The non-fungible token (NFT) marketplace OpenSea officially launched its new platform OS2, marking the end of its testing phase.
The company stated that the updated platform supports full token trading across 14 blockchains, including fungible tokens on Solana, and introduced tools aimed at enhancing cross-chain functionality. These changes demonstrate OpenSea's determination to expand its platform capabilities beyond merely being an NFT platform.
OpenSea's Chief Marketing Officer Adam Hollander stated that the platform has always believed that anything on-chain should flow and be discoverable in one place.
"OS2 allows collectors to mint NFTs on Solana, exchange game tokens on Ronin, and purchase newly created memecoins through a single wallet process," said Hollander. Previously, users had to deal with multiple DApps and bridges, which was cumbersome, and we have simplified that experience.
OpenSea executives said that NFT visitors have left, but real users remain.
Despite the overall market cooling, there is still hope for OpenSea user retention and growth. Hollander mentioned that since January, the number of weekly unique collectors on OpenSea has increased by 40%.
"This indicates that visitors have left, while real users remain and engage in more interactions on-chain."
OpenSea's data aligns with broader trends among NFT buyers. Unique NFT buyers in May increased to 936,000, a 50% rise from 622,000 in April. This also marks the first increase in monthly NFT trading volume since 2025.
Hollander stated that on-chain provable ownership of digital assets still holds real power and pointed out that real-world assets (RWA) are on the rise.
From April 15 to 22, NFT sales on the RWA marketplace Courtyard reached $20.7 million, allowing Polygon to surpass Ethereum in weekly NFT sales.
The profitability of the NFT business depends on utility.
Although not as high as at its peak, NFTs can still bring profits to teams with the right strategies. Hollander stated that profitability depends on the business's focus on utility.
"Profit flows to businesses that can continually add utility and choice for users, which is why we continue to be the home of NFTs and invest in cross-chain token trading," Hollander said.
