OpenSea to support more blockchains in the future, here are the details! The OpenSea team may have just hinted at their plans of adding more blockchains to their platform soon!
More Blockchains Being Added
On September 12th, the OpenSea team posted a thread on their official Twitter account talking about the team’s plan to build their platform and marketplace so that more people all over the world will be able to access and use it. Aside from that, they also mention that more details on the steps they will take to assure this will be announced in the coming weeks.
4/ There’s so much more to come, and we’re glad you’re on this journey with us. We know it’s important for us to provide context where we can, and we hope you’ll stay tuned! 🌊💙
— OpenSea (@opensea) September 13, 2022
Through their Twitter thread, many in the community are sure that OpenSea are planning to add many more blockchains to their platform aside from the current Ethereum and Solana NFTs that dominate the platform.
“While we’re excited about the chains we currently support on OpenSea, it’s important that people have even more choice when navigating the NFT ecosystem,” their thread read, “We’ll start building this future by making OpenSea a place where more people can use the chains they prefer.“
OpenSea’s Trading Volume
Despite having been a mostly Ethereum-based NFT Marketplace for the longest time, it seems that OpenSea is looking to change its platform to become more inclusive to other blockchains and open up its opportunity.
This may be due to the fact that OpenSea has been seeing its trading volume fall by a considerable amount this year in comparison to trading volumes it saw last year. In fact, data shows that this August, OpenSea only saw $5 million in transactions compared to the $405 million it saw on May of 2021, a 99% drop.
With many new NFT Marketplaces being made and already prominent marketplaces like Magic Eden rushing to compete with OpenSea, the platform needs to make some massive changes to stay on top.