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OpenSea was built on the Wyvern Protocol, an open-source protocol powering the peer-to-peer exchange of virtual assets. This protocol operates as a set of smart contracts on the Ethereum blockchain.
These smart contracts form the basis of processing transactions protecting users’ NFTs. OpenSea focuses on adapting to more interoperable blockchains to allow for easier, faster, and more flexible transactions. In addition to ERC-721 and ERC-1155 Ethereum standards, OpenSea has integrated protocols for other blockchains such as Solana, Polygon, and Klaytn. In a June 2022 blog post, OpenSea said it would be moving to its own protocol—Seaport—in a bid to reduce transaction fees.
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