OpenSea to Support NFTs on Layer-2 Network Arbitrum


Popular NFT marketplace OpenSea is set to enable support for the Ethereum layer-2 scaling network, Arbitrum. The integration is geared at bolstering access to non-fungible tokens (NFTs) and Web 3 services.

OpenSea to Support Arbitrum NFTs

In the Twitter thread, the NFT marketplace declared that the integration will take place tomorrow, September 21st. Following the integration, users will be able to trade various NFTs that exist on the Arbitrum network directly on OpenSea.

The thread further outlined the requirements for Arbitrum NFT creators to set up their NFTs in the giant marketplace, where it stated:

“After launch, creators will need to find their collections in OpenSea and set their creator fees directly. We encourage creators to do this at launch to be ready for any new transactions.”

Arbitrum NFT Collections on OpenSea

OpenSea’s collaboration with the Arbitrum network further entails that top NFT collections on the layer-2 scaling network will be featured on the NFT marketplace. Such NFT collections include GMX Blueberry Club, Smolverse, and Diamond Pepes.

Arbitrum, on its part, stated that its NFT community has been “a vital part” of its entire ecosystem growth “since day 1.” On-chain data reveals that the layer-2 network has garnered over 3.4 million total transactions in its NFT trades.

OpenSea Supports More Blockchains

OpenSea, the largest NFT marketplace by trading volume, supports several blockchain networks. Arbitrum is now in line to become the fifth blockchain to be supported on the NFT marketplace.

A January report revealed that OpenSea was in the works to integrate the Solana blockchain, which later occurred in April. Since its integration, Solana has bolstered sales of NFTs in the leading marketplace. 

According to the analytics platform Dune, OpenSea recorded a peak daily volume in transactions worth over $1.45 million through the Solana network in July. Currently, however, the NFT marketplace has seen a daily trading volume of nearly $110,000 on the Solana blockchain.

The other three blockchains supported by OpenSea are Ethereum, Klaytn, and Polygon.

Your crypto deserves the best security. Get a Ledger hardware wallet for just $79!

Market Analysis
Liked Reading? Share with Friends