OpenSea, a leading NFT marketplace, has announced the addition of Arbitrum, a layer-2 Ethereum scaling solution. Arbitrum will join four existing networks on the market after a successful deployment tomorrow: Ethereum, Solana, Polygon, and Klaytn.
Arbitrum will be launched on September 21 by OpenSea, joining the four existing chains on the marketplace
Popular NFT collections Smolverse, GMX Blueberry Club, and Diamond Pepes were among the first to be uploaded to the marketplace, according to OpenSea.
“Creators will need to find their collections in OpenSea and set their creator fees directly,” the company advised, ideally at the time of launch. The integration occurs during a moderate monthly trading volume on OpenSea, which has not been seen since last summer.
To put this in context, this month’s figures pale compared to the all-time highs of $4.8 billion in January of this year. Other marketplaces, including LooksRare, Rarible, SuperRare, and Magic Eden, have experienced a similar cyclical decline.
Arbitrum NFT activity
Most NFTs on Arbitrum are traded on smaller exchanges like Stratos and Agora. However, according to DeFI Llama data, the network’s most popular collections have already attracted millions of dollars in investment.
The total trading volume for the Seed of Life collection is $11.79 million, while Legions Genesis has facilitated $11.25 million across the PancakeSwap and Treasure marketplaces. Volumes could increase if these collections are integrated with OpenSea.
On September 21 at 6 p.m. UTC, Arbtrum will host a Twitter Spaces to discuss the partnership in greater detail and the opportunities for creators and collectors in the space on both sides of the chain.