NFT marketplace OpenSea has announced plans to launch its own SEA token, which will be distributed to active and long-time users of the platform, including those in the United States.
Details regarding the timeline and conditions of the airdrop have not been disclosed, but the company emphasized that the token will focus on long-term user engagement rather than short-term speculation.
Rumors about the release of a token first surfaced in November 2024. A user on X under the nickname Pluid shared information about OpenSea’s plans, coinciding with the announcement of a new version of the platform, which was scheduled for the end of the year. However, the official launch of OS2 took place in late January 2025. The first users to test it were the holders of Gemesis NFTs, and it is now available to everyone. This news came alongside the SEA token announcement.
According to the announcement, the platform now allows not only NFT trading but also cryptocurrency, aggregates multiple marketplaces, and supports cross-chain purchases. Initially, users will also benefit from reduced fees.
Meanwhile, OpenSea's position in the NFT market has significantly weakened in recent years. In 2022, the platform controlled 90% of the market, but by 2025, its share had decreased to 33%. Marketplace Blur took the lead, processing $317 million in trades on Ethereum in January 2025, more than double OpenSea’s $152 million.
The decline in market share prompted OpenSea to reconsider its strategy. In November 2024, the company laid off half of its staff, and CEO Devin Finzer stated that the platform would be "rebuilt from scratch." The launch of the SEA token and expanded features are likely part of this strategy aimed at attracting users back and strengthening its position in the market.
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