OpenSea CEO Devin Finzer has confirmed the launch of SEA token in Q1 2026 with 50% supply for the community and early users. The platform will use half of its revenue to buy back SEA tokens and allow users to stake behind collections. OpenSea’s shift to a multi-chain trading aggregator spans 22 blockchains, reflecting a move from NFTs. Finzer stated that half of SEA’s supply will go to the community, integrated into OpenSea’s ecosystem for staking. The pivot comes as NFT trading volumes have plummeted over 90% from peak, with market cap dropping to $4.87 billion. OpenSea aims to reinforce token utility and value with staking and buybacks. The company’s repositioning follows the NFT market collapse, with $2.6 billion in trading volume this month, mostly from token trading. OpenSea introduces new tools including a mobile app and perpetual futures trading to position as a “trade-any-crypto” platform. The SEA token’s delayed launch led to speculation, with odds dropping following Finzer’s update on a 2025 launch. At its peak in January 2022, OpenSea generated $125 million monthly revenue, but by late 2023, it fell to $3 million, prompting layoffs and restructuring. The downturn was exacerbated by competition from Blur, which offered zero fees and no royalties, causing backlash from artists. OpenSea’s response, including a royalty structure change, resulted in criticism from artists and collectors. Facing financial strain, OpenSea underwent a major reset, relocating headquarters to Miami and handling $1.6 billion in crypto trades in early October 2025, its biggest month in years.

Read more at Yahoo Finance: OpenSea to Launch SEA Token in Q1 2026, Allocating 50% to Community