OpenSea and the Seaport Working Group are excited to launch Seaport 1.6 - the latest generation and most advanced NFT marketplace protocol in the EVM ecosystem.
Seaport 1.6 introduces a new feature enabled by the recent Ethereum Dencun upgrade called Seaport hooks🪝. Seaport Hooks are similar in spirit to Uniswap v4 hooks, allowing developers to build applications that greatly expand the utility and liquidity of NFTs.
What are Seaport hooks?
Seaport hooks allow developers to deploy arbitrary contracts that can be statefully called by Seaport during the fulfillment of a Seaport order - kind of like a "plugin" built on top of Seaport.
Seaport’s technical documentation goes into more detail, but in short, it means that developers can “insert” arbitrary code into the middle of anything Seaport sells.
What can be built with it?
Seaport is ultimately a protocol for peer-to-peer on-chain settlement of commodity sales, and a lot of interesting things become possible when you can write smart contracts that “react” to those sales — especially if those smart contracts are NFTs themselves.
We’re building some products on OpenSea based on Seaport hooks that we’re excited to share soon, but Seaport is more than just OpenSea, it’s a public product and superstructure designed to enable innovation from the broader community, here are some cool ideas we think are worth exploring.
Now, sales can source their liquidity from anywhere on-chain (not just the buyer and seller’s wallets) - whether it’s the item being purchased or the payment being provided, which means the DeFi world is much more composable with the NFT world: automated bonding curves for NFTs can be built, and loan protocols can be bought and sold directly on the Seaport marketplace.
Additionally, salespeople can now notify NFTs directly of sales as they occur, meaning NFTs can now be programmed to “react” to sales under certain conditions — for example by changing metadata based on sales volume.
Price oracles (a staple of DeFi, allowing some of the most important protocols to run) are also becoming more viable for NFTs, allowing for time-weighted average price (TWAP) oracles.
But the coolest applications are almost certainly ones we haven’t thought of yet - if you’re building something interesting on Seaport Hooks and think it would integrate well into a product like OpenSea, please email us at hooks@opensea.io.
Why now?
We’ve been excited about Seaport Hooks for a while, but some of the most interesting applications just became cost-effective with the recent introduction of the TSTORE opcode in the Dencun upgrade (EIP1153).
We, like our colleagues at protocols like Uniswap, have been eagerly awaiting the Dencun upgrade, which is a key unlock not only for broader Ethereum scalability (EIP4844), but also for the richer application design space provided by EIP1153.
When will it be online?
Seaport 1.6 is now live and deployed at the addresses listed here:
github.com/ProjectOpenSea/seaport
OpenSea will begin migrating its users to submit orders on Seaport 1.6 on Monday, March 25th, and the OpenSea API will stop accepting Seaport 1.5 orders on Monday, April 1st.
The first OpenSea feature leveraging hooks will be available in April, so stay tuned for more updates.
Why is this important?
We believe NFTs are more than just digital properties that can be collected, bought, and sold, they are an extremely rich canvas for building applications and experiences that are not possible in the traditional internet.
Some of these innovations will be built by OpenSea, but most will be built by the broader community in forms we haven’t yet imagined.
One of our company’s core values is to “build an ocean, not an aquarium” - hooks and the broader Seaport ecosystem are an invitation to the developer and creator community to push the limits of what’s possible with NFTs, and ideally, make those experiences natively available on the most trusted NFT marketplace and homepage.
What do I (as a user or developer) need to do?
As an OpenSea user, you don’t have to worry about anything - Seaport 1.6 orders will look and feel largely the same as 1.5 orders, and OpenSea will automatically start sending listings and quotes to Seaport 1.6 on Monday, March 25th.
If you are a user of the OpenSea Developer API, you can begin submitting Seaport 1.6 orders with non-programmatic users starting Monday, March 25th, and Seaport 1.5 orders will continue to be accepted by the API until Monday, April 1st, when they will no longer be considered active.
We will be pushing out updates to the OpenSea.js and Seaport.js packages on Monday, March 25th that should make it seamless to start signing and submitting 1.6 orders through the same public functional interface as before - we recommend developers pull the latest versions for either package next week.
If you are a smart contract developer or a marketplace building on top of Seaport, we recommend studying the new Seaport developer documentation, especially the sections related to Seaport Hooks.
Seaport 1.5 remains an ownerless superstructure that can be built and depended on as long as the Ethereum blockchain is running, but OpenSea Conduit will deprecate Seaport 1.5 as an approved channel in the coming months.
Finally, if you are a developer looking to build novel applications on Seaport Hooks, we again encourage you to contact hooks@opensea.io - especially if you think your Hook will bring novel functionality to OpenSea itself.
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