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OpenSea adds support for Arbitrum Nova

OpenSea adds support for Arbitrum Nova


Blockchain

www.theblock.co

08 January 2023 13:15, UTC

  

Studying time: ~2 m


OpenSea, the largest market for digital collectibles and non-fungible tokens (NFTs), introduced assist for Arbitrum Nova.

Nova is a Layer 2 blockchain designed to supply knowledge availability at low price. With OpenSea integrating NFTs on this blockchain, customers can entry Nova as a less expensive choice to Ethereum when shopping for or promoting digital collectibles.

In September 2022, OpenSea added assist for Arbitrum Nova’s sister Layer 2 scaling community known as Arbitrum. Each Nova and Arbitrum are designed by Offchain Labs. OpenSea stated that collections on Arbitrum Nova will probably be grouped with different Arbitrum collections on the OpenSea web site.

OpenSea will not be the primary NFT market on Nova, which can also be supported by smaller opponents together with Trove by TreasureDAO, Babylons and ToFu. Nova can also be used to host Reddit’s group level tokens.

Nonetheless, it is in a section the place it has but to be extensively adopted. Based on Defillama’s knowledge on Arbitrum Nova utilization, it presently holds $890,000 in whole worth locked (TVL).


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