Author: shushu
The issuance of OpenSea's tokens is imminent, which may be your latest but most promising airdrop opportunity. Last night, OpenSea announced that its upgraded platform OS2 is officially online, marking the countdown to the issuance of the $SEA token. The official has made it clear that future airdrops will be distributed based on users' historical contributions, current on-chain behaviors, and XP points in the Voyages task system.
This article will help you quickly master the completion methods for OpenSea's latest task updates, covering basic operations such as gallery creation, cross-chain trading, and NFT purchasing, and analyzing the incentive logic behind $SEA and the motivations for the platform's transformation.
Transition to crypto asset trading and launch of token incentive programs.
On May 30, OpenSea officially ended its internal testing phase and publicly released its newly upgraded platform—OpenSea 2 (OS2), marking a key step for this veteran NFT trading market towards transforming into a broader crypto asset ecosystem. The new platform currently supports token trading on 19 blockchains, covering functions from NFT minting to cross-chain token exchanges, and simultaneously launched a user incentive system called 'Voyages'.
OpenSea co-founder and CEO Devin Finzer stated in the announcement that OS2 is not just a simple iteration but the 'technical and experiential foundation of the new generation of OpenSea'. Finzer pointed out that the new platform aims to create a comprehensive trading platform that spans multiple chains and serves different communities, no longer limited to NFT trading but fully embracing various forms of on-chain assets, including standard tokens.
As an important part of this upgrade, OpenSea has simultaneously launched a new user incentive mechanism. Users will earn XP (experience points) for completing operations such as creating NFT display pages, cross-chain trading, and bulk purchases on the platform. These points will later be redeemable for OpenSea's upcoming native token—$SEA.
According to OpenSea's Chief Marketing Officer Adam Hollander, the $SEA airdrop will officially launch through TGE after completing a series of key product releases. Hollander candidly stated in a blog post: 'We fully understand the community's expectations for the $SEA airdrop, but this is not an ordinary token issuance; it's a core event that will determine the next phase of OpenSea's ecosystem mechanism.'
Currently, OpenSea has not announced a specific timeline for the TGE, but it has clarified that three types of behaviors will affect users' airdrop weights:
1. Historical contributions, i.e., users' past trading activity on OpenSea.
2. Current behavior, including actual usage on the new platform, especially activities related to token trading.
3. XP points obtained through the Voyages task system.
It is noteworthy that 'Voyages' is not just a simple task-checking mechanism but is divided into a reward system with five rarity levels (Common, Uncommon, Rare, Epic, Legendary). Some advanced tasks will also unlock special reward items called 'Treasures', which will be directly recorded on users' profiles as proof of their participation and contributions.
Additionally, OpenSea has simultaneously restructured its Discord community, trying to build it as a hub for Web3 user communication and feedback. According to official information, the community channels have been significantly streamlined and mechanisms such as identity grouping, themed interviews, and real-time voice interactions have been introduced to enhance user engagement and governance participation.
OpenSea stated that OS2 is only the first step in the platform's transformation and will continue to expand supporting chains, introduce more asset classes, and promote the deep integration of user incentives, community governance, and platform economic models while ensuring decentralization principles. In Devin Finzer's view, the launch of $SEA is not only a mechanism leap for OpenSea itself but could also become an important watershed for Web3 applications transitioning from a single scenario to a diversified economic system.
Interactive tutorial.
Before officially launching the SEA token TGE, OpenSea is actively encouraging users to deeply experience its new platform OS2 through a series of interactive tasks. Starting May 30, the official launched a new round of Voyages activities, allowing users to earn XP points by completing on-chain interaction tasks and accumulate qualifications for future $SEA redemption. This is also seen as a core entry point for participation before the TGE, especially in the historical context where Blur has triggered large-scale airdrops through trading behavior, leading to high community expectations for OpenSea's current round of rewards.
The task process of this update is relatively simple and suitable for all users to quickly get started:
Task 1: Create a personal gallery.
After entering OpenSea OS2, users can create their own NFT display pages through the 'Gallery' feature. By simply uploading collectibles and editing descriptions, this task can be completed, forming the basic step for XP accumulation.
Task 2: Conduct on-chain token trading.
Complete a token exchange operation on the Solana chain for no less than $5 (for example, exchanging SOL for USDC), with extremely low fees of about $0.1, helping users familiarize themselves with OS2's cross-chain trading experience.
Task 3: Purchase an NFT costing around $5.
Select any NFT with good liquidity and low price fluctuations for purchase, preferably completing this on the Solana chain for both low cost and high efficiency.
Task 4: Social Interaction.
Completing the official designated tasks of liking and sharing according to the activity requirements helps to enhance community engagement.
It is worth mentioning that OpenSea originally charged account opening fees and held countless users' emotional memories as they first entered Web3. Learning from Blur's aggressive airdrop strategy that made waves in the market, the current round of $SEA distribution is considered a 'cash-out' for OpenSea's return to the community. As the activity continues to be updated, community users have expressed their intention to create tutorials and share strategies around each round of tasks, positioning themselves as potential winners for this round of airdrops.
The rise and fall of OpenSea.
After announcing the official launch of OS2 and the upcoming token airdrop mechanism, OpenSea returned to the spotlight of the crypto world. However, to understand why this once $13.3 billion valued NFT market creator needs such a comprehensive self-restructuring, one might revisit its ups and downs over the past seven years.
The story of OpenSea began in the early blockchain days of 2017. At that time, founders Devin Finzer and Alex Atallah were still exploring ideas for sharing Wi-Fi via cryptocurrency until the explosive popularity of CryptoKitties led them to rethink the potential of NFTs. In early 2018, the two officially founded OpenSea and successfully raised their first round of funding after joining Y Combinator. The NFT market at that time was still in its infancy, and OpenSea was once on par with competitors like Rare Bits.
The early days of OpenSea were not easy. Before 2020, its platform trading volume remained in the million-dollar range, operating through a streamlined team and focused strategy. It was not until the NFT bull market arrived in 2021 that OpenSea experienced explosive growth. That year, Beeple's digital artwork sold for a high price of $69 million, and series like Bored Ape Yacht Club (BAYC) ignited market sentiment, leading to OpenSea's monthly trading volume surpassing $3 billion that summer, and setting a historical monthly high of $5 billion by year's end.
OpenSea then stepped into the spotlight. In 2021, a $100 million funding round led by a16z raised its valuation to $1.5 billion. By early 2022, a new funding round further elevated its valuation to $13.3 billion, making it the undisputed absolute leader of the NFT market.
However, accompanying this is a market downturn and management difficulties. On one hand, the NFT hype plummeted sharply from early 2022, and on the other hand, OpenSea faced a series of negative news such as insider trading, system failures, and user security incidents, which severely impacted its reputation. More importantly, after Blur emerged at the end of 2022, OpenSea's market share among professional traders was quickly eroded. Emerging platforms launched 'vampire attacks' on OpenSea using lower fees, faster executions, and token incentives.
Starting in 2023, OpenSea began a series of layoffs and restructuring attempts to alleviate cost pressures and reorganize its product strategy, during which its market share had dropped from a peak of 95% to less than 30%. The planned IPO was also stalled due to community sentiment and regulatory pressures. Finzer ultimately decided to abandon the path of a 'traditional tech company' and return to the roots of Web3—token issuance.
Once this news was announced, OpenSea's platform trading volume saw a significant surge, but with the controversy over the airdrop mechanism, the enthusiasm for interaction brought by the token issuance quickly cooled down.
The launch of the SEA token is not just OpenSea's 'self-rescue'; it signifies the platform's choice to re-bind with users after experiencing repeated tensions between commercialization paths and community trust. The success or failure of this radical strategic restructuring will determine whether OpenSea can rise again from obscurity and will reshape the competitive landscape of the entire NFT market in the future.
