The largest NFT marketplace just got bigger.
OpenSea is not letting the bear market slow it down. As the market for NFTs continues to see a slow some players in the space have decided to join forces and continue to build. OpenSea has now partnered with Avalanche.
“The future of web3 is multichain, and its always been our goal to offer the best selection and connect people with projects and creators across the chains they prefer” stated Shiva Rajaraman who is the Vice President of Product at OpenSea.
Avalanche will be available on OpenSea along with other existing platforms such as NFTrade and other markets that are focused on Avalanche such as Joepegs and Kalao. OpenSea will offer traders the ability to settle transactions in under a second with very few fees according to the company.
At the time of this writing, all Avalanche NFT collections will be featured on OpenSea and more will be rolled over as time goes by. In a post on medium, the team at Avalanche announced
“On Avalanche, OpenSea users will benefit from the fastest time to finality for NFT trades-regularly settling transactions in under a second-and consistently low transaction fees as a result of Avalanche’s success in horizontally scaling with subnets”
Avalanche is currently ranked as the ninth biggest blockchain in terms of 24-hour NFT sales volume according to CryptoSlam. The blockchain sees a sales volume of $74,690 and all times sales have reached over $400 million. These numbers are of course lower than the leaders Ethereum and Solana which post $6.8 million and $1.5 million respectively in a 24-hour period.