OpenSea, the world's largest and most active marketplace for non-fungible tokens (NFTs), has once again proven its commitment to enhancing user experience by introducing a groundbreaking feature known as 'Deals'. This innovative feature enables users to offer a combination of their NFTs in return for another user's collection, introducing a new level of flexibility and security to NFT trading.
Understanding OpenSea 'Deals'
With 'Deals', OpenSea users can now trade a combination of their NFTs for others, and even sweeten the deal with Wrapped Ether (WETH). The feature is powered by the Seaport protocol, well-known for its gas efficiency and reliability in NFT transactions.
This innovative approach eliminates the need for shady direct messages and external websites, facilitating all transaction processes directly on OpenSea's platform. As such, users can negotiate, view, and accept deals with unparalleled convenience and peace of mind.
The current iteration of 'Deals' supports ERC-721 NFTs from badged collections that are visible in a user's profile. However, the transactions made via this feature do not include the OpenSea fee or any creator earnings, and the user accepting the deal bears the gas cost.
Using the 'Deals' Feature: A Step-By-Step Guide
Using the 'Deals' feature on OpenSea is designed to be user-friendly. To initiate a deal, users need to hover over their profile icon and select 'Make a deal'. They then enter the username, ENS name, or wallet address of the desired trade partner. Once this is completed, they can browse the partner's eligible items, selecting up to 30 items they wish to acquire, and then click 'Next'. Users then navigate through their own collected items, choosing which ones they want to include in the deal.
If desired, they can also determine an amount of Wrapped Ether (WETH) to add to the deal. After clicking 'Next' again, users review their proposed deal and, once satisfied, click 'Send deal'. A confirmation message will appear at the bottom of the screen once the deal has been sent. While the proposed deal can be canceled at any point from the 'Deals' tab in their profile, it's important to note that this cancellation will require a gas fee.
With the introduction of the 'Deals' feature, OpenSea reaffirms its position as a pioneer in the NFT market, providing its users with a flexible, safe, and efficient method of trading NFTs. As the platform continues to evolve, it sets the pace for what's possible in the dynamic and burgeoning world of NFTs.