OpenSea Unveils New Token, SEA, and Revamped Exchange, OS2

OpenSea, the leading NFT marketplace, has unveiled its new token, SEA, and a revamped version of its exchange, OS2. The company announced the launch of the SEA token via the OpenSea Foundation, which is intended to recognize active and loyal users, as well as early adopters. The token will be usable on the new OS2 open beta, which includes memecoins and other tokens in addition to NFTs.

The OS2 open beta is an expansion towards fun-filled trading, offering two main visual modes: Collector Mode and Pro Mode. Collector Mode presents a graphic-forward, colorful look that lets you see NFT art details, while Pro Mode shows small images with a data-heavy focus and analytics that show charts upfront with data over time. The open beta will be for both casual collectors and advanced users, featuring easy cross-chain purchases, aggregated marketplace listings, liquidity aggregators, live analytics, and an improved search.

OS2 also introduces XP, a non-transferable rewards feature that can be earned by listing NFTs for sale and making collection-wide offers. The SEA token's release date has not yet been announced, but it is expected to support the Seaport Protocol and be a major step in supporting the OpenSea community.

OpenSea confirmed the SEA token is coming just days after some Crypto Twitter users shared links to an "OpenSea Foundation" website. The site, which no longer loads, showed a page to connect a crypto wallet with an image of a shipping container and the words: "Get ready to set sail." Some posts claimed that US residents would not be eligible and VPNs would be blocked to geo-fence the airdrop. However, OpenSea has clarified that the SEA token will be available to US-based users.

OpenSea CEO Devin Finzer responded to the rumors, stating that there was some boilerplate language on a test website for a short period of time, but it was not the actual terms and conditions. In 2023, OpenSea launched "OpenSea Pro," another version of its NFT marketplace, catering to power traders and Blur users.