OpenSea Integrates BNB Chain on Seaport Protocol

bnb open sea

OpenSea, the world’s largest non-fungible token (NFT) marketplace, is planning to integrate BNB Chain on its Web3 NFT marketplace protocol, “Seaport protocol“, by the end of 2022 allowing users to buy, list and trade BNB Chain NFTs on OpenSea.

The NFT space continues to gain mainstream adoption, despite the ongoing bear market, with the number of investors and companies filling trademarks rising multifold.

According to data compiled by Mike Kondoidus, a prominent intellectual trademark attorney, the number of applications has surged from 2,142 in 2021 to 6,855 by the end of October, 2022. Meanwhile, as per DappRadar, there is still a great deal of interest in NFTs, with the number of unique traders increasing to nearly 18% in October 2022.

How will Integration Help?

In the latest development, OpenSea announced that the BNB chain will now be supported by the marketplace allowing users to purchase and list BNB digital collectibles. The move will also boost multiple creator payouts, collection management and other benefits for BNB Chain creators.

The integration will aim to reduce gas fees, provide easier signature confirmation actions, and eliminate setup fees. In addition to BNB Chain, OpenSea also plans to leverage Seaport protocol on multiple blockchains to reach more users.

Gwendolyn Regina, investment director at BNB Chain said,

“The integration will bring a large number of creators into the wider ecosystem, as well as empower the creators and NFT initiatives inside the BNB Chain ecosystem.”

Jeremy Fine, head of business and corporate development at Opensea, asserted that Opensea looks forward to adding more blockchain diversity for the NFT marketplace’s users. Fine added,

“We’re delighted to begin leveraging Seaport across multiple blockchains, including BNB Chain, to better the Opensea experience for everyone. This update will make it simpler to reach even more users and creators on the chains they prefer.”

OpenSea’s Rapid Expansions

NFT Giant OpenSea Integrates BNB Chain on Seaport Protocol

This comes on the heels after OpenSea announced that users could list and sell Avalanche-based NFTs, last month. The addition of Avalanche comes just weeks after OpenSea announced support for Arbitrum and Optimism scaling networks, as well as automatic indexing of Solana NFTs.

In September, OpenSea revealed it would be expanding support for additional blockchains and languages to retain its standing as the world’s largest NFT marketplace.  OpenSea has also expanded beyond blockchain and profile image projects, such as with its tie-up with Warner Music Group for music drops.