{"id":90018,"date":"2025-10-18T11:17:45","date_gmt":"2025-10-18T08:17:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90018"},"modified":"2025-10-18T11:20:17","modified_gmt":"2025-10-18T08:20:17","slug":"opensea-transforms-business-model-and-plans-token-launch","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/opensea-transforms-business-model-and-plans-token-launch\/","title":{"rendered":"OpenSea Transforms Business Model and Plans Token Launch"},"content":{"rendered":"

NFT<\/a> marketplace OpenSea is now positioning itself as a multichain aggregator for trading a wide range of cryptocurrencies beyond the realm of digital art, reports The Block<\/a>.<\/p>\n

The platform has opened access for users to trade any tokens, including NFTs, meme coins, and other virtual assets across 22 blockchains.<\/p>\n

OpenSea aggregates buy and sell orders from decentralized exchanges like Uniswap and Meteora, charging a 0.9% fee.<\/p>\n

The platform employs a non-custodial model and does not conduct KYC<\/span> checks. Instead of user verification, it uses tools from the analytics company TRM Labs to flag addresses that are sanctioned or suspicious in terms of money laundering.<\/p>\n

According to OpenSea founder and CEO Devin Finzer, he decided to shift the platform’s focus away from NFTs due to the prolonged downturn in the non-fungible token sector.<\/p>\n

The company reduced more than half of its staff<\/a> after monthly revenue fell from $125 million in January 2022 to just $3 million by the end of 2023. By that time, NFT trading volumes had declined by 90% from their peak in 2021. Additional pressure on OpenSea’s business came from losing dominance in the segment with the emergence of competitors like Blur<\/a> and Magic Eden<\/a>.<\/p>\n

In the first two weeks of October, the platform’s crypto trading volume reached $1.6 billion, with NFTs contributing $230 million.<\/p>\n

\n

“You can’t argue with macroeconomic trends,” Finzer stated, commenting on the company’s business pivot.<\/p>\n<\/blockquote>\n

According to DappRadar<\/a>, NFT trading volume on Blur over the past 30 days was just $125 million. Forbes<\/a> noted that the corporate X-account of OpenSea’s former main competitor and the account of its CEO Tieshun Roquer have been inactive since spring.<\/p>\n

\n

“In the crypto industry, there are people who come and go,” Finzer remarked.<\/p>\n<\/blockquote>\n

Details on the SEA Token<\/h2>\n

The OpenSea founder stated that creating a trading aggregator platform logically leads to the launch of a token, which will be deeply integrated into the platform.<\/p>\n

\n

OpenSea crossed $2.6B in trading volume this month, with over 90% from token trading.<\/p>\n

This is just the beginning of our transformation, from \u201cNFT marketplace\u201d to \u201ctrade everything.\u201d<\/p>\n

NFTs were chapter one for us. In 2021, OpenSea brought the first wave of everyday internet users\u2026<\/p>\n

\u2014 dfinzer.eth | opensea (@dfinzer) October 17, 2025<\/a><\/p><\/blockquote>\n