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OpenSea Confirms Upcoming Token Airdrop, Expands to Crypto Trading
The new platform OS2 will combine NFT and token trading and support multiple blockchains.
What to know:
- OpenSea has launched its new trading platform OS2, which expands to token trading.
- OpenSea Foundation also announced plans to distribute SEA tokens to users but didn't disclose the details or date of the airdrop.
- The platform's monthly trading volume is down significantly from a $5 billion peak in early 2021, having facilitated trading of $190 million worth of NFTs last month.
Popular non-fungible token (NFT) marketplace OpenSea said Thursday that it is expanding its platform to crypto trading and confirmed it is planning to distribute SEA tokens to users.
The trading platform called OS2 has launched today, and aggregates marketplaces, allows cross-chain purchasing and offers lower fees in the beginning, according to the protocol's press release.
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"This represents an expansion of OpenSea from an NFT marketplace to a much broader platform for trading all types of digital assets," said Devin Finzer, Co-founder and CEO of OpenSea. "We think tokens and NFTs belong together in a single, powerful, delightful experience."
OpenSea Foundation, the Cayman Islands-based development organization behind the protocol, will also distribute SEA tokens offering utility on the OS2 platform.
While details and date of the airdrop remain undisclosed, OpenSea has confirmed that SEA will recognize both active users and those who have been part of the platform since its early days. US users will be included in the airdrop.
OpenSea has said that SEA’s utility will be focused on long-term engagement rather than short-term speculation.
The platform's monthly trading volume is down significantly from a $5 billion peak in early 2021, having facilitated trading of $190 million worth of NFTs last month. The platform’s annualized revenue stands at $33 million, according to Dune Analytics data.
Krisztian Sandor
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
