OpenSea Announces Upgraded Platform, Says SEA Token Airdrop to Come Later

OpenSea, a trading platform for non-fungible tokens (NFTs), officially introduced its OpenSea2 (OS2) upgrade to the wider public after a period in beta.

The revamped product now features token trading across 19 blockchains as it continues to pivot from NFTs to the wider crypto market.

“OS2 is the foundation for the next generation of OpenSea,” said Devin Finzer, co-founder and CEO of OpenSea, said in a statement. “We’ve rebuilt the platform from the ground up to become the best destination for everything on-chain, from NFTs to tokens, across chains and communities.”

The company also announced a revamp of its rewards system that recognizes on-chain activity with so-called XP points. The system, called Voyages, issues XP to users who complete basic activities like sharing a gallery, completing an on-chain swap or buying an NFT.

“Voyages are a clear step toward a more intentional kind of engagement on OpenSea,” said Finzer. “It’s about encouraging people to explore the full range of what the platform can do across chains, assets, and experiences.”

Users will eventually be able to use accrued XP to claims the highly anticipated airdrop of SEA, which will be the native OpenSea token.

OpenSea’s chief marketing officer, Adam Hollander, said in a blog post that he “reads comments every day” in regards to when the token will be released, but insists that the OpenSea Foundation will issue the token in a token generation event (TGE) only once a series of releases are rolled out.

“As someone who’s spent the last four years trading in the trenches right next to you, I know what it’s like to want a $SEA airdrop,” Hollander said. “But I also know that this isn’t just another TGE — it’s the TGE. And getting it right won’t just be a W for the Foundation and OpenSea but for our entire space.”

The company has not set a date for when the token will be released.