OpenSea Finally Launches Token: NFTs May Be Cold, But Yield Farming Isn't
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OpenSea Finally Launches Token: NFTs May Be Cold, But Yield Farming Isn't
Spend it. The last bit of liquidity in the NFT赛道 is about to be drained.
Navigating Web3 tides with focused insightsAuthor: Asher (@Asher_0210)
After enduring multiple bull and bear cycles and witnessing countless narrative shifts, OpenSea is finally launching its token. On May 30, OpenSea's official X account announced that OpenSea 2 (OS2) has exited testing and is now open to the public. Alongside this launch, they introduced a new rewards system called "Voyages," where users earn XP points by completing on-chain transactions and other basic activities. Additionally, CMO Adam Hollander revealed that the SEA token will undergo TGE following a series of product updates, though no specific timeline has been provided.
Below, Odaily Planet Daily breaks down the newly launched OpenSea 2 token incentive system, how to participate in interactions, and community sentiment toward the NFT sector.
OS2 New Rewards System
OpenSea was once the undisputed leader in NFT trading platforms. Data shows that in March 2021, OpenSea’s trading volume first surpassed $100 million, exceeded $300 million in July, and in August saw over a tenfold month-on-month increase reaching $3.44 billion. It was also in March of that year that OpenSea raised $23 million in a funding round led by a16z, with angel investors including Mark Cuban participating.
Years later, OpenSea is setting off again, aiming to rebuild its technology and user experience through the comprehensive upgrade of "OS2" to regain market attention. OS2 is not just a simple iteration—it represents the new technological and experiential foundation for the next-generation OpenSea. As a key part of this upgrade, OpenSea has simultaneously launched a new user incentive mechanism. Users who complete actions such as creating NFT landing pages, cross-chain trades, or bulk purchases will earn XP (experience points), which can later be redeemed for OpenSea’s upcoming native token—SEA.
According to a detailed post by OpenSea’s Chief Marketing Officer Adam Hollander on X, while no exact token launch date was given, he clarified several factors affecting the token airdrop:
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Past participation in events will be rewarded but separated from current rewards;
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No leaderboard exists, but earning XP points is important, and tasks involving token interaction are particularly worth prioritizing;
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Users can view their loyalty percentage on the rewards dashboard, which will play a significant role in token airdrop allocations;
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Bot accounts farming XP will be strictly penalized, and any detected will lose eligibility for token airdrops.
OpenSea Odyssey Mission Interaction Guide
Mission entry link: https://opensea.io/rewards. After entering, connect your wallet and bind your personal X and Discord accounts.
XP missions on OpenSea are continuously updated and all are time-limited. Currently, there are four missions available. Community feedback indicates previous issues like lag have been resolved, so it's advisable to complete them promptly.
The tasks mainly involve swapping tokens or purchasing NFTs across various chains, requiring only a single transaction exceeding $5—simple and easy to complete. Since most users are buying tokens or NFTs solely to fulfill tasks, avoid "hoarding." Choose projects with relatively high liquidity and quickly sell the acquired tokens or NFTs after completing the required interactions.
Participating in Interactions Is Worthwhile, But Think Twice Before Buying at Launch
Given the current downturn in the NFT sector, few truly believe OpenSea’s token launch will spark a “second rise,” let alone reshape the future of the NFT market. Many instead suspect OpenSea aims to extract the last remaining liquidity from the NFT space.
The current NFT ecosystem is essentially stagnant. On one hand, major former leading platforms have collectively fallen silent: Blur has seen a sharp decline in discussion; LooksRare’s official account has posted only one tweet this year; X2Y2 officially shut down its marketplace on April 30. On the other hand, blue-chip NFT projects have largely gone dormant—Pudgy Penguins being one of the few exceptions still maintaining community engagement—while Azuki, Doodles, and others have shown little activity since launching their tokens.
In such a weak market environment, although OpenSea’s interaction tasks are low-cost and quick to complete, making them worthwhile for some short-term gains ("free rewards"), one should remain highly cautious about buying the token upon listing. Current market sentiment remains fragile, and even previously hot sectors like Memes and AI Agents have clearly cooled down.
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