the OpenSea marketplace lands on Avalanche (AVAX)
The famous OpenSea NFT platform now supports the Avalanche ecosystem on its marketplace. In addition to this announcement, other clues suggest that the number of blockchains available could still expand.
Avalanche NFTs are coming to OpenSea
Tuesday at the end of the day, OpeaSea formalized its arrival on Avalanche (AVAX). The famous marketplace therefore becomes the network’s main non-fungible token (NFT) platform:
GM🔺! We’re excited to share that @avalancheavax #Avalanche is officially live on OpenSea!! pic.twitter.com/3nDP3zQGAx
—OpenSea (@opensea) October 11, 2022
Thus, the main collections are now listed on OpenSea, although the activity of NFTs on Avalanche is still far from competing with that of Ethereum (ETH) and its successful collections, such as CryptoPunks or Bored Apes Yatch Club (BAYC).
In fact, over the last seven days, the five collections with the most activity totaled a volume equivalent to nearly $74,000. In comparison, the Bored Apes achieved a volume of almost $700,000 in the last 24 hours alone.
Figure 1: Volumes of Avalanche NFTs
However, it is quite likely that now that OpenSea supports Avalanche, network activity come to develop naturally.
👉 To go further – Do you want to buy your first NFTs? Find our complete
Buy NFTs on Binance
Discover Binance’s NFT Marketplace 🔥
A platform with a multi-channel strategy
In order to have a maximum of cards in hand for the future, OpenSea regularly announces new blockchain additions to its platform. This was still the case recently for layer 2 Optimism. In addition to the latter, the NFT marketplace is present on the following networks:
- Ethereum (ETH)
- Solana (SOL);
- Avalanche (AVAX);
- Polygon (MATIC);
- Klaytn (KLAY).
In addition, OpenSea revealed that new blockchains would arrive on the platform. Along with the latest announcement, we might also speculate on a potential support for the BNB Smart Chain shortly.
And for good reason, although nothing is official yet, the multisig address of OpenSea, which has deployed the Seaport protocol on the various existing networks, is also active on the BNB Smart Chain for two months now :
Figure 2: Activity of an OpenSea address on BNB Smart Chain
If we observe the type of functions used in the transactions, we notice that this is very similar to what was done on Avalanche before the announcement. Moreover, the dates show that these operations were carried out almost simultaneously for the two networks. It would therefore be almost logical to see an announcement coming soon.
Beyond new blockchains, OpenSea is also diversifying in terms of languages. Indeed, in addition to English, here is what to expect in the weeks and months to come:
- Traditional and Simplified Chinese;
- Japanese ;
- French ;
With all these new features, already unveiled or to come, OpenSea demonstrates important work to develop the NFT ecosystem and make it more accessible to allwhile consolidating its leading position in the market.
👉 Related – Warner Music Partners with OpenSea to Build Fan Communities
Join Experts and a Premium Community
Invest in your crypto knowledge for the next bullrun
Sources: OpenSea, Blockscan
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.