GM!
It’s the last day of 2022 and we are still here to make every day count.
Incognito was founded with a mission to solve the crypto privacy problem, and everything we do serves that goal.
When it comes to crypto, it’s not just about tokens, trading, and transactions, but NFTs and crypto collectibles.
We are happy to take another step forward regarding privacy issues to allow private purchase of NFTs on OpenSea.
pOpenSea is a DApp that allows you to purchase NFTs and crypto collectibles on the largest web3 marketplace - Opensea - with full privacy on Incognito.
Now available at https://incognito.org/papps/popensea
How it works:
- Shield ETH into Incognito wallet to have privacy ETH (pETH) on Incognito network.
- ETH shielded is locked in a smart contract on Ethereum
- pETH will be burned on the Incognito chain to unlock ETH in the smart contract on Ethereum when you buy a NFT on OpenSea.
- The NFT will be sent to your designated address on Ethereum once the purchase is done.
- It is highly recommended to use a completely new address whenever you buy NFT with pOpenSea to keep your history private.
How does pOpenSea provide anonymity for users’ NFT purchases?
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Users’ ETH shielded will be locked in a smart contract on Ethereum altogether as a pool to convert it into pETH on the Incognito chain.
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When a user buys a NFT on OpenSea, their pETH will be burned on Incognito chain to unlock ETH from smart contract on Ethereum.
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Please check the smart contract here:
https://etherscan.io/tokenholdings?a=0x43D037A562099A4C2c95b1E2120cc43054450629 -
This burn transaction is privacy-guaranteed by zero-knowledge proofs. Hence, it is impossible to track the input of ETH or the purchaser.
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In other words, the buyer is completely anonymous.
Wishing you a happy and healthy New Year 