Leading NFT marketplace OpenSea has introduced a new feature called “Deals” on its platform that enables users to conduct peer-to-peer NFT swaps.
With the Deals function, collectors can now connect with each other effortlessly. To start a swap, users need to connect their wallets and then search for the person they wish to trade NFTs with using their username, address, or ESN. Once identified, users can select an NFT from their own collection that they want to trade and choose one they desire from the other party.
The proposal for the swap can also include WETH token offers, adding more flexibility to the process. The other party can then review and accept the deal directly through OpenSea.
The new feature is powered by Seaport, a highly efficient and vetted protocol in the NFT space, ensuring smooth and gas-efficient transactions.
This move denotes OpenSea’s commitment to providing a superior experience for NFT enthusiasts and staying ahead in a competitive market. In the past, the marketplace announced the availability of OpenSea Pro, an NFT marketplace aggregator in April, and integrated BNB Chain NFTs in December 2022, with the aim of attracting new users and enhancing the NFT trading experience.
In another notable development, in February 2023, OpenSea responded to competition from its main rival, Blur, by reducing fees to 0% and modifying the creator earnings model to a minimum of 0.5%.
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