OpenSea adds support for Zora’s layer-2 network
Leading non-fungible token (NFT) marketplace OpenSea has announced its partnership with Zora, an NFT minting platform with an Ethereum layer-2 scaling network. This alliance promises to speed up and decrease the costs of minting on-chain artwork. Both firms revealed the collaboration on Friday.
OpenSea, among others, shows support for Zora
The alliance with OpenSea allows for the trade and minting of NFTs created on Zora’s network. Additionally, OpenSea’s wide array of NFT-related tools will also be available on Zora. Over 45 NFT platforms, including Sound.xyz, now support the burgeoning Zora network.
Founded in 2020, Zora initially provided artists with the infrastructure to sell digital tokens linked to physical artwork and items. It has since transitioned towards an open-source protocol enabling users to mint and sell NFTs. Additionally, it allows for the creation of specialized NFT marketplaces.
Last month, Zora transitioned from the Ethereum mainnet to Optimism, one of the most prominent layer-2 scaling solutions, making minting an impressive 25 times cheaper. During an interview, Jacob Horne, CEO and co-founder of Zora, stated:
“L2s have been around for a year now—mainnet Optimism has existed, Arbitrum has existed—but have skewed towards DeFi and a financial use case. I think the ecosystem and the market is ready for a network that’s purpose-built for art and media, and really leaning into all the interesting experimental things you can do when you have a network like that.”
Impressive numbers amidst NFT market lows
Zora’s new network, launched just two weeks ago, has already shown promising signs of success despite the current state of the NFT market. The company reported that it had facilitated more than 70,000 mints and successfully onboarded over 50,000 collectors onto its network.
OpenSea’s partnership with Zora thus represents a significant boost for the NFT community, providing a platform designed explicitly for art and media while also easing the minting process for artists worldwide.
