OpenSea’s Migration to the SeaPort Web3 Marketplace is Estimated to Save Users 35% in Ethereum Gas Fees


Recently the team behind the popular NFT marketplace of OpenSea, announced that they had migrated to SeaPort. The latter is a decentralized Web3 NFT marketplace ‘designed for safely and efficiently buying and selling NFTs.’

SeaPort Users to Save 35% in Fees in Comparison to OpenSea.

SeaPort is also designed to enhance users’ experience by significantly lowering Ethereum gas costs.

According to the team at OpenSea, SeaPort users will save 35% in Ethereum gas fees, which translates to roughly $460 million per year or 138,000 Ethereum. New users will also be exempt from paying the one-time setup fee to use OpenSea, thus increasing total savings by another $120 million per year.

Stay in the know on crypto by frequently visiting Crypto News Today

New Features Coming Soon on SeaPort

The team at OpenSea also pointed out that they will soon launch new features on SeaPort, such as bulk listings which will allow users to buy multiple NFTs at one go. Creators will also have a chance at defining ‘their fees on-chain on a per-item basis with multiple payout addresses.’


SeaPort Will Be Open source.

In an earlier announcement, the OpenSea team pointed out that SeaPort will be open source. They said:

We built the initial version of the protocol to unlock use cases and optimizations that creators and collectors expect from a modern web3 marketplace.

However, what we’ve really built is a foundation to empower the developer community to work together on this primitive.
OpenSea does not control or operate the Seaport protocol — we will be just one, among many, building on top of this shared protocol.

OpenSea is Hiring.

The OpenSea team further requested community members to share their thoughts on improving the platform via Discord and Instagram.

In addition, OpenSea announced that it was ‘hiring across the board’ with open positions in business development, design, engineering, finance, legal, marketing, operations, product, and trust and safety. Read More at EWNCRYPTOCASTER® - DECENTRALIZED FREEDOM!

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt

You may also like