Tuesday, December 6, 2022
HomeNFTNFT marketplace OpenSea all set to support its NFT token-Avalanche

NFT marketplace OpenSea all set to support its NFT token-Avalanche

As per the media reports on October 11th, OpenSea, the biggest NFT marketplace in the world, issues support for its own token, Avalanche. OpenSea announced via twitter that its token Avalanche has gone online, and joined the ranks of other cryptocurrencies like Ethereum, Solana, Polygon, Arbitrum, Klaytn, and Optimism.

The non-fungible token (NFT) industry is currently flourishing as strongly as it ever has, particularly on OpenSea, making this a significant step for Avalanche. In point of fact, the online marketplace recorded a total volume of around $350 million in Ethereum NFT trades in the month of September 2022.

OpenSea also made the announcement that it would be onboarding a number of the largest and most popular collections from Avalanche’s ecosystem. These collections include Chikn, TapTapKaboom, The Stoics, Castle Crush, and OpenBlox, among others.

A fictional cryptocurrency with the name of AVAX is featured on the Avalanche network, which is itself a large and well-known open-source platform. C-Chain is one of the three distinct blockchains that make up the overall project, which comprises all three of them. This is a blockchain that has been designed to be compatible with the smart contracts that are utilised by non-fungible tokens, which are powered by Ethereum. On the other hand, this is not the only one of the three chains that can handle NFTs; Avalanche’s X-Chain is also capable of hosting these types of transactions.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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