Seaport 1.6 is the latest version of NFT’s marketplace protocol, released by OpenSea in collaboration with the Seaport Working Group.
‘Seaport hooks,’ a new feature of the upgradeThe. is modelled around Uniswap v4 hooks. Using this feature, developers can create more applications to increase NFTs’ utility and liquidity. As order-fulfillment plug-ins, these hooks make it easy for developers to incorporate custom contracts in the Seaport Protocol.
Version 1.6, compared to Seaport 1.5 leverages Ethereum’s Dencun latest update. The platform claims that users can benefit from a reduction of 5% in the gas fee for certain transactions. The announcement states that major EVM chain companies are already using the deployment.
Seaport can deploy and execute contracts using the Seaport Hooks functionality, which ensures an efficient and smooth order-execution process. The NFTs can adapt to the purchase conditions, such as price or volume. They may also be obtained in specific currencies and other NFTs. This allows the creation of bonding and price oracles.
OpenSea will move all user orders over to Seaport 1.6 starting Monday, the 25th of March. This method does not require user interaction. OpenSea API is only accepting Seaport 1.5 orders as of April 1st. Seaport 1.5 is being phased out.
OpenSea also mentioned that integration of the seaport hooks would allow NFT to gain access to liquidity through various sources on-chain. This integration will broaden DeFi and NFT’s interoperability by introducing features like time-weighted oracles (TWAP).
“Hooks and the broader Seaport ecosystem are an invitation to the developer and creator community to push the envelope for what’s possible for NFTs, and, ideally, to enable those experiences to be natively surfaced,” Opensea published a letter in the Official announcement.
Update comes at a moment when NFT numbers are experiencing a drop. Cryptoslam released data on 6 March. revealed OpenSea is now ranked fourth on the NFT market list. OpenSea’s average digital collectible price also dropped by as much as 22.22 percent at the publication of this report.
The price of Ethereum NFTs is up, while the Bitcoin ordinals have seen an increase. significant drop In recent months, there have been many changes.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: crypto.news