OpenSea Embraces Zora’s Layer-2 Solution, Enabling Cross-Platform NFT Minting and Trading
Zora, the NFT minting platform that recently introduced its own Ethereum layer-2 scaling network for faster and more cost-effective on-chain artwork minting, has announced its integration with NFT marketplace OpenSea.
This collaboration allows buyers and sellers to transact art pieces minted on Zora’s network on OpenSea, while also providing OpenSea’s suite of NFT-related tools with the capability to mint assets on Zora’s scaling network. OpenSea joins over 45 other NFT platforms, including Sound, Gallery, and Rainbow, in supporting the Zora network. As a long-standing player in the NFT industry, OpenSea has historically accounted for a significant portion of organic NFT trading volume.
Initially founded in 2020 to provide artists with infrastructure for selling on-chain digital tokens tied to physical artwork, Zora has since shifted its focus to building an open-source protocol that allows users to mint and sell NFTs, as well as create niche NFT marketplaces. The company’s transition to a layer-2 scaling solution in June has significantly reduced minting costs, making it 25 times cheaper.
Since the launch of the Zora network two weeks ago, it has facilitated over 70,000 mints and onboarded more than 50,000 collectors onto its own chain. This integration with OpenSea further enhances Zora’s reach and accessibility within the NFT ecosystem.
Clever Robot News Desk 10th July 2023
