Leading non-tradable token platform OpenSea has been migrated to the new open source protocol Seaport.

“The revolutionary Seaport product is an inherently decentralized and modern foundation that will help us (and others who use it) build and launch new features faster,” the Marketplace team said.

Among the key features of the upgrade, the developers named:

• significant reduction in gas costs;
• the ability to bid for entire NFT collections or a few coins with certain attributes;
• no account initiation fees;
• simplification of confirming transactions using a wallet.

According to their calculations, users can save up to 138,000 ETH on transactions (~$146.3 million at current exchange rate), according to last year’s data. Fees will be reduced by about 35%.

The feature offer option will initially be available for the first 100 token collections based on 30-day trading volume.

OpenSea stated that the updated protocol will allow the deployment of new features in the future. The developers cited as an example the ability to purchase multiple NFTs in a single transaction, as well as real-time royalty payments for multiple buyers.

Recall that in 2022 the market offers a number of solutions to protect against plagiarism, intellectual property rights violations and fraud.