OpenSea announces token 'SEA' issuance in Q1 2026…50% of revenue to be used for buybacks
Suehyeon Lee
Summary
- OpenSea said it plans to launch its own token, 'SEA', in Q1 2026.
- 50% of the total issuance will be distributed to the community, with original users and reward participants given priority.
- They said 50% of platform revenue will be used for buybacks, aiming to achieve token value stability and ecosystem expansion.
The non-fungible token (NFT) marketplace OpenSea plans to launch its own token, 'SEA', in Q1 2026.
On the 18th (local time), Devin Finzer, OpenSea's chief executive officer (CEO), said on X, "We will launch the SEA token in Q1 next year and will allocate 50% of the total supply to the community," adding, "Half of this will be distributed during the initial claim process, with original users and reward participants given priority."
The SEA token will include a staking feature linked to users' preferred NFT tokens and collections, and 50% of platform revenue will be used for buybacks. This is intended to pursue token value stability and ecosystem expansion simultaneously.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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