This means that artwork minted on Base’s network can now be bought and sold on OpenSea, and the market leading NFT platform’s NFT-related toolkit will now be able to mint assets on Base’s extended network.
OpenSea now supports the @BuildOnBase network! pic.twitter.com/iptsyajmV1
— OpenSea (@opensea) August 3, 2023
OpenSea has been a mainstay of the NFT industry, historically accounting for the majority of organic NFT transaction volume. Although it was overtaken by rival Blur earlier this year and its encrypted trading offers, with its reputation, Opensea remains the top NFT platform of choice for traders.
The Layer 2 Network from Coinbase has announced that the launch of the common access mainnet will take place on August 9.
Base says its network will host more than 50 “top brands, platforms, markets, artists and creators” at launch, including Coca-Cola, Atari and OpenSea. The team will also celebrate the launch with the “Onchain Summer” campaign, which includes daily NFT rewards for users.
The memecoin transaction boom propelled Base to 3rd place in the most active Layer 2, processing almost 7.6 transactions per second (TPS). However, a series of drag disasters – including from the network’s top memecoin, BALD – have since caused activity to drop, with Base now ranked eighth with an average TPS of 2.2 over the past day.
LeetSwap, the network’s most popular DEX, also briefly halted trading after losing $625,000 in a single mine on Tuesday, causing volumes on the network to continue to decline.
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