Newsletter #152: Seaport Hooks
Unlocking New Horizons for NFTs with Hooks
This week’s featured collector is Domi
Domi is a seasoned NFT collector who has been passionate about crypto since 2016, amassing a diverse portfolio that includes a Mutant Ape from the original minting, a V1 CryptoPunk, a mfer, and iconic Mog and Pepe pieces. They have a special admiration for Jack Butcher's works, crediting the artist for helping them navigate the challenges of the bear market. Check it out at lazy.com/domi
The results of last week’s poll: How will the USPTO/USCO report impact your NFT collecting?
The recent USPTO/USCO report is poised to shake up the world of NFT collecting, according to last week’s poll. A substantial 38% of Lazy.com users surveyed plan to focus their efforts on projects with crystal-clear IP agreements, while an equal 30% will either dive in with greater confidence or put NFT offerings under the microscope to ensure IP rights are properly handled. Interestingly, nearly a quarter of respondents seem unfazed, suggesting they already perform their due diligence on terms before buying.
This poll paints a picture of an NFT collector community that is increasingly savvy and cautious when it comes to navigating the complex landscape of digital ownership rights. The USPTO/USCO report appears to be a wake-up call, prompting collectors to prioritize transparency and legal clarity as they build their virtual collections.
As the NFT market continues to mature, we can expect to see a growing emphasis on projects that have their intellectual property ducks in a row. Collectors are wisely recognizing that a shiny new NFT may lose its luster if the underlying IP rights are murky or contested. This shift towards greater scrutiny and higher standards bodes well for the long-term health and legitimacy of the NFT ecosystem..
Seaport 1.6: Unlocking New Horizons for NFTs with Hooks
This week, OpenSea announced the launch of Seaport 1.6, an upgrade to their NFT marketplace protocol within the EVM ecosystem. This update brings a new feature called Seaport Hooks, which allows developers to integrate custom code into Seaport sales, potentially expanding the utility and liquidity of NFTs.
For NFT collectors, Seaport Hooks opens up new possibilities for how NFTs can interact with the broader ecosystem. This includes the ability for NFTs to react to being sold, such as changing metadata based on sale volume. Additionally, the upgrade enables greater composability between the DeFi and NFT worlds, allowing for the creation of automated bonding curves and the integration of lending protocols.
The recent Ethereum Dencun upgrade has made these interactions more cost-effective, setting the stage for increased development and innovation within the NFT space.
OpenSea plans to migrate its users to Seaport 1.6 starting March 25th, with the first feature leveraging hooks expected to go live in April. As the NFT ecosystem continues to evolve, collectors can expect to see new applications and experiences emerge, driven by the enhanced capabilities of Seaport 1.6.
While the potential impact of Seaport Hooks is significant, it remains to be seen how developers and creators will utilize this new tool and how it will shape the future of NFTs. Nonetheless, the upgrade represents an important step forward in the ongoing development and maturation of the NFT market, providing collectors with new opportunities to engage with and benefit from their digital assets.
This week’s poll: How will Seaport 1.6 impact your NFT strategy?
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