OpenSea announces support for Arbitrum Nova to expand NFT market reach

OpenSea announces support for Arbitrum Nova to expand NFT market reach

OpenSea recently announced support for a new crypto-focused blockchain network Arbitrum Nova. The support will see OpenSea join the Data Availability Committee to provide data support. 

OpenSea endorses Arbitrum’s Nova

On their Twitter page, OpenSea tweeted just recently that they now support a new network called Arbitrum Nova. The tweet read:

Arbitrum Nova is a network created by Off-Chain labs and is also the sister platform to the popular layer two solution Arbitrum. The Arbitrum Nova platform is famous for social activities and general gaming support.

The entire idea of Nova’s creation was to bring more access to data while offering reasonable pricing. Reports indicate that Nova was built explicitly for high-volume transactions and some price-sensitive requirements. Among them include games, new products, and even applications. The popular Reddit Community points are supposed to be based on Nova.

Further reports from OpenSea’s tweet indicate that the marketplace will join the “Data Availability Committee to provide access to on-chain data and help ensure data accuracy.” This addition will help offer onchain internet access while ensuring data integrity.

Streamlining things for artists and communities

The partnership between Arbitrum and OpenSea opens many possibilities that artists and the community can explore. Offering a more price-favorable network for digital trading assets helps artists market their works globally. The collectors can also multiply their collections with utmost ease.

The OpenSea partnership with Arbitrum will make the Nova readily available to its users. Users can identify Nova collections by seeing an Arbitrum Nova classification recorded on the asset collection page. Users must connect their wallets before making any sales or purchases of NFTs on this platform.

The romance between OpenSea and Arbitrum began last September when the marketplace added support for the layer two scaling network Arbitrum. The Layer 2 solution claimed the capacity to offer more friendly NFT services compared to Ethereum. 

Based on reports, Nova is a more advanced host for the collectibles when compared to its sister Arbitrum. Other top networks, including ToFu, Trove, and Babylonians, already support Nova.

Arbitrum was delighted with their endorsement from Opensea based on reports. They tweeted that they are happy to announce the Opensea support for Nova. Arbitrum is vastly interested in improving smart contracts’ sturdiness and effectiveness. Moreover, through Nova, Arbitrum offers more privacy protection. 

Confidence on Nova

Arbitrum, the layer two solution, is among the most significant DeFi projects, according to reports. It has a current total value locked amounting to $1.02 billion. According to reports, this sister Nova’s TVL is yet to crack $1 million. Despite being very small compared to other networks, Nova is already receiving attention from top players like OpenSea. 

In fact, under OpenSea’s announcement tweet, several responses indicated high community confidence. One user called 6Foot4honda noted that Nova got them excited. Based on DeFillama charts, Arbitrum Nova’s TVL has been growing over the recent past, increasing by over 2% in the past 24 hours.  

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