Devin Finzer, co-founder and CEO of OpenSea, the largest non-fungible token (NFT) marketplace, announced Friday that the platform is reinventing itself to “trade everything.”
Founded in 2017, OpenSea is the largest NFT marketplace with a market share of over 55% at the time of writing, according to facts from NFTScan. According to Finzer, trading volume this month exceeded $2.6 billion.
OpenSea aims to become a one-stop destination for onchain activities
In an X afterFinzer noted that “NFTs were chapter one for us.” The platform was largely responsible for introducing digital collectibles to mainstream internet users, he said, adding:
“The sequel is the destination for the onchain economy as a whole. Trade everything.”
By everything, Finzer meant “tokens, culture, art, ideas, the digital and the physical.” The platform wants to be an online hub that “feels like a home, not like a bank.”
The aim of the platform is to ensure that users do not have to navigate through different chains, bridges, wallets and protocols to access onchain liquidity, but can trade any asset seamlessly on one platform.
OpenSea will launch its token in the first quarter of 2026
The OpenSea Foundation will launch its own token, SEA, in the first quarter of 2026. While several platforms have launched their tokens with little success, Finzer noted that SEA is not “made to be launched and forgotten.”
Finzer pointed out that 50% of the token’s supply will be allocated to the community. More than half of this offer will be awarded through an initial claim.
Original members of OpenSea and those who have participated in the platform’s rewards programs will be “meaningfully considered” and rewarded separately, Finzer noted. However, he did not elaborate on the details of how the reward system would work.
Additionally, Finzer noted that OpenSea will use 50% of its revenue to purchase its own token at launch.
The SEA token will be “deeply integrated” with the platform. This includes the ability for users to stake SEA against their favorite tokens and collections.
OpenSea’s transformation also includes plans to launch a mobile application, which is currently in the ‘closed alpha’ stage of development. The mobile app will focus on ensuring that both old and new users get the best experience, Finzer noted while chatting on an X Spaces call.
Additionally, the platform is also working on enabling perpetual futures trading, although it is still in the early stages of development.