OpenSea, the famous non-fungible token (NFT) and digital collectibles marketplace has started to support the Arbitrum Nova blockchain.
The announcement was made on OpenSea’s official Twitter account. OpenSea also announced that it will join the DAC (data availability committee) in an effort of strengthening the ecosystem of Nova by enabling access to data from the chain and making sure that data is accurate.
Arbitrum Nova is a L2 (layer-2) blockchain meant to offer data availability with low costs. Once OpenSea starts to integrate non-fungible tokens on the Arbitrum Nova blockchain, end-users can leverage Nova as an Ethereum alternative which is also supposedly cheaper for acquiring or selling NFTs and digital collectibles.
Arbitrum, Nova’s L2 scaling network sister, received support from OpenSea starting with September 2022. Offchain Labas is the designer of both Arbitrum and Arbitrum Nova. According to OpenSea, Arbitrum collections on OpenSea’s website will be paired with Armitrum Nova NFT collections. Nova has more NFT marketplaces besides OpenSea, including smaller OpenSea competitors such as TreasureDAO’s Trove, ToFu, and Babylons. Reddit and its community point tokens are hosted by Nova as well.
However, it will still take some time before we can say that Nova reaches a phase of mass adoption, as the blockchain still works to become widely used. As stated by Defillama data that analyses the usage of Arbitrum Nova, the layer 2 blockchan currently has close to USD 890k in TVL (total value locked).