{"id":1252,"date":"2022-06-29T01:41:25","date_gmt":"2022-06-29T01:41:25","guid":{"rendered":"https:\/\/nftmetta.com\/?p=1252"},"modified":"2022-06-29T01:41:27","modified_gmt":"2022-06-29T01:41:27","slug":"opensea-migrates-to-seaport-protocol-claims-to-cut-ethereum-gas-fees-by-35","status":"publish","type":"post","link":"https:\/\/nftmetta.com\/opensea-migrates-to-seaport-protocol-claims-to-cut-ethereum-gas-fees-by-35\/","title":{"rendered":"OpenSea migrates to Seaport Protocol claims to cut Ethereum gas fees by 35%"},"content":{"rendered":"\n<p>June 29, 2022<\/p>\n\n\n\n<p>By Sharan Kaur Phillora<\/p>\n\n\n\n<p><a href=\"https:\/\/twitter.com\/opensea\">OpenSea<\/a>&nbsp;has moved to the \u201cSeaport Protocol,\u201d a new smart contract that the NFT marketplace says will allow its 1.8 million users to save money on&nbsp;<a href=\"https:\/\/twitter.com\/ethereum\">Ethereum<\/a>&nbsp;gas fees.<\/p>\n\n\n\n<p><strong>Here\u2019s what we know:<\/strong><\/p>\n\n\n\n<p>With the Seaport contract, users will be able to save roughly 35% on gas, the company said. And new accounts will no longer require that one-time \u201csetup fee\u201d OpenSea previously charged. \u201cWe estimate the new contract will save [over] $460 million in total fees each year,\u201d OpenSea wrote in a Twitter thread detailing the Seaport announcement.<\/p>\n\n\n\n<p><blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Today, we&#39;re officially moving to the Seaport protocol! <br><br>We estimate the new contract will save $460m + in total fees each year. But, that\u2019s not all \ud83d\udc40 Let\u2019s go through the updates\u2026   <a href=\"https:\/\/t.co\/89B1FJARnl\">https:\/\/t.co\/89B1FJARnl<\/a><\/p>&mdash; OpenSea (@opensea) <a href=\"https:\/\/twitter.com\/opensea\/status\/1536756396158599168?ref_src=twsrc%5Etfw\">June 14, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n\n\n\n<p>Seaport is an open-source project OpenSea announced last month, and the company says it\u2019s significantly more efficient than its old system when it comes to dealing with the blockchain. The fees that are being eliminated or reduced are called gas fees, which OpenSea neither controls nor profits from. Instead, they\u2019re a cost of an activity on blockchains like&nbsp;<a href=\"https:\/\/twitter.com\/ethereum\">Ethereum<\/a>&nbsp;or Polygon.&nbsp;<\/p>\n\n\n\n<p>OpenSea also promises the migration will bring new features alongside the reduced fees. Buyers will now be able to make offers on an entire collection of NFTs, and the marketplace will have something called \u201ctrait offers\u201d that lets you bid for every NFT in a collection with a certain attribute. OpenSea says that this will only be available for \u201cthe top 100 collections\u201d that use static attributes for now.<\/p>\n\n\n\n<p>The company hopes that the upgrade to Seaport will let it introduce other features at a faster pace. The big question now is whether the new features it comes up with or the lower fees will be enough to drum up more interest in NFTs<\/p>\n\n\n\n<p><strong>About the author<\/strong><\/p>\n\n\n\n<p>Sharan Kaur Phillora\u2019s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology \u2013 two emerging technologies that will change how we interact with each other in the future. When she isn\u2019t exploring a new idea or concept, she enjoys reading literary masterpieces.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>June 29, 2022 By Sharan Kaur Phillora OpenSea&nbsp;has moved to the \u201cSeaport Protocol,\u201d a new smart contract that the NFT marketplace says will allow its 1.8 million users to save [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/1252"}],"collection":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/comments?post=1252"}],"version-history":[{"count":1,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/1252\/revisions"}],"predecessor-version":[{"id":1253,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/1252\/revisions\/1253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media\/1254"}],"wp:attachment":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media?parent=1252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/categories?post=1252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/tags?post=1252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}