NFT marketplace OpenSea announced on Friday the launch of a new Web3 marketplace protocol, Seaport Protocol, for the safe and efficient buying and selling of NFTs, OpenSea said, “Seaport core smart contracts are open source, decentralized in nature, have no contract owners, have Upgradability and other features”.
Unlike some platforms that can only exchange cryptocurrencies for NFTs, the Seaport protocol allows users to acquire NFTs in a range of new ways, where bidders (or bidders) can bundle different assets (such as offering ETH/ERC20/ERC721/ERC1155 items) in exchange for NFTs. For example, suppose a user owns a Doodle NFT of 40ETH, but wants to trade BAYC NFT of 100ETH, the user can bid with the Doodle NFT he owns and 60ETH.
OpenSea said it does not control or operate the Seaport protocol and has partnered with code4rena to start a two-week protocol audit competition with a prize pool of $1 million.
