Largest NFT platform OpenSea has successfully migrated all of its active listings to a new smart contract
- OpenSea migration completed successfully
- Despite Pullback, OpenSea Processed Over $3.7 Billion in February
OpenSea, a top platform for trading non-fungible tokens, has moved its clients’ content to an advanced smart contract architecture.
OpenSea migration completed successfully
OpenSea, the largest Ethereum-based decentralized application, announced yesterday on February 25, that its mechanism has been migrated to an advanced smart contract.
Our contract upgrade is complete, and the site is now fully functional. All immigrant listings on the old contract have now expired. To relist at no cost, go to the Relisting tab in your profile.
— opensea (@opensea) February 25, 2022
All NFT owners who are interested in the availability of their tokens on the platform can re-list their NFTs at no cost.
The “Unmigrated” listing has expired and will no longer be supported. The migration was opened on 18-25 February.
As OpenSea migrated to the updated Wyvern smart contract and got rid of its inactive listings, the platform can now roll out new features including more descriptive signing and bulk cancellation.
Despite Pullback, OpenSea Processed Over $3.7 Billion in February
The new Wyvern 2.3 contract uses the EIP-712 standard; This significantly reduces the chances of phishing scams.
As previously covered by U.Today, OpenSea’s NFT owners were recently targeted by the largest phishing scam campaign in the history of the NFT segment.
Seventeen top-profile NFT enthusiasts transferred their assets to scammers via malicious smart contracts. Net loss exceeded $1.7 billion as scammers stole several expensive NFTs from BAYC and Azuki Collections.
OpenSea is the largest NFT marketplace and the most popular Ethereum-based decentralized application. It has a daily user count of over 50,000; Over the past 30 days, its trading volume in NFTs has exceeded $3.7 billion, despite a significant drop in interest.