OpenSea Pro launches on Polygon - Here's why it's a big move

New Cross-Chain Compatibility: OpenSea Pro Launches on Polygon

In a recent announcement, OpenSea Pro, the largest NFT marketplace in terms of sales count, revealed its expansion onto the Polygon (MATIC) network. This move marks a significant step towards cross-chain compatibility, allowing users to seamlessly buy, sell, and list NFTs from the Polygon network on one of the leading NFT aggregators.

Enhanced User Experience with ethereum and Polygon

OpenSea’s updated dashboard now offers users the option to choose between ethereum (ETH) and Polygon as their preferred blockchain. Not only can users switch between the two seamlessly, but they can also have simultaneous access to both chains. This new feature enhances the user experience and provides flexibility for NFT transactions.

Introducing Bridge and Swap Functionality

In addition to the cross-chain compatibility, OpenSea also introduced a bridge and swap feature powered by the interoperability protocol Socket. This functionality allows users to bridge tokens to other chains and even exchange them for different tokens in a single transaction. The bridge and swap feature adds convenience and efficiency to NFT transactions.

OpenSea’s Strategic Move to Polygon

The decision to expand onto the Polygon network comes after the Binance NFT marketplace discontinued the listing of Polygon NFTs. This move by OpenSea Pro could be well-thought-out, considering the recent performance of Polygon NFTs. According to a report by Messari, the average weekly NFT trading volumes on Polygon saw a significant 131% increase in Q3.

The Battle Among NFT Marketplaces

OpenSea is currently leading the NFT market in terms of sales count, capturing a 48% market share. However, Blur, another popular marketplace, has emerged as the market leader in terms of sales volume, holding a commanding 67% share. OpenSea Pro, designed for professional NFT traders, has secured the third position with an 8.2% market share. The competition among NFT marketplaces continues to grow.

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As OpenSea Pro launches on the Polygon network, it opens up new opportunities for NFT transactions and further strengthens the ecosystem of both OpenSea and Polygon. With increased cross-chain compatibility and innovative features, OpenSea Pro aims to provide a seamless and efficient experience for NFT enthusiasts and professionals.

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