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OpenSea unlocks the possibility to provide listings and bulk NFT purchases

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OpenSea, the largest marketplace for non-fungible tokens (NFTs) and crypto holdings, has announced that it will allow users to make bulk listings and purchases through a single stream.

OpenSea launches listings and group purchases for NFT

The OpenSea digital market is facing competition after the emergence of several NFT platforms seeking to attract users in the growing market. The company published several Tweets On October 5, it said it would allow users on the platform to bulk list and purchase up to 30 collectible digital items through a single stream.

For bulk purchase, users will have to add a maximum of 30 items from the same series to their cart before completing their purchase with a single transaction. The changes are expected to reduce costs associated with gas charges while making the process user-friendly and more convenient.

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Furthermore, aggregate listings will also be available with a single click, whereby sellers can select and list up to 30 items at a time. Users can create these grouped lists on the grouped items icon.

On the Bulk Items tab, you can access aggregated listings by clicking the “+” icon when you hover over an item card or by clicking List for Sale in the More Options dropdown menu. You will then be able to select up to 30 items to be included once,” the company explained.

OpenSea launched a series of new features

As mentioned earlier, the OpenSea market is facing increasing competition from other platforms. In September, the platform unveiled a new immersive project aimed at creators. The initiative sought to allow creators to release their own NFT collections through custom and customizable drop pages.

The goal of the project is that it will support greater visibility and facilitate market discovery on the new marketplace homepage. The initiative aims to make the marketplace user-friendly for creators.

During the same month, Warner Music Group, a global music entertainment company, revealed a partnership with OpenSea to launch a platform where selected artists can create and expand their music fan base within the Web3 community.

The changes to OpenSea come in recent weeks when platform volumes have been in a sharp downtrend. OpenSea has posted significant declines in daily and monthly transactions.

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The number of transactions processed by the network has also decreased in recent months. On May 1, the platform was processing $405.75 million in transactions, but that has since fallen to $5 million in NFT transactions on August 28. The declining volumes on OpenSea come at a time when the minimum prices of various cryptocurrencies have fallen.

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Ethereum developers target March 2023 for Shanghai hard fork

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according to Discussion At the 151st Ethereum Core Developers meeting on December 8, core programmers set an initial March 2023 deadline for Ethereum’s Shanghai hard fork. Additionally, developers will aim in May or June 2023 to release Ethereum Improvement Protocol (EIP) upgrade 4844 that will provide initial network participation.

Although the long-awaited Proof-of-Stake merger upgrade was completed on September 15, Ether (stETH) is currently in the works. Locked on the Ethereum Beacon Signal Chain. The token was created by decentralized finance protocol Lido, with approximately 3.5 million stETH ($4.48 billion) in circulation. After the Shanghai upgrade, stETH users can withdraw their funds along with any applicable staking rewards to validate network transactions. The Ethereum Foundation said it organized the upgrades in this way to “simplify and increase focus on a successful transition to Proof of Stake.”

After the hard fork, the EIP-4844 upgrade is designed to introduce a new binary data transaction prototype previously invented by the developers on February 21, 2022. Currently, Layer 2 technologies such as Optimistic Rollups can move Ethereum computation and network storage off-chain to improve scalability 10x to 100x . The developers expect that offering large mobile packages that can hold cheaper data in Ethereum transactions could improve pooling capacity by up to 100x. However, while the upgrade will lower transaction fees on Layer 2 solutions, it will not affect Ethereum gas fees.

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Last December, Ethereum co-founder Vitalik Buterin shared just that game over It is for the blockchain to function as a simple base layer, with “the complete convenience of users storing their assets in ZK.” [zero knowledge]Verify full EVM operation [Ethereum Virtual Machine]. Buterin also warned that hash sampling and data availability are “complex techniques” that will take years of scrutiny and improvement to implement.