry of Education, Culture, Sports, Science and Technology underscores Japan’s commitment to pushing technological…

    Article 2023年6月25日

  • Prosecutors appeal bail decision for Terra founder amid allegations of market manipulation

    TL;DR Breakdown Kwon is accused of operating a fraudulent cryptocurrency firm in South Korea. Kwon and Han were apprehended at Podgorica airport in Montenegro, accused of trying to leave the country using counterfeit passports. The Montenegrin court charged them with forging travel documents. The prosecutors in Montenegro have appealed against a local court’s decision that granted bail to Kwon Do-hyeong, the founder of Terraform Labs, and his associate Han Chang-joon. During the hearing, accusations were made against Do Kwon, the founder of Terraform Labs, stating that he operated and organized a fraudulent cryptocurrency firm in South Korea and the United States (U.S.). As a result of these actions, the firm’s TerraUSD and Luna coins experienced a collapse. On March 23, authorities apprehended Kwon and Han, Terra’s former chief financial officer, at Podgorica airport in Montenegro. They were accused of trying to leave the country using counterfeit passports and were subject to an Interpol Red Notice, which urged law enforcement agencies to arrest them. On April 21, the Montenegrin court formally charged both South Korean individuals with the offense of forging…

    Article 2023年5月19日

  • Ripple CLO Accuses SEC of “Political Power Play” in Crypto Security War

    TL;DR Breakdown Ripple’s General Counsel accuses the SEC of a “political power play” in its aggressive crackdown on the crypto industry, arguing that the regulator lacks jurisdiction over certain cryptocurrencies like XRP. The SEC’s lawsuit against Ripple has sparked uncertainty in the crypto market, with XRP’s classification as security remaining a central point of contention. Description In a heated exchange on social media, Ripple Labs Inc’s General Counsel, Stuart Alderoty, launched a scathing attack on the United States Securities and Exchange Commission (SEC) over its relentless efforts to crack down on the cryptocurrency ecosystem through what he perceives as a politically motivated “security war.” The dispute centers around the SEC’s classification … Read more In a heated exchange on social media, Ripple Labs Inc’s General Counsel, Stuart Alderoty, launched a scathing attack on the United States Securities and Exchange Commission (SEC) over its relentless efforts to crack down on the cryptocurrency ecosystem through what he perceives as a politically motivated “security war.” The dispute centers around the SEC’s classification of certain cryptocurrencies as securities, leading to legal battles and regulatory…

    Article 2023年7月24日

  • Nigeria’s central bank adjusts eNaira model and hikes interest rate amid economic challenges

    TL;DR Breakdown The Central Bank of Nigeria (CBN) is modifying its eNaira model to encourage wider use of the digital currency, despite challenges such as lack of infrastructure and limited merchant acceptance. The CBN has also increased the Monetary Policy Rate from 18.5% to 18.75% to curb inflation, marking the first such decision by the new administration. These decisions highlight the challenges facing Nigeria’s economy and the efforts to promote digital currency adoption and manage inflation Description The Central Bank of Nigeria (CBN) is altering the model of its central bank digital currency (CBDC), the eNaira, to encourage more usage. Despite the number of eNaira wallets increasing to 13 million between October 2022 and March 2023, the adoption rate remains low for a country with a population of nearly 224 million.  The … Read more The Central Bank of Nigeria (CBN) is altering the model of its central bank digital currency (CBDC), the eNaira, to encourage more usage. Despite the number of eNaira wallets increasing to 13 million between October 2022 and March 2023, the adoption rate remains low for…

    Article 2023年7月26日

  • Here are the crypto affairs of the day – What happened?

    TL;DR Breakdown There was a major shift in crypto markets today, Binance has withdrawn its license application with the German regulator. A study by CFA Institute shows that a high number of Indian and Chinese respondents support CBDCs. Judge Philip Jeyaretnam of the High Court of Singapore ruled on July 25 that crypto is a property that can be held in trust. Description Need to know what transpired today in crypto? Here is the most recent news regarding daily trends and events affecting the Bitcoin price, blockchain, DeFi, NFTs, Web3, and crypto regulation. According to a recent survey conducted by the CFA Institute, investment professionals in emergent markets and developed markets are divided on the concept of a … Read more Need to know what transpired today in crypto? Here is the most recent news regarding daily trends and events affecting the Bitcoin price, blockchain, DeFi, NFTs, Web3, and crypto regulation. According to a recent survey conducted by the CFA Institute, investment professionals in emergent markets and developed markets are divided on the concept of a central bank digital currency….

    Article 2023年7月27日
TOP