🔥 Gate Post Ambassador Exclusive Posting Reward Task Round 4 Is Live!
Not yet a Gate Post Ambassador? Apply now 👉 https://www.gate.com/questionnaire/4937
Join the Ambassador Task and post daily from June 9 to June 15, get your posts rated, and share a $300 prize pool based on your ratings!
🎁 Reward Details:
S-Level Weekly Ranking Reward
Post every day for 7 days with an overall quality score above 90 to qualify for S-Level.
2 outstanding ambassadors will each receive a $50 trading fee rebate voucher.
A/B-Level Tiered Rewards
Based on the number of posts and their quality, ambassadors will
OpenSea issue coin is coming, is it really issuing coins or yet another "trap"?
Original Title: OpenSea is finally going to issue coins, this time no PUA?
OpenSea is about to issue coins, this may be your latest but also the most promising airdrop opportunity. Last night, OpenSea announced the official launch of its upgraded platform OS2, marking the countdown to the issuance of SEA Tokens.
The official has clarified that future airdrops will be allocated based on users' historical contributions, current on-chain behavior, and XP points in the Voyages task system.
This article will help you quickly master the completion method of the latest task update of OpenSea, covering basic operations such as gallery creation, cross-chain transactions, and NFT purchases, as well as analyzing the incentive logic behind SEA and the platform's transformation motives.
Transforming into cryptocurrency trading and launching a token incentive program
On May 30, OpenSea officially ended its internal testing phase and launched its newly upgraded platform – OpenSea 2 (OS2) to the public, marking a key step for this established NFT trading market in transforming towards a broader cryptocurrency asset ecosystem.
The new platform currently supports token trading on 19 blockchains, with functionalities covering everything from NFT minting to cross-chain token exchange, and has simultaneously launched a user incentive system called "Voyages."
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, where users will earn XP (experience points) points after completing operations such as NFT display page creation, cross-chain trading, and bulk purchase on the platform, which will be used to redeem OpenSea's upcoming native token – SEA in the future.
Hollander admitted in the 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 phase of OpenSea's ecological mechanism."
Currently, OpenSea has not announced a specific timeline for TGE, but it has clarified that three types of behavior will affect users' airdrop weight:
It is worth noting that "Voyages" is not just a simple task check-in 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 page as proof of their participation and contribution.
In addition, OpenSea has also restructured its Discord community, attempting to make it 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.
! ImageOpenSea said that OS2 is only the first step in the transformation of the platform, and will continue to expand the support chain and introduce more asset classes in the future. And while ensuring the principle of decentralization, we will promote the deep integration of user incentives, community governance and platform economic models.
In Devin Finzer's view, the launch of SEA is not only a mechanism leap for OpenSea itself but may also become an important watershed for Web3 applications transitioning from a single scenario to a diversified economic system.
Interactive Tutorial
Before the official launch of the SEA token TGE, OpenSea is actively encouraging users to immerse themselves in its new platform OS2 through a series of interactive tasks.
Starting from May 30, the official launch of a new round of Voyages activities allows users to earn XP points by completing on-chain interaction tasks, accumulating eligibility for future SEA exchanges.
This is also seen as a core entry point before the TGE, especially in the historical context where Blur had incentivized large-scale Airdrops through trading activities, leading to generally high community expectations for OpenSea's current reward period.
! ImageThe task process of this update is relatively simple, which is suitable for all users to get started quickly:
Task 1: Create a Personal Gallery
After entering OpenSea OS2, users can create their own NFT display page through the "Gallery" feature. They only need to upload their collections and edit the introduction to complete this task, which is a fundamental step to accumulate XP.
Task 2: Conduct on-chain Token transactions
Complete a token swap operation of no less than $5 on the Solana chain (e.g., SOL to USDC) with an extremely low fee of only about $0.1, which helps to familiarize yourself with the OS2 cross-chain trading experience.
Task 3: Purchase an NFT for around 5 dollars.
Select any NFT with good liquidity and small price fluctuations for purchase, and it is also recommended to complete it on the Solana chain, which can balance low cost and high efficiency.
Task Four: Social Interaction
Completing the like and share tasks for the official designated content according to the activity requirements helps to synchronize and enhance community participation.
It is worth mentioning that OpenSea initially charged account opening fees and carried countless users' sentimental memories of entering Web3. In light of Blur's aggressive Airdrop as a cautionary tale in the market, this round of SEA issuance is considered to be OpenSea's "cash-in" return to the community.
As the activity continues to update, community users have also expressed their intention to create tutorials and share strategies around each round of tasks, positioning themselves in advance to become potential winners of this round's Airdrop.
The Rise and Fall of OpenSea
After announcing the official launch of OS2 and the upcoming token airdrop mechanism, OpenSea is once again in the spotlight of the crypto world. However, to understand why this once $13.3 billion valued NFT marketplace creator needs such a comprehensive self-reinvention, it may be helpful to review its ups and downs over the past seven years.
OpenSea's story began in 2017 in the early days of blockchain, when founders Devin Finzer and Alex Atallah were still exploring the idea of sharing Wi-Fi through cryptocurrency, until the popularity of CryptoKitties sparked a rethinking of the potential of NFTs.
At the beginning of 2018, the two officially founded OpenSea and successfully secured their first round of funding after joining Y Combinator. At that time, the NFT market 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 was consistently at the million-dollar level, and its operations relied on a lean team and focused strategy.
It wasn't until the arrival of the NFT bull market in 2021 that OpenSea ushered in explosive growth, that year, Beeple's digital artwork sold for $69 million, and series such as the Bored Ape Yacht Club (BAYC) detonated market sentiment, OpenSea's monthly trading volume exceeded $3 billion in the summer of that year, and hit a record high of $5 billion in a single month at the end of the year.
In 2021, a $100 million funding round led by a16z pushed its valuation to $1.5 billion, and in early 2022, a new round of funding raised its valuation to $13.3 billion, making it the undisputed absolute leader in the NFT market.
However, what followed was a market downturn and management difficulties. On one hand, the popularity of NFTs plummeted sharply since early 2022, while on the other hand, OpenSea was plagued by negative news such as insider trading, outages, and user security incidents, severely damaging its reputation.
More importantly, after Blur emerged at the end of 2022, OpenSea's market share among professional traders was quickly eroded, with emerging platforms launching "vampire attacks" on OpenSea using lower fees, faster execution, and token incentives as weapons.
Since 2023, OpenSea has launched layoffs and restructuring in an attempt to reduce cost pressure and restructure its product route, at that time, its market share has dropped from 95% at its peak to less than 30%, and the pace of the original planned IPO has also stalled due to community public opinion and regulatory pressure, Finzer finally decided to completely abandon the path of "traditional technology companies" and return to the origin of Web3 - Coin issuance.
Once the news was announced, the trading volume on the OpenSea platform surged dramatically after a long time, but with the controversy surrounding the airdrop mechanism, the enthusiasm for interaction brought about by the issuance of tokens quickly cooled down.
! ImageThe launch of the SEA token is not only OpenSea's "self-help", it means that the platform has experienced repeated pulls between the commercialization path and community trust. Finally choose to rebind with the user.
This radical strategic restructuring will determine whether OpenSea can rise again from its silence and will also reshape the competitive landscape of the entire NFT market in the future.