OpenSea Will Support NFTs on Arbitrum Nova

OpenSea added support for Arbitrum Nova’s sister Layer 2 scaling network called Arbitrum in September of 2022. The NFT platform will feature all collections from both Nova and Arbitrum, developed by Offchain Labs, on its website. OpenSea has included Arbitrum Nova among the blockchain networks it supports. The announcement reveals that the company is trying to expand its scope by supporting more NFTs.

Nova is a layer 2 blockchain designed to provide data availability at low cost. With OpenSea integrating NFTs into this blockchain, users will be able to access Nova as a cheaper option than Ethereum when buying or selling digital collectibles.

OpenSea announced last month that BNB Chain-based NFTs have started to be supported. The platform currently supports Ethereum, Solana, Polygon, Klatyn, Arbitrum, Optimism, Avalanche and BNB Chain. The new name included in the list was Arbitrum Nova.

What is Arbitrum Nova?

First announced earlier this year, Arbitrum Nova is a new chain primarily aimed at gaming and social apps, and is the first chain built using Arbitrum’s AnyTrust technology. This chain is geared towards high transaction volume projects looking for low cost and high security solutions. It also benefits from a Data Availability Committee, and its early members include important organizations such as ConsenSys, FTX, Google Cloud, Offchain Labs, P2P, Quicknode, and Reddit.

Instead of sending the incoming data to Ethereum, Arvitrum Nova sends it to this Committee, which approves and validates batches of transactions and then sends this “concentrated” data to Ethereum. The bulk of the transaction fees for rollups are usually data sending fees. Arbitrum Nova drastically reduces transaction fees as it sends data to this Committee, which means significant cost savings for users.

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