Opensea Pivots Away From BNB Smart Chain in Strategy Re-evaluation
Opensea, a popular NFT marketplace, has announced that it will no longer support Binance Smart Chain (BSC) as part of its strategy to align resources with the most promising efforts. Here are the key points:
- Opensea is phasing out the enforcement of NFT royalties.
- They have decided that the cost of supporting BSC outweighs the impact.
- From now on, you won’t be able to create new listings or make new offers on BSC NFTs, but you can still view, discover, and transfer them.
- Some users were unaware of BSC support, while others expressed grievances about the royalty ruling.
- Opensea remains optimistic about a multi-chain future and has added support for layer two (L2) blockchains Base and Zora.
Opensea believes that this strategic decision will allow them to keep pace with the rapid innovation in the NFT ecosystem. They are confident in their ability to direct resources towards the most promising efforts. While some users may be disappointed with the removal of BSC support, Opensea’s focus on a multi-chain future shows their dedication to adapting to the evolving needs of the crypto community.
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