Polygon comes to Opensea, the largest NFT marketplace - here is what to expect

Here comes one hell of a crossover! Polygon, the layer two scaling solution, has been integrated into OpenSea's Seaport protocol implementation.

Now there will be "a more stable buying and selling experience that rivals other chains."

Starting today, we will begin using Seaport for all new listings and offers on Polygon! We’re excited to start using Seaport across multiple blockchains to improve the experience for everyone on OpenSea.

Here’s what you can expect with this move to Seaport ↯

— OpenSea (@opensea) August 30, 2022

"After several months of observing Seaport's impact and collecting valuable feedback, we're excited to introduce Polygon support," OpenSea said in a blog post.

OpenSea will soon add support for Klaytn and other EVM-compatible chains as well.

With the integration, there will be so many new features on Polygon:

• Ability to use Polygon's native token, MATIC, to list and transact on OpenSea.

• Collection and attribute offers

• Payout addresses can now be multiple and up to 4.

• English and Dutch auctions

• Bulk transfers

• No listing thresholds - the $5 minimum threshold has been reduced further to $1.‏

According to the marketplace, anyone transacting on Polygon using OpenSea will now be required to pay for their own gas fees for transacting using $MATIC.

For users to save 35% in gas fees, Opensea shifted fromWyvern protocol to Seaport. Seaport is a Web3 marketplace protocol audited by Web3 security firms OpenZeppelin and Trail of Bits. The protocol is designed for safely and efficiently buying and selling NFTs.

South Korean City Busan partners with FTX to develop a blockchain zone

The second largest city in South Korea, Busan, has struck a deal with the cryptocurrency exchange FTX to launch blockchain-based enterprises and foster blockchain development in the city.

This move aligns with the city's overarching aim to establish itself as a significant financial and blockchain hub.

According to a press statement issued by the Busan Metropolitan City department on Tuesday morning, Busan City and FTX will collaborate to create the Busan Digital Asset Exchange, promote various blockchain-focused enterprises, and build new blockchain startups.

Busan's special zone has already developed several blockchain-based products and applications for the general public. These include the Citizen Safety Report, B Pass, a blockchain-based ID service, Busan Digital Voucher, a programme that boosts local money circulation, and B-Fresh, a seafood logistics business.

Reddit Co-Founder Ohanian's Firm to invest $177M in Crypto

Alexis Ohanian's Seven Seven Six firm is now back with a new crypto fund.The firm plans to raise $177.60 million for Kryptós.

In this brand-new cryptocurrency-focused fund, it buys popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) at a discount, citing current market conditions.

When Kryptós launches in October, it will charge investors a 2.5% management fee and provide a universal 25% profit-sharing plan. The dividend increases to 35% if the fund doubles in size to five times its current level.

"This is the best time to buy if you're really long on the industry. It's on sale. Everything is on sale," said Katelin Holloway, Founding Partner at Seven Seven Six.

Since its founding in 2020, the firm has managed more than $750 million raised across three distinct funds.