Unifred Unifred 21.07.2023

OpenSea Introduces P2P NFT Swaps Feature 'Deals'

Prominent NFT marketplace OpenSea has recently announced the launch of 'Deals,' a new P2P NFT swaps feature that allows users to exchange their digital collectibles directly with each other. 

In recent times, collectors are able to offer their NFTs in return for someone else’s. Besides, they can also add some WETH to the offer, making the process sweeter with this move. 

Powered by OpenSea’s native NFT protocol Seaport, this brand-new feature is believed to make NFT swapping more trustworthy, thereby eliminating activities such as sketchy DMs. Instead, collectors can offer, view, and accept deals directly on the marketplace. Moreover, this feature makes it possible for collectors to swap multiple low-value NFTs for a single high-value NFT.

To swap on Deals, collectors need to connect their wallet and then search the username, or ENS name of the person they want to make a deal with. The next step after identifying the person is to select an NFT a collector wishes to trade and choose one he desires from the other party. It’s also worth noting that the gas fee is on the user accepting the Deal. Currently, there is a requirement from OpenSea that NFTs from both sides of the deal must be on the same chain and from verified collections.

The launch of Deals demonstrates OpenSea's commitment to providing a better and enhanced experience for NFT collectors and continuing its development despite the decadence of the non-fungible market. The new feature is also expected to attract more people to join the NFT community by making the swapping process simple.