Non-fungible token (NFT) marketplace OpenSea announced Thursday that it is launching Deals, an NFT peer-to-peer swap feature to help traders bolster their collections and interact directly with other collectors. The feature is based on the Seaport protocol, which OpenSea called the most reliable and convenient. The Deals feature allows users to offer to trade a certain number of tokens for others. Parties can also add wETH.
According to the Deals webpage, users must enter the username, ENS name, or wallet address of the person they wish to transact with. They can then choose up to 30 NFTs, as well as the amount of wETH they want to add to the trade. They then select the assets they want to offer to trade and can then submit the deal for consideration. Until now, only tokens from one chain of verified collections with an OpenSea badge can be redeemed. The list of NFTs available in Deals will be expanded later.
Currently, Deals is available commission-free and royalty-free. Gas costs are the responsibility of the buyer. An OpenSea spokesperson told CoinDesk that the goal of the new feature is to help more users participate in NFT communities by simplifying the exchange process. By using Seaport, collectors can exchange NFTs on OpenSea without being exposed to the risks that can arise outside the platform.
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