NFT kingpin OpenSea unveiled Seaport, a new web3 marketplace protocol for safely and efficiently buying and selling NFTs. Build for all builders, creators, and collectors of NFTs, the platform claimed that the core smart contract is open source with no contract owner, upgradeability, or other special privileges.
Unlike conventional NFT marketplace where users can trade digital collectibles via only crypto as a medium of exchange, Seaport enables users to offer an array of payment tokens like ETH / ERC20 / ERC721 / ERC1155.
In order for that offer to be accepted, a number of items must be received by the recipients indicated by the offerer. One can assume it to be a modern version of a bartering system.
The newly launched OpenSea protocol will allow specific trades and swaps. Twitteratis appeared to be puzzled by the new features.
One user tried to offer his interpretation by saying that users can open “channels” and set criteria such as “I’ll swap this BAYC for three Azuki’s + 20 eth” and if someone deposits those matching assets, the trade occurs.
Not only that, the Seaport protocol has introduced the “tipping” as long as the amount does not exceed that of the original offer.
“This allows alternative interfaces to include their own fees and can be combined with zones to support listings with dynamic amounts and recipients, as well as other novel applications like on-chain English auctions,” the blog read.
OpenSea’s open-source new protocol isn’t the first?
The world’s largest NFT marketplace also stated that this is just the beginning for Seaport.
“We built the initial version of the protocol to unlock use cases and optimizations that creators and collectors expect from a modern web3 marketplace,” it added.
Having said that, some drew a comparison with the leading DEX Uniswap’s V3 launch. Solidity Developer Shegen tweeted,
“The @opensea Seaport launch is basically a UniSwap v3 moment for NFTs in terms of market efficiency and access to better tools for the general public.”
On May 5th, 2021, UniSwap V3 was unveiled on the Ethereum mainnet. The DEX’s latest version brought forth the new concept of multiple pools per pair of tokens, each with a different swap fee.