Upcoming OpenSea Contract Migration
Greetings to Klaytn and OpenSea users,
We would like to inform the Klaytn and OpenSea communities of an upcoming contract migration scheduled for January 6th 2022.
This contract migration is part of the OpenSea and Klaytn integration maintenance, and is an update to move to a new verified deployment of the 0x exchange contracts on the Klaytn network and its accompanying asset proxy contracts. This suite of contracts facilitates interaction between the Klaytn network and the OpenSea platform.
In addition, we will also be using this opportunity to add support for KIP-37 and royalties distribution for Klaytn based assets on the OpenSea platform (KIP-37 is the Klaytn corollary to the ERC-1155 NFT interface definition).
After the update, two new features will also become available to Klaytn OpenSea users:
- Users will be able to list, buy and sell KIP-37 based NFTs.
- Auction royalties will be fully supported for both KIP-17 and KIP-37 based NFTs. You can find out more about the OpenSea royalties structure here.
These features will allow Klaytn based users to have a more complete OpenSea experience, giving them the full breadth of what the OpenSea marketplace has to offer.
Who will this affect?
The migration will affect current users of the OpenSea platform who have accounts holding Klaytn based assets (KIP-7 or KIP-17), or accounts that have auctions or bids for auctions which are for Klaytn based assets.
What will happen?
After the migration, the OpenSea orderbook for Klaytn based assets (including auctions and bids for auctions) will be reset. Additionally, any pre-existing approvals will likewise be reset.
Support for Klaytn based asset royalties will be activated and the NFT standard KIP-37 will be available.
What do OpenSea users with Klaytn based assets need to do?
If you had any active auctions for Klaytn based assets
You will need to recreate your auctions as the orderbook will be cleared during the migration process.
If you had any active bids for Klaytn based assets
You will need to place your bids again after the asset owners recreate their auctions post-migration.
Detailed instructions on how to auction or bid on Klaytn based assets can be found here.
One-time approval of the new contracts
When you make your first buy or sell action after the migration, you will be required to approve the integration contracts, even if you had previously approved them before the migration.
This approval will only need to be done once per account per token, and can be completed by following the steps below.
Contract approval steps
KIP-17 NFT approval
To start, head to a KIP-17 NFT item that you own and press the blue “Sell” button on the item page.
Set your desired listing price, eg. 10 WKLAY, then press “Complete Listing” at the bottom.
You’ll then be prompted to complete your listing with two signatures. The first of these signatures is to approve NFT selling for this specific collection. Click “Confirm” in your wallet to proceed.
After this the additional second wallet signature will appear, this signature authorizes the listing of your item, after which your item will be listed.
Secondary listings from the same NFT collection will only require a single listing authorization signature.
KIP-37 NFT approval
KIP-37 NFT approval is similar to KIP-17 NFT approval, but requires a third additional signature the first time you list a KIP-37 item.
To start, navigate to your KIP-37 NFT item page, click “Sell” and set a price.
As seen in the above image, since KIP-37 tokens are newly supported, there will be an additional token unlock signature request between the collection selling approval signature and before the listing signature for a total of three signatures.
Click “Confirm” or “Sign” each time to proceed with listing your KIP-37 NFT.
Similar to the KIP-17 case, the token unlock and collection selling approval signatures are not needed for additionally listed items from the same collection, only a single listing authorization signature.
We are very excited to bring these new features to the Klaytn and OpenSea communities. We would like to thank our community members for their support, and ask everyone to excuse the interruption during this migration process as we work towards providing a better Klaytn/OpenSea experience.