OpenSea to Launch New NFT Trading Platform With a Lot of Improvements

    OpenSea announced the launch of a new NFT platform, making it easier for users to buy and sell NFTs efficiently.

    In an official announcement posted on May 20, OpenSea unveiled the new platform will be called Seaport, giving users more options to own NFTs.

    Previously, traders could only use cryptos to buy NFTs, now with Seaport, they can use both crypto and NFT in exchange for an equivalent NFT.

    Besides, Seaport users can also stake NFTs with a specific feature from a random collection. This feature is for those who don’t care what type of NFT they get, as long as it has a feature they’re looking for.

    For example, when a trader wants to collect NFTs with a smiling expression, he or she can stake on an ape with such feature from the BAYC collection. In addition, the platform also supports a tip function, providing that the amount does not exceed the initial recommendations of the platform.

    OpenSea insists it does not fully control or operate the Seaport platform. The company is merely one of many Seaport developers. OpenSea’s aim is to empower Seaport for the community, positioning the project as a valuable resource that is widely shared around the world.

    Lastly, OpenSea announces a 2-week competition for all developers to join and receive a total prize value of up to $1 million. The competition is conducted to find bugs that arise in the early stage that help improve platform security.

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