OpenSea CEO Devin Finzer has confirmed that the company will launch its long-awaited SEA token in the first quarter of 2026.
Key Takeaways:
- OpenSea will launch its SEA token in Q1 2026, with 50% of the supply allocated to the community and early users.
- The platform will use half of its revenue to buy back SEA tokens while allowing users to stake behind collections and projects.
- OpenSea’s pivot to a multi-chain trading aggregator reflects its shift from NFTs to broader crypto trading, now spanning 22 blockchains.
In a recent post on X, Finzer said that half of SEA’s total supply will go to the community, with early users and reward program participants eligible for separate allocations.
OpenSea to Use 50% of Revenue for SEA Buybacks, Adds Staking Utility
The token will be fully integrated into OpenSea’s core ecosystem. Users will be able to stake SEA behind their favorite collections or projects, while 50% of OpenSea’s platform revenue will be used to buy back SEA tokens.
The dual approach of staking and buybacks is intended to reinforce token utility and long-term value within the marketplace.
The announcement comes as OpenSea continues to pivot from being the face of the NFT boom to a broader multi-chain trading aggregator.
Once dominating digital art markets, the platform now supports 22 blockchains and recorded $2.6 billion in trading volume this month, over 90% of which came from token trading rather than NFTs.
OpenSea’s repositioning follows the collapse of the NFT sector, where trading volumes have fallen more than 90% from their 2021 peak.
The total market capitalization dropped from $20 billion in early 2022 to around $4.87 billion by October 2025, according to CoinGecko.
Finzer described the company’s pivot as both a necessity and an evolution. “You can’t fight the macro trend,” he said. “People want to trade everything—not just digital art.”
OpenSea has recently introduced new tools, including a mobile app and perpetual futures trading, as part of its effort to position itself as a “trade-any-crypto” platform.
The marketplace now aggregates buy and sell orders from decentralized exchanges like Uniswap and Meteora, generating roughly $16 million in revenue over the same period through a 0.9% transaction fee.
The SEA token’s debut, delayed by more than a year, had fueled speculation across prediction markets like Polymarket.
Following Finzer’s update, the odds of a 2025 token launch dropped from nearly 40% to under 1%.
OpenSea’s Trading Volume Hits 3-Year High as Platform Reinvents Itself
At the height of the NFT frenzy in January 2022, OpenSea generated $125 million in monthly revenue and was valued at $13.3 billion, making it one of the most valuable startups in crypto.
But by late 2023, as interest in digital collectibles evaporated, its monthly revenue had fallen to just $3 million. The company was forced to lay off more than half of its staff, shrinking from about 175 employees to around 60 today.
The downturn was accelerated by competition from rival marketplace Blur, which captured traders with zero fees and no royalties for creators.
OpenSea’s response, loosening its own royalty structure, backfired, sparking backlash from artists and collectors who accused the company of abandoning its roots.
Facing dwindling market share and financial strain, Finzer initiated a major reset. The company has since relocated its headquarters to Miami, with most staff working remotely.
Additionally, in the first two weeks of October 2025, the company handled $1.6 billion in crypto trades and $230 million in NFT transactions, its biggest month in more than three years.
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