KEY POINTS

  • NFT marketplace OpenSea launches Seaport
  • Seaport is a Web 3.0 marketplace protocol
  • Tipping, barter system among new features 

OpenSea, the world's largest non-fungible token marketplace, has introduced a barter system for NFTs and other features including a facility for tipping.

The new offering called Seaport allows users to pay for NFTs with other NFTs, according to an official blog post on May 20. If you are to purchase a Bored Ape worth 100 ETH and your wallet currently have 60 ETH worth of CryptoPunk and 40 ETH, you can exchange your NFT and ETH for the Bored Ape.

Sellers can put forth their "offers" of selling multiple ERC-20, ERC-721, or ERC-1155-based tokens while buyers need to "consider" their purchase. The entire process is automated and governed by Seaport.

"Every Seaport listing consists of the same basic structure, including an improved EIP-712 signature payload that clearly outlines what can be spent and what will be received back by whom," said OpenSea. EIP-712 standard allows wallets to display data in signing prompts in a structured and readable format.

Another important feature that the NFT marketplace will introduce is that users will be able to search NFTs by categories and features. If you want a smiling Bored Ape Yacht NFT, you can do so with this feature which will only show similing NFTs.

"Offerers can combine partial fills with criteria-based items to create standing offers to buy or sell multiple NFTs that all share a given characteristic," OpenSea said.

Tipping will also be introduced which will be accepted "as long as they do not 'tip' more than the original offer." Other functions introduced include “zones” and “channels” that improve the transaction process. This annoucement comes after the marketplace faced several hack attempts.