With the token issuance imminent, this may be your latest but most promising airdrop opportunity. Last night, OpenSea announced the official launch of its upgraded platform OS2, marking the countdown to the SEA token issuance.
The official has clarified that future airdrops will be allocated based on users' historical contributions, current on-chain behaviors, and XP points in the Voyages task system.
This article will help you quickly grasp how to complete OpenSea's latest task updates, covering basic operations such as gallery creation, cross-chain trading, and NFT purchases, while analyzing the incentive logic behind SEA and the motives for the platform's transformation.
Transforming into crypto asset trading and launching a token incentive program
On May 30, OpenSea officially ended its internal testing phase and publicly released its newly upgraded platform - OpenSea 2 (OS2), marking a key step 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 has also 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 is the 'technical and experiential foundation for the next 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 also launched a new user incentive mechanism, where users can earn XP points by completing actions such as creating NFT showcase pages, cross-chain trading, and bulk purchasing on the platform. These points will be redeemable for OpenSea's upcoming native token - SEA.
Related reading: After seven years of ups and downs, OpenSea has chosen to issue tokens.
According to OpenSea's Chief Marketing Officer Adam Hollander, the SEA airdrop will be officially launched through TGE after completing a series of key product releases.
Hollander candidly stated in a blog: 'We fully understand the community's expectations for the SEA airdrop, but this is not an ordinary token issuance; it is a core event that determines the next stage of OpenSea's ecological mechanism.'
Currently, OpenSea has not disclosed the specific timeline for the TGE, but has clarified that three types of behaviors will affect the airdrop weight for users:
Historical contribution refers to the user's past trading activity on OpenSea;
Current behaviors include real usage on the new platform, particularly activities related to token trading;
XP points obtained through the Voyages task system.
It is worth noting that 'Voyages' is not just a simple task-checking mechanism, but a reward system divided into 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 the user's profile as proof of their participation and contribution.
Additionally, OpenSea has also restructured its Discord community, aiming to make it a hub for Web3 user communication and feedback. According to the official introduction, the community channels have been greatly simplified and mechanisms like identity grouping, thematic interviews, and real-time voice interactions have been introduced to enhance user stickiness and governance participation.
OpenSea stated that OS2 is only the first step in the platform's transformation. In the future, it will continue to expand supported chains, introduce more asset categories, and promote the deep integration of user incentives, community governance, and platform economic models while ensuring decentralization principles.
In Finzer's view, the launch of SEA is not only a mechanism leap for OpenSea itself but could also become a significant watershed for Web3 applications moving from single scenarios to a diverse 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, where users can earn XP points by completing on-chain interactive tasks and accumulate qualifications for future SEA redemption.
This is also regarded as a core entry point before the TGE, especially in the historical context where Blur previously incentivized large-scale airdrops through trading behaviors, leading to generally high expectations for OpenSea's rewards this round.
The task process of this update is relatively simple and suitable for all users to quickly get started:
Task One: Create a Personal Gallery
Upon entering OpenSea OS2, users can create their own NFT showcase page through the 'Gallery' feature. Simply upload collections and edit descriptions to complete the task, which is a fundamental step to accumulate XP.
Task Two: Conduct On-Chain Token Trading
Complete a token exchange operation of no less than $5 on the Solana chain (e.g., exchanging SOL for USDC) with extremely low fees of only about $0.1, which helps familiarize users with the cross-chain trading experience of OS2.
Task Three: Purchase an NFT priced around $5
Select any NFT with good liquidity and low price volatility for purchase. It is also recommended to complete the transaction on the Solana chain to balance low costs and high efficiency.
Task Four: Social Interaction
Completing the official designated tasks of liking and sharing as per the activity requirements will help enhance community participation.
It is worth mentioning that OpenSea initially charged account opening fees and carried countless users' nostalgic memories of entering Web3. In light of Blur's aggressive airdrop strategy, this round of SEA distribution is seen as OpenSea's 'redemption' to the community.
As the activities continue to update, community users have expressed their intention to create tutorials and share strategies around each round of tasks, positioning themselves as potential winners of this round of airdrops.
The rise and fall of OpenSea
After announcing the official launch of OS2 and the imminent start of the token airdrop mechanism, OpenSea returns to the spotlight of the crypto world. However, to understand why this NFT market creator, once valued at $13.3 billion, needs such a comprehensive self-reconstruction, it's worth reviewing its ups and downs over the past seven years.
Related reading: Interviewing 18 insiders, a lengthy article reveals the rise and fall of OpenSea and its disputes with the SEC.
The story of OpenSea began in the early blockchain days of 2017, when founders Devin Finzer and Alex Atallah were exploring the idea of sharing Wi-Fi through cryptocurrency, until the explosive popularity of CryptoKitties prompted them to rethink the potential of NFTs.
In early 2018, the two officially founded OpenSea and successfully secured their first round of financing after joining Y Combinator. At that time, the NFT market was still in its infancy, and OpenSea was once on par with competitors such as Rare Bits.
The early days of OpenSea were not easy. Before 2020, its platform trading volume remained at the million-dollar level, relying on a lean team and focused strategies for operations.
It wasn't until the NFT bull market arrived in 2021 that OpenSea experienced explosive growth. That year, Beeple's digital artwork sold for a record high of $69 million, and series like Bored Ape Yacht Club (BAYC) ignited market sentiment. OpenSea's monthly trading volume exceeded $3 billion in the summer of that year, and by the end of the year, it hit a historical high of $5 billion in a single month.
OpenSea then entered a period of prominence. In 2021, a $100 million financing led by a16z raised its valuation to $1.5 billion, and in early 2022, a new round of financing further increased its valuation to $13.3 billion, making it the undisputed absolute leader in the NFT market.
However, the market downturn and management issues followed. On one hand, the popularity of NFTs plummeted sharply since early 2022; on the other hand, OpenSea faced a series of negative news, including insider trading, outages, and user security incidents, which severely damaged its reputation.
More importantly, after Blur emerged at the end of 2022, OpenSea's share in the professional trader market was rapidly eroded. Emerging platforms launched 'vampire attacks' against OpenSea with lower fees, faster execution, and token incentives.
Since 2023, OpenSea has consecutively initiated layoffs and restructuring efforts to alleviate cost pressures and reorganize its product roadmap. At that time, its market share had plummeted from a peak of 95% to less than 30%, and the original plan for an IPO was stalled due to community sentiment and regulatory pressures. Finzer ultimately decided to completely abandon the path of 'traditional tech companies' and return to the original point of Web3 - token issuance.
Once this news was announced, OpenSea's platform trading volume saw a long-awaited surge, but with the controversy over the airdrop mechanism, the enthusiasm for interaction brought about by the token issuance quickly cooled.
The launch of the SEA token is not just OpenSea's 'self-rescue'; it signifies that the platform, after a tug-of-war between commercialization paths and community trust, has finally chosen to rebind with its users.
The success or failure of this radical strategic restructuring will determine whether OpenSea can rise again from its silence and reshape the competitive landscape of the entire NFT market in the future.
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