OpenSea NFT Marketplace Adds Bulk Purchase Feature, Details Here

OpenSea, the biggest NFT marketplace, is now allowing users to list and buy up to 30 digital collectibles in one go. In case of bulk buying, OpenSea will let buyers add up to 30 NFTs, built on the same blockchain, to their cart and finalise the transaction at once. This would not only make the purchase of multiple NFTs seamless, but will also significantly reduce the gas fees deducted on all transactions as a service charge.

For creators looking to list up to 30 NFTs at once will also be able to use this new feature on OpenSea.

The NFT marketplace, launched in December 2017, posted an official announcement on this bulk buy-and-sell feature on Twitter.

In recent times, OpenSea has seen sales volume on its platform nosedive amid market volatility.

According to crypto analytics community Dune data, OpenSea’s trading volume hit a peak of around $5.8 billion (roughly Rs. 46,408 crore) in January. However, trading on the platform saw a steady declined throughout the first two quarters of the year, sliding to $3.1 billion (roughly Rs. 24,805 crore) in May.

A separate analysis by Be[In]Crypto also reveals that Solana NFT volumes also saw a dip in June with sales volume figures of $91.52 million (roughly Rs. 732 crore) in June, down by 64 percent from $261.07 million (roughly Rs. 2,089 crore) in May 2022.

Amid dropping sales, OpenSea has been adding a bunch of new features on the platform.

Earlier in September, the NFT marketplace began ranking digital collectibles on the basis of their rarity. Named OpenRarity, this feature will enable collectors to find legitimately rare digital collectibles, that have been drowning in the sea of NFTs out there.

The NFT market will be a $231 billion (roughly Rs. 18,41,300 crore) behemoth by 2030 and it’s too big a business to be ignored, believes, Tarusha Mittal, COO and co-founder of UniFarm said in conversation with Gadgets 360. UniFarm is a multi-token reward staking programme.