Share this article
NFT Marketplace OpenSea to Support Ethereum Roll-Up Arbitrum
“This is a first step in building our goal of a Web3 future where people have access to the NFTs they want on the chains they prefer,” OpenSea said in a tweet.
By Cam Thompson
Updated May 11, 2023, 5:53 p.m. Published Sep 20, 2022, 7:53 p.m.
Make us preferred on Google
OpenSea, the largest non-fungible token (NFT) marketplace by volume, said Tuesday it’s planning to support Arbitum, allowing creators to list NFTs minted on the Ethereum roll-up.
The marketplace said in a tweet that, starting Wednesday, creators will be able to set fees associated with selling NFTs on the network. OpenSea said it’s planning to support several collections already minting on Arbitrum, including Smolverse, GMX Blueberry Club and Diamond Pepes.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
OpenSea currently offers NFTs minted on Ethereum, Polygon, Klaytn and Solana. According to data from NFT Scan, NFTs on Arbitrum have a lifetime volume of 9,722 ETH, which pales in comparison to the lifetime NFT volume of roughly 23.5 million ETH on Ethereum. With the network’s Merge completed last Thursday, Ethereum's improvement may reduce the need for roll-ups such as Arbitrum to increase speed and reduce costs.
OpenSea said it is optimistic about its ability to offer another platform on which creators can mint and sell digital assets. “This is a first step in building our goal of a Web3 future where people have access to the NFTs they want on the chains they prefer,” the marketplace said in a tweet.
Read More: OpenSea Migrates to Seaport Protocol in Bid to Lower Transaction Costs
More For You
More For You
Recapping Consensus Hong Kong
Crypto's role in payments for AI, regulatory changes and the digital asset market dominated conversations on the ground.
What to know:
- Speakers at CoinDesk's Consensus Hong Kong conference said crypto and stablecoins are likely to become the default payment tools for autonomous AI agents in an emerging "machine economy."
- Market participants warned that bitcoin, which has already dropped nearly $30,000 in a month, may fall further, with $50,000 seen as the level to watch.
- Hong Kong regulators are pressing ahead with crypto rules even as others wait to see how U.S. legislation develops.
Top Stories
