Summary
- OpenSea said it will launch its own token 'SEA' in Q1 next year.
- 50% of the total token supply will be distributed to existing users and participants in the rewards program, and 50% of platform revenue will be used to purchase SEA tokens.
- OpenSea said it is pursuing a transition to a multi-chain virtual asset exchange through this token issuance.
Non-fungible token (NFT) trading platform OpenSea will launch its own token 'SEA' in Q1 next year.
On the 18th (local time), The Block reported that the OpenSea Foundation said in a statement, "Its own token SEA is scheduled to be launched in the first quarter of 2026." Fifty percent of the total token supply will be distributed to existing users (OG) and participants in the rewards program.
At launch, 50% of the platform's revenue will be used to purchase SEA tokens. Additionally, users will be able to stake SEA on collections or tokens they prefer. However, OpenSea did not disclose the total supply, detailed allocation ratios, or the methodology for calculating the buyback ratio.
OpenSea said it is pushing to transition from an NFT-focused platform to a multi-chain virtual asset exchange through this token issuance.
Son Min
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