- Leading NFT marketplace OpenSea has expanded its list of supported blockchains to include BNB Chain
- The integration aims to give NFT creators on BNB Chain opportunities to pocket more royalties
- BNB Chain also wants to use the integration to bring more people into the Web 3.0 space
Leading NFT marketplace OpenSea has added support for Binance-backed BNB Chain in a move meant to popularize NFTs to the chain’s “over 1 million existing users.” BNB Chain NFTs on OpenSea are expected to go live within the next one month to give the chain’s users the “best in class [NFT] experience.” The integration comes a few days after OpenSea’s rival, Magic Eden, added support for Polygon NFTs.
Low Setup Friction and Gas Fees
The chain’s investment director, Gwendolyn Regina, believes that the connection will attract more NFT artists to the platform while also igniting initiatives targeting digital collectibles on the blockchain. The move will also provide a pathway for creators on the platform to manage royalties and access low setup friction, while NFT traders will enjoy low transaction costs.
BNB Chain NFTs will now be available for listing and sale on @opensea.
The move will enhance #NFT trading experience for over 1 million existing users.
The integration with OpenSea’s standard core marketplace will enable #BNBChain support for creators to buy and list NFTs. 🚀 pic.twitter.com/ePmYDHMui7
— BNB Chain (@BNBCHAIN) November 29, 2022
The integration was made possible through OpenSea’s Seaport Protocol, a Web 3.0 protocol that makes it easy to set up an NFT marketplace. According to OpenSea, the update will “make it simpler to reach even more users and creators on the chain they prefer.”
Towards a Multi-chain World of NFTs
The connection comes a few weeks after OpenSea unveiled an on-chain tool to enforce creator fees for new collections and a few days after the marketplace reconsidered its move to support optional royalties.
NFT creator royalties have been a contentious issue within the community forcing other marketplaces like X2Y2 to reactivate support for compulsory royalties. BNB Chain markets itself as the largest Web 3.0-centric platform in terms of active wallets and users plus a leading “NFT marketplace by volume.”
The BNB Chain-OpenSea connection adds to a growing list of NFT marketplaces pushing for a multi-chain world of digital artworks.
