OpenSea has confirmed plans to release its SEA token while rolling out the OS2 open beta. The upgraded platform now supports transactions across 14 blockchains, including Flow, ApeChain, Sony’s Soneium BSL, and Berachain. 

The update also enables cross-chain purchases, expanding interoperability for users.

OpenSea Finally Launches Its Token

The SEA token distribution will consider historical activity on OpenSea, rather than focusing only on recent transactions. The redemption process will be straightforward, and users in the US will also have access.

In December, OpenSea established a foundation in the Cayman Islands, a move that aligns with its broader expansion efforts.

The NFT marketplace is entering the token space later than some competitors. Magic Eden introduced its ME token in December 2024, but its value dropped nearly 90% from launch. Blur’s token, released in mid-2024, faced a similar decline.

NFT marketplace tokens have struggled with adoption and price stability. OpenSea’s entry into this space raises the question of whether it can shift market sentiment or encounter the same challenges as its predecessors.