OpenSea Adds Support for NFTs on BNB Chain

Popular marketplace for non-fungible tokens, OpenSea, announced Tuesday that it now supports the trading of NFTs stored on the layer-1 blockchain BNB Chain.

OpenSea Integrates BNB Chain

In a Twitter thread, OpenSea noted that it would integrate all NFT collections on BNB Chain that have conducted sales since January 1, 2022. As shown on the official website of OpenSea, 109 NFT collections have been added to OpenSea’s 2.4 million users. Some of the collections added were TruthSeeker NFTs and FireFox NFTs.

With the latest integration, NFT creators utilizing the BNB Chain will be able to have their NFTs listed and sold in the largest NFT marketplace. The move will also likely bolster the adoption of NFTs in the BNB Chain.

The move will benefit over one million users currently trading NFTs on the BNB Chain. Gwendolyn Regina, the Investment Director at BNB Chain, shared insights on the integration as to how NFT creators will benefit from it.

“The integration will bring a large number of creators into the wider system, as well as empower the creators and NFT initiatives inside the BNB Chain ecosystem,” she said.

OpenSea Now Supports Eight Blockchains

With BNB Chain joining the bandwagon of blockchain networks in the NFT marketplace, OpenSea now features NFTs hosted on eight blockchains.

In September, the NFT marketplace declared its move to integrate NFTs and Web 3 services on the layer-2 blockchain, Arbitrum. The team behind the layer-2 network acknowledged that the integration would bolster its NFT business. Just two months after it integrated into the leading NFT marketplace, Arbitrum conducted about 3 million transactions in NFT trades.

Earlier this year, OpenSea had included Solana on its bandwagon of blockchain networks. However, since the dramatic downfall of the once-giant crypto exchange FTX, the daily NFT sales on the network have significantly reduced. In October, Solana held a daily trading volume of about $360,000. However, it now sees only $17,700, as shown by the analytics platform Dune.

Other blockchain networks featured on OpenSea include Ethereum, Klaytn, Avalanche, Optimism, and Polygon.

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