The NFT space is constantly updated with new features that benefit both the users and collectors. On October 5th, OpenSea announced on Twitter that users could list and purchase NFTs in bulk. Users can list and buy up to 30 digital collectable items in a single flow.
We’re officially live with bulk listing and buying! 🛒
You can now list and buy up to 30 items in a single flow on OpenSea.
Let’s walk through what this experience looks like in this 🧵— OpenSea (@opensea) October 5, 2022
Users can add 30 items from a chain to their cart for bulk buying. They can then finalize the purchase, and a single transaction will be carried out. This means collectors can access all the items they want in bulk, paying less for gas fees. It makes the process more streamlined and convenient because bulk purchase saves time and money.
The bulk listings in the collected items tab can be viewed by clicking on the ‘+’ symbol that becomes visible as you hover over an item. Then, you can click More Options in the drop-down box and choose the list for sale. Then, you can select a maximum of 30 items.
For bulk purchases, hover over the NFTs and click on Add to Cart. You can keep doing this to add up to 30 items to the cart. Once you finish shopping, you can open your wallet and pay for all 30 chosen NFTs at once. The maximum allowed limit is 30, but you can choose to buy fewer ones if you wish.
Previously, OpenSea enabled creators to launch their NFT collections on their personalized drop pages. This was introduced to improve the visibility and discoverability of NFT collections on the homepage of the marketplace. The new feature for bulk listing and buying will help NFT collectors use the platform effectively.
Last month, Warner Music Group (WMG) partnered with OpenSea to empower musical artists to create and extend music to their fans in the Web 3.0 community.
Even though the popularity of NFTs and Web3 is increasing rapidly, the volume of transactions on OpenSea is declining. On May 1st, OpenSea was processing $405.75 million transactions daily, but it went down to $5 million daily transactions on August 28th.
To retain an interest in the platform and to attract new users, OpenSea has been bringing up new innovations which will benefit NFT creators, buyers, and collectors. Bulk transactions greatly help reduce transaction costs and allow users to use the blockchain more effectively. The demand for doing more per transaction on the blockchain continues to increase, mainly because the energy consumption of blockchain is massive. Users can also quickly access their favorite collections at once with the bulk purchase option.
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