OpenSea Announces It Will Support NFT Collections On BNB Chain

OpenSea Announces It Will Support NFT Collections On BNB Chain

OpenSea has announced that it will support non-fungible tokens (NFTs) on the BNB Chain blockchain.

The company announced on Twitter that collections such as Goodfellas NFT and Pixelsweeper on BNB Chain can now be traded on OpenSea, the largest NFT marketplace in the world. 

OpenSea Announces BNB Chain Integration

OpenSea has included BNB Chain among the blockchains it supports. The announcement reveals that the company is trying to expand its scope by supporting a wider range of NFTs created on various blockchains. 

“Every BNB Chian NFT collection with a transaction that took place after Jan 1, 2022 will be available on OpenSea. We will continue to backfill historic data,” OpenSea said. “We’re thrilled to bring the BNB community into OpenSea! We can’t wait to see what you all build.”

OpenSea announced last month that Avalanche-based NFTs are now supported. The platform currently supports Ethereum, Solana, Polygon, Klatyn, Arbitrum, Optimism, Avalanche and BNB Chain.

The official Twitter account of BNB Chain also confirmed the news. The company said:

“BNB Chain NFTs will now be available for listing and sale on OpenSea. The move will enhance NFT trading experience for over 1 million existing users. The integration with OpenSea’s standard core marketplace will enable BNB Chain support for creators to buy and list NFTs.”

Prior to this, users were only able to view BNB Chain NFTs on Binance’s NFT marketplace, in addition to a handful of lesser-known marketplaces, posing an interoperability issue to end users. 

The move could also allow BNB Chain to compete with ethereum, the leading blockchain for NFT market share, as it represents a cheaper alternative in terms of the amount of gas required to mint an NFT. 

The ERC-721 non-pecuniary standard adopted by Ethereum can cost users tens of dollars in printing fees; this fee represents the payment to the blockchain to facilitate the printing process.

The BNB ecosystem already supports more than 1,300 dapps across multiple categories, including decentralized finance (DeFi), metaverse, blockchain gaming, and NFTs. Last month, it launched a $10 million fund to spur growth in the blockchain.

The largest NFT marketplace recently announced that it is collaborating with Warner Music Group.

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