OpenSea NFT Marketplace Now Supports Layer-2 Scaling Solution Optimism

The OpenSea NFT marketplace recently announced that it had expanded to include projects based on Optimism, an Ethereum layer-2 scaling solution.

Oct 3, 2022
by Anvi Saini
OpenSea NFT Marketplace Now Supports Layer-2 Scaling Solution Optimism
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etOptimism joins the marketplace's support with five other existing networks: Solana, Ethereum, Klatyn, Polygon, and Arbitrum, another Ethereum scaler that was added last week. Since introducing blockchain compatibility, OpenSea's marketplace has seen listings for over a hundred Optimism-native NFT collections.

In announcing its collaboration with the organization, the leading NFT marketplace emphasized incorporating many well-known Optimism-backed projects, including Bored Town, Apetimism, OptiChads, and MotorHeadz.

The Power of Optimism

To begin, OpenSea urged Optimism-using NFT creators to establish creator fees by providing a link to a how-to guide. Also, it invited users to look for their preferred collections, which are now available for listing on its website. Furthermore, creators can earn up to 10% on each transaction made on the platform for their work.

The NFT market will be less fragmented, and more collections will be displayed in one place thanks to OpenSea's careful onboarding of diverse blockchain networks into its profile. The most actively traded Optimism NFT projects are OptiChads, Early Optimists, Optimism Quests, OptiPunks, and Apetimism.

Until last Tuesday, the vast majority of Optimism NFT trading took place on the NFT marketplace Quix. However, evidence suggests that Quix's trading volume is much lower than OpenSea's. On 25th September, for example, while Quix traded $26,000, OpenSea saw a whopping $9.9 million in trade activity during the same time period.

Effect on the market

Since the market-wide cryptocurrency crash in May, OpenSea's monthly trading volume has taken a blow. The market peaked in December 2021 at $4.86 billion, dropping 93% to $310 million in sales last month.

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