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Opensea Phases Out BNB Smart Chain Support, Citing Resource Alignment With Promising Efforts

Opensea Phases Out BNB Smart Chain Support, Citing Resource Alignment With Promising Efforts

One of the largest non-fungible token (NFT) platforms, Opensea, has declared its decision to withdraw BNB Smart Chain (BSC) support. Opensea revealed that the “cost to continue supporting BSC outweighs the impact.”

Opensea Pivots Away From BNB Smart Chain in Strategy Re-evaluation

On August 18, 2023, Opensea proclaimed that they would cease BSC support after incorporating multiple blockchains over recent years. This announcement coincides with Opensea’s strategy to phase out the enforcement of NFT royalties. Concerning BSC support, Opensea stated that as the industry advances, the company needs to “align resources with the most promising efforts.”

“We’ve decided the cost to continue supporting BSC outweighs the impact,” Opensea said. “Starting today, you will no longer be able to create new listings for or make new offers on BSC NFTs. However, you will still be able to view, discover, and transfer BSC NFTs on our site.”

In response to Opensea’s X thread publication, some individuals claimed they were unaware of BSC support’s existence. Others seized this chance to voice their grievances about the royalty ruling. One individual commented, “IDK what kind of system you guys are running over there but it’s not that expensive to run BSC if you do it right.”

Opensea concluded by asserting their continued optimism regarding a multi-chain future and shared that they recently added support for layer two (L2) blockchains Base and Zora. “We’re confident this decision will help us direct resources to keep pace with the rapid innovation in our ecosystem,” added Opensea.

What do you think about Opensea dropping BSC support? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/cyRHj9x

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