Opensea, the world leader in the NFT market, announced on February 13 the launch of its own token, named Sea. This major decision is accompanied by a complete overhaul of the platform that has dominated the sector since 2017.
An ambitious transformation for Opensea
The Opensea Foundation announced on February 13 the launch of its Token Sea, which will be accessible to American and international users. An important aspect of the project: the distribution of tokens will take into account all the history of use of the platform, not only recent activities. This approach aims to reward loyal users who have supported the platform since its beginnings.
This initiative In a key moment for Opensea, which has already generated nearly a billion dollars in income since its creation. His CEO, Devin Finzer, admits that the platform was too far from its web3 roots by becoming “too corporate”.
The change also includes the launch of OS2, an entirely redesigned version of the platform. Opensea, which operates on more than 10 different blockchain networks and has generated nearly a billion dollars in income since 2017, is looking to regain its initial DNA.
A favorable context for the launch
This launch comes in a context favorable to cryptos in the United States, particularly with the arrival of Donald Trump who wishes to make the country “the world capital of cryptocurrencies”. This positive climate should facilitate the development of the SEA project, despite the past investigations concerning the qualification of NFT as financial titles.
OpenSsea CEO, Devin Finzer, admitted to frankly that the platform had moved away from its initial values by becoming “too corporate” and “too web2”. To remedy this, the company takes concrete measures: reactivation of blocked functionalities, return of deleted collections and simplification of the too strict rules.
This project arrives after the success of the Token Penguins token Penguins, who had reached an impressive valuation of $ 3.5 billion when it was launched, before stabilizing at 620 million. This experience will probably serve as a guide for the launch of SEA.
Although the exact date remains to be announced, Opensea carefully prepares the launch of its token Sea. This initiative could in depth the NFT market and strengthen the position of Opensea leader in the web3 universe.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
