Popular NFT marketplace OpenSea has launched a new feature dubbed Deals to allow traders on the platform to exchange their NFTs with each other. The new peer-to-peer (P2P) feature aims to help collectors engage with other traders directly, encourage more users to join NFT communities by simplifying the swapping process, and make the NFT swapping trustworthy. The Deals function was built on OpenSea's native NFT protocol Seaport. - Users can also include Wrapped Ether (WETH) in their deals to make them more attractive.
- To use the function, traders need to enter the username, ENS name, or wallet address of the person they want to make a deal with.
- Then, they can choose up to 30 NFTs and add the amount of WETH if they want to include any.
- The process is followed by the selection of the assets to be offered to trade, and then the deal can be sent to the other party for consideration.
- NFTs to be traded must be on the same blockchain and from verified collections on both sides of the deal.
- OpenSea currently charges no fee for the feature on its own account or for the creator royalties, though the users need to pay gas fees for the transfers once the deal is accepted.
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