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This news item is part of the weekly top 5 news bulletin (from Week 4, Jun 22) specially packaged for leaders of Nonprofits, Churches, and Faith-based Social Ventures.

In our Web3 news this week, we have a significant announcement from OpenSea NFT platform that is going to migrate to a new Web3 protocol called Seaport. This migration to a new protocol is going going to help OpenSea solve two big problems that they have. One is very high gas fees associated with the transaction. If you’ve tried to do any NFT transaction, you know the amount of fees you pay just to make that transaction happen. Apart from the purchase cost, there’s going to be a big fees for the transaction. Now that is going to reduce significantly with this new move to a new protocol. In fact, the headline says, “Launching seaport saving the community millions in fees”. So that’s the kind of impact it’s going to have. The second impact impact or second solution is improved efficiency. The current system is not very efficient in terms of transactions. So that is going to improve with OpenSea’s migration to the new Seaport protocol.

Here is the full list of the Top 5 News Items from Week 4, June 2022 with source links from YouTube, OpenSea, Meta, Twitter, WhatsApp, Web3.

🗞️ News 1: YouTube launches a helpful Corrections feature for videos with errors

Source:YouTube

🗞️ News 2: Meta makes VR more social with ability to invite friends to Horizon Home

Source:Meta

🗞️ News 3: Twitter releases Product Drops reminders & Location Spotlight feature

Source:Twitter | Twitter Business

🗞️ News 4: WhatsApp users can now securely migrate from Android to Apple devices

Source:Mark Zuckerberg

🗞️ News 5: [Web3] OpenSea migrates to new protocol for better efficiency, lower fees

Source:OpenSea

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