Largest NFT platform OpenSea successfully moved all of its active listings to new smart contract
OpenSea, a leading platform for trading non-fungible tokens, has moved its client content to an improved smart contract architecture.
OpenSea migration completed successfully
The largest Ethereum-based decentralized application OpenSea announced yesterday, Feb. 25, that its mechanisms are moved to the upgraded smart contract.
All NFT owners interested in having their tokens available on the platform can re-list their NFTs free of charge.
“Unmigrated” listings have expired and will not be supported any longer. Migration was opened on Feb. 18-25.
While OpenSea has migrated to the updated Wyvern smart contract and got rid of its inactive listings, the platform can now roll out new features including more descriptive signatures and bulk cancellation.
Despite the pullback, OpenSea processed over $3.7 billion in February
The new Wyvern 2.3 contract utilizes EIP-712 standard; its significantly reduces opportunities for phishing scams.
As previously reported by U.Today, OpenSea NFT owners have recently been targeted by the largest phishing scam campaign in the history of the NFT segment.
Seventeen top-profile NFT enthusiasts transferred their assets to scammers through malicious smart contracts. Net losses surpassed $1.7 billion as scammers stole a number of expensive NFTs from the BAYC and Azuki collections.
OpenSea is the largest NFT market and the most popular Ethereum-based decentralized application. Its number of daily users exceeds 50,000; in the past 30 days, its trading volume exceeded $3.7 billion despite a significant decline in interest in NFTs.
