OpenSea: a new NFT marketplace protocol to restore its image

OpenSea upgrades its engine – The ecosystem of NFT has experienced unprecedented growth since the second half of 2021. At the same time, the platform OpenSea established itself as the undisputed leader among NFT buying and selling platforms. The latter has just announced an improvement in its protocol with the deployment of Seaport.

OpenSea unveils Seaport

OpenSea is the benchmark NFT buying and selling platform. With several billion monthly volumes, it stands out as the undisputed leader of the NFT ecosystem.

On May 20, this one announcement a major evolution of its protocol. Indeed, OpenSea unveiled Seaport, “a brand new Web3 marketplace protocol to buy and sell NFTs safely and efficiently”.

Seaport Logo

In practice, Seaport is a protocol allowing the purchase, sale and exchange of NFTs. Although developed by the OpenSea teams, Seaport is a protocol open-source. Thus, other NFT marketplaces could be developed based on the latter.

“OpenSea does not control or operate the Seaport protocol. We will be just one of many, building on this shared protocol. »

OpenSea Statement

Seaport’s code has already been audited by 2 companies, namely OpenZepplin and Trail of Bits, withoutno vulnerability major has not been discovered.

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Seaport: efficiency first

The Seaport protocol introduces many improvements in the operation of NFT buying and selling platforms.

Usually, NFT exchanges allow for sale announcements, where an NFT is offered for sale for a set amount of tokens.

For its part, Seaport offers a new approach. In fact, sellers will now be able to accept many rewardsin the form of’ethers (ETH) (as was the case until now), but alsoERC-20 or even other NFTs, in the form ofERC-721.

For example, a user could use Seaport to list a CryptoPunk NFT, accepting in exchange a bundle consisting of a Mutant Ape Yacht Club NFT along with DAI.

In addition, it will be possible to specify certain criteria for the completion of the sale, such as requiring an ID token or a trait specific to a collection.

Under the hood, Seaport’s contract appears to be a masterpiece of achievement. Indeed, several developers have shared their enthusiasm as for the optimizations made in the code of the smart contract.

This is particularly the case of the developer @JetJadeja who said on Twitter:

Damn it ! This is one of the best, if not the best, Solidity directories I have ever seen. »

Indeed, the contract contains many passages written in assembler, allowing an important optimization of gas costs.

The care given to the code and its security could well allow OpenSea to restore its image. Indeed, the platform has made the news many times after being the target of attacks of all kinds, such as the latest to have targeted his Discord server.

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OpenSea: a new NFT marketplace protocol to restore its image


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