OpenSea integrates NFTs based on the Arbitrum One solution


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opensea arbitrum

Today, the largest NFT marketplace, OpenSea, is launching support for layer-2 Ethereum scaling solution Arbitrum. Popular NFT collections, such as Diamond Pepes by dopex_io, GMX Blueberry Club, and Smolverse, will soon become available on the marketplace.

The company explained that after the roll-out, “creators will need to find their collections in OpenSea and set their creator fees directly.”

OpenSea currently offers NFTs based on the Ethereum, Polygon, Klaytn, and Solana blockchains.

Arbitrum is an L2 scaling solution for Ethereum, a system that improves the performance and scalability of smart contracts. It offers the benefits of trustless security, compatibility with Ethereum, scalability, and minimum cost. 

Arbitrum is relatively new with NFTs, though. It has an all-time sales volume of 9,732 ETH, a small fraction compared to Ethereum NFTs (25.7 million ETH) or Solana’s NFT volume (27 million SOL). Most NFTs on Arbitrum currently reside on smaller and less known marketplaces, such as Agora and Stratos.

“The NFT ecosystem on Arbitrum One has been a vital part of our growth and community since day 1. Being on L2, NFT communities are enabled to collaborate and be even more inclusive than ever before due to the low gas fees that come with launching on Arbitrum One!”

Arbitrum wrote on Twitter.

Today, September 21, at 6 pm UTC, OpenSea and Arbitrum are hosting Twitter Spaces to share additional details about the integration journey with users.

Yesterday, Arbitrum announced a 400 ETH (approx. $520,000) bounty payout for finding a vulnerability between Ethereum and the Arbitrum Nitro bridge. The bug, which could have caused more than a $250 million loss, was discovered before any assets were stolen.

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Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.

Agne Cimermanaite

Agne is a journalist and writer with a background in literature, culture, and arts. She entered the Web3 space in 2021 and began writing about cryptocurrency and NFTs. Agne is passionate about technology and storytelling and is always on the lookout for exciting stories.

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