OpenSea has expanded its ecosystem by adding support for the Arbitrum blockchain despite the declining volume of NFT transactions. The marketplace tweeted that producers may now establish their own rates for selling NFTs on the platform.
The leading NFT marketplace has announced that it will support the collections Diamond Pepes, GMX Blueberry Club, and Smolverse, which are now minting on the Arbitrum Blockchain. You can buy tokens with Polygon, Solana, Klaytn, and Ethereum.
OpenSea has made many improvements, most notably redesigning the site of the NFT market. The NFT marketplace is the biggest NFT platform by sales volume – it has settled $32.34 billion in total transactions.
OpenSea has incorporated three new features:
- Artists can showcase their collections on the website with devoted drop pages and increased discoverability.
- Collectors may now mint straight from the marketplace page.
- Drops will also have accessibility to Seadrop, a new, safe, open-source contract that drives the drop’s experience. It will eliminate the need for authors to construct custom smart contracts.
Overall, the platform is attempting to mitigate the negative impacts of the crypto winter, which has reduced the transaction volume of NFTs.
At the moment, OpenSea works with the Polygon, Ethereum, and Solana blockchains to facilitate the creation and trading of NFTs. To access the rest of the Arbitrum ecosystem, you’ll need to start with Arbitrum One, a permissionless rollup of Ethereum’s layer 2 that allows smart contracts on the Ethereum network.
The move to integrate Arbitrum could see OpenSea continue to dominate the NFT marketplace despite new players joining the system. Arbitrum could prove vital in mass NFT adoption in future, given the quick and cheap transactions.