OpenSea Expands into Fungible Tokens and Rewards Early Users
OpenSea is evolving beyond its NFT marketplace roots, announcing plans to integrate fungible tokens into its platform. CEO Devin Finzer framed the MOVE as a strategic shift toward becoming a universal trading hub. "This is just the beginning of our transformation, from 'NFT marketplace' to 'trade everything,'" he stated on X.
The platform will distribute 50% of its new SEA token supply to community members, with significant allocations for early adopters and rewards program participants. Half of launch revenue will fund token buybacks, while SEA will serve as the ecosystem's governance and staking asset.
February's teaser about the SEA token culminated in this confirmation, though key details like total supply remain undisclosed. The transition builds on OpenSea's $2.6 billion March trading volume, over 90% of which came from token transactions.
