OpenSea Adds Support for Zora's Ethereum Layer-2 Network

OpenSea Bolsters NFT Trading with Zora's Ethereum Layer-2 Network

OpenSea, a prominent player in the non-fungible token (NFT) industry, has announced its support for Zora's Ethereum layer-2 scaling network. This move is expected to enhance the efficiency of NFT minting and trading on the platform.

Zora, an NFT minting platform, recently launched its Ethereum layer-2 scaling network to expedite and reduce the cost of on-chain artwork minting. The integration with OpenSea means that art pieces minted on Zora's network can now be bought and sold on OpenSea. Furthermore, OpenSea's suite of NFT-related tools will now be able to mint assets on Zora's scaling network.

OpenSea: A Mainstay of the NFT Industry

OpenSea has been a significant force in the NFT industry, accounting for a large portion of organic NFT trading volume. The platform's support for Zora's network is a testament to its commitment to improving the NFT trading experience for its users.

Zora, founded in 2020, initially offered artists the infrastructure to sell on-chain, digital tokens tied to physical artwork and items. It has since transitioned to building an open-source protocol designed to allow any users to mint and sell NFTs, as well as build boutique NFT marketplaces.

The company's shift in June from the Ethereum mainnet to a layer-2 scaling solution has made minting 25 times cheaper, according to Zora CEO and co-founder Jacob Horne. Since the launch of the Zora network two weeks ago, the company claims to have facilitated over 70,000 mints and onboarded more than 50,000 collectors onto its own chain.

The integration of Zora's network into OpenSea's platform marks a significant step forward in the evolution of the NFT marketplace, promising a more efficient and cost-effective trading experience for users.