NFT developers just got a new tool to build with as the bear market rages on.<\/p>\n
OpenSea, the leading NFT marketplace, has launched what the company bills as a \u201cweb3 marketplace protocol for safely and efficiently buying and selling NFTs.\u201d\u00a0<\/p>\n
The protocol, called Seaport, will allow for a more varied, but also more specific, NFT trading experience \u2014 users will be able to post offers for NFTs including ERC20, ERC721, and ETH, instead of just ETH trading like OpenSea facilitates currently.\u00a0<\/p>\n
This means that instead of listing an NFT for a certain amount of ETH, users will be able to list a potential trade for specific NFTs. For example, a user could use Seaport to create an offer to trade a Bored Ape<\/a> for a bundle including a CryptoPunk<\/a>, a Cryptoadz<\/a>, and a bit of Uniswap\u2019s<\/a> UNI token.\u00a0<\/p>\n This brings NFT trading more into the realm of bartering, a dynamic that those who traded Pok\u00e9mon cards or other collectibles may find familiar.\u00a0<\/p>\n The trades could get more granular \u2014 according to OpenSea\u2019s blogpost on Seaport<\/a>, individual NFTs could be specified in a trade, as well as specific traits. So a user could post an offer to trade their Bored Ape for a particular CryptoPunk using its ID number. Or they could post an offer to only trade an Ape for one of the nine Alien CryptoPunks<\/a>.<\/p>\n \u201cBasically the market liquidity just got way deeper because now all the standing offers and swaps are connected,\u201d\u00a0 Shegen<\/a>, a Solidity developer, told The Defiant. \u201cThis is basically a Uniswap v3 moment for NFTs in terms of market efficiency and access to better tools for the general public.\u201d\u00a0<\/p>\n Uniswap v3<\/a> was a major development for DeFi in May of last year, which increased the capital efficiency<\/a> of the liquidity deployed on the automated market maker (AMM<\/a>).<\/p>\n In its introductory blog post, OpenSea emphasized that, in true crypto fashion, the protocol isn\u2019t owned by anyone \u2014 it\u2019s open-source and has no contract owner, making it much closer to a public good than a proprietary product.\u00a0<\/p>\n Developers are impressed<\/a> with the gas optimizations of the contract<\/a>, which includes a \u201csignificant\u201d amount of assembly code, according to OpenSea<\/a>. Assembly code is more granular than high-level languages like Solidity, making it harder to write, but allows for a higher degree of control.<\/p>\n Shegen added that the OpenSea contract is one of Ethereum\u2019s biggest gas guzzlers \u2014 the optimizations, some enabled by the use of assembly code, should help to make transactions cheaper for products using Seaport.<\/p>\n As the NFT market volumes continue to flatline, Seaport may enable developers to lay the foundation for another bull run in the fledgling industry looking to establish itself as mainstream.\u00a0<\/p>\n Building on the platform looks to have already commenced \u2014 the founder behind the play-to-earn game Worldwide Webb<\/a> who goes by hack3r.eth has already unveiled<\/a> plans to build a user interface on top of Seaport.\u00a0\u00a0<\/p>\n<\/div>\n![\"\"](\"https:\/\/lh5.googleusercontent.com\/q8n13HzLCGmq52OQz0YmAsjpnHiSWXOv8o0_oyJntK1BgcyLHcaKSsXV5KRNnYvcVq8Kn65-qF2AXNq9tya9koXnTGvYIo0uJJACALolxoenky4ICmrJo5BseVahdTu7z7uSI30dJlSjTg2uSA\")
Bartering<\/h4>\n
Cheaper Transactions<\/h4>\n
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