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OpenSea Expands NFT Support for Avalanche

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Joyashree Dey Follow

INDIA

Oct, 13 2022

Oct, 13 2022

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On October 11, OpenSea announced that the company has added NFTs from the Avalanche blockchain to its online marketplace.

  

The marketplace—which saw roughly $350 million in Ethereum NFT volume traded in September—now supports NFTs from 7 different blockchains, Polygon, Ethereum, Solana, Klaytn, Optimism, Arbitrum, and now Avalanche. 


Because NFT activity keeps on slow, a few giant players in the space have united to grow its range. The most recent to do so is OpenSea, which has launched natively on the layer-1 blockchain, Avalanche, for both firms exclusively. 


“The future of web3 is multichain, and it’s always been our goal to offer the best selection and connect people with projects and creators across the chains they prefer,” said Shiva Rajaraman, VP of product at OpenSea. 


The world’s largest NFT marketplace, OpenSea will work on the blockchain alongside existing platforms like NFTrade and other Avalanche-focused NFT marketplaces, including Kalao and Joepegs. According to OpenSea, with Avalanche, OpenSea clients will be able to settle NFT transactions in less than a second with low transaction expenses. 


“We listen to our community, and part of our community really wanted to have OpenSea,” John Wu, president of Ava Labs, stated. “We have a budding and vibrant creator and NFT community, and they wanted OpenSea as a choice.” 


All Avalanche-based NFT collections will be featured on OpenSea, and more will be rolled out over the long haul. 


Furthermore, Avalanche is working with a modest bunch of Web 2.0 enterprises for example business and consumer brands and sports teams, Wu said. These organizations wanted OpenSea as a choice on Avalanche, Wu said. 


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Joyashree Dey

CBW - External Analyst

INDIA

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