OpenSea announces support for Arbitrum Nova

Arbitrum Nova is now supported by OpenSea, the largest marketplace for non-fungible tokens and digital collectibles. OpenSea will also join DAC, short for Data Availability Committee, to provide access to on-chain data and improve data accuracy.

The new outcome of the partnership where OpenSea integrates with NFT makes Nova easily available to the users. Furthermore, users can easily access Nova at a much more affordable and cheaper price while buying and selling digital collectibles.

The development has made Arbitrum Nova a cheaper option to access the available data and buy-sell digital collectibles. This follows the addition of support for Arbtirum, a Layer-2 scaling network designed by Off-chain Labs, in September 2022.

Arbitrum and Nova collections will be grouped together on the website of OpenSea. Nova is also supported by other networks like Trove, ToFu, and Babylons. It hosts Reddit’s community point tokens as well.

Arbitrum has re-tweeted the announcement saying that it is happy to be supported on OpenSea, adding that the future of social and gaming is here. Arbitrum further said that OpenSea would add Data Availability Committee to help grow the data infrastructure of Aribitrum.

It is important for users to connect their wallets before buying and selling NFTs on the platform. Users who already have a wallet can directly proceed with setting up the accounts. Users who do not have a wallet may choose a provider from the list on the website.

It can be said that there is still room for a lot of adoption and improvement. This is because OpenSea has to be widely achieved by users. Furthermore, as per Defillama’s data on Arbitrum Nova usage data, presently, it holds $890,000 TVL.

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NFTs were initially set up to support artists in the digital era. However, partnerships like OpenSea and Arbitrum Nova show a lot of depth in the segment, which can be explored to the advantage of artists and the community. A cheaper alternative to trading digital collectibles helps artists get their work out globally, and collectors can expand their collections easily.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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