OpenSea has announced plans to launch its native token. In an announcement made by Devin Finzer, OpenSea’s native token, with ticker SEA, is expected to be launched during the first quarter of 2026. The founder added that 50% of the token supply will be given to OG users while sharing minimal tokenomics details.
OpenSea is transforming into a full trading platform that will include both fungible and non-fungible tokens. “This is just the beginning of our transformation, from ‘NFT marketplace’ to ‘trade everything,’” said Finzer on X. He further noted that the wave of non-fungible tokens (NFTs) in 2021 was just the first chapter in OpenSea’s journey, which brought a ton of artists, musicians, gamers, and collectors on-chain.
OpenSea plans to reward OG users
Finzer mentioned that 50% of SEA tokens will be given to the platform’s supporters, mainly OG users and participants in the ongoing rewards program. In the joint announcement with the OpenSea Foundation, Finzer explained, “The Foundation has confirmed that 50% of supply will be allocated to the community, with more than half awarded via an initial claim. Both OGs and those who participated in OpenSea rewards programs will be meaningfully considered, separately.”
Moreover, half of the revenue collected during SEA’s launch will be used for token buyback. The SEA token will power the newly transformed OpenSea platform. Users can stake SEA to support their favorite token or NFT collectibles. The OpenSea Foundation has been teasing the SEA token since February. However, OpenSea did not disclose more details about the token, such as the total supply and other tokenomics details.
OpenSea wants to become a multi-chain platform, as reported by Cryptopolitan. The platform has recovered its trading volume and had its best month in recent years in October. OpenSea aims to become like Jupiter, CowSwap, and 1inch, as well as other multi-chain platforms. Currently, it charges 0.9% fees on every transaction, ensuring a steady stream of revenue. NFTs are still a big part of OpenSea, used for airdrops and other perks.
Additionally, OpenSea wants to tap the perpetual futures contracts known as perps. The platform wants to mimic successful perp DEXs like Hyperliquid and Aster, hoping to secure a share in this market. OpenSea has also revamped its mobile app and launched it to testers in a private alpha stage. The new app is expected to be available anytime between October and OpenSea’s token launch event. “Integrating $SEA into OpenSea will be the opportunity to show the world our vision,” he said. “You should just be able to trade everything in one place, seamlessly.”
