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NFT Market NFT REVIEW NEWS Zora and OpenSea Unite to Magnify the NFT Art World

Zora — the NFT minting platform that recently debuted its own Ethereum Layer-2 scaling network for economic artwork minting on-chain — is delving deeper into the NFT art world by garnering the support of the one and only OpenSea.

By shaking hands with OpenSea, Zora enables its digital artworks to pirouette across the digital auction floor of one of the world’s most bustling secondary marketplaces, magnifying the art world’s contemporary evolution.

On the flip side of this blockchain-borne synergy, OpenSea unlocks a new ability to craft NFTs in a single bundle for smooth transitions with cheaper transaction fees, enhancing user experience.

Zora’s Art Minting Era

Zora opened its platform in 2020, primarily focusing on musicians selling NFTs tied to tangible assets. The platform then pivoted to Optimism’s Layer 2 protocol on June 25, 2023, to empower NFT marketplaces to merge several transactions into one in order to minimize data processing loads — all of which was made possible following a $50 million funding round from Haun Ventures. 

By freeing up space, the platform reduces transaction fees by 25% when compared to Ethereum, maximizing user convenience and attracting numerous renowned platforms on-chain as a consequence: Thirdweb, Sound.xyz, and Rainbow Wallet, to name a few. 

The platform’s competence to attract notable projects speaks volumes about its potential and influence in the Web3 realm. With ambitious plans to found a DAO for open access, Zora is primed to continue being an influential entity in the NFT art world.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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