In 2017, Devin Finzer and Alex Atallah teamed up to launch OpenSea, an NFT platform for minting and selling digital collectibles. At the time, top historical collections like Cryptopunks and CryptoKitties went live for users to trade. Three years later, NFTs gained popularity in the crypto community, and according to The Block, OpenSea traded over $13 billion in 2021.
Fast forward to today, several shifts have occurred in the Web3 space. Various trends have come and gone, while some of them are slightly away from the trend. From Real-World Assets (RWAs) in 2023 to the PumpFun and memecoin market run of 2024, followed by perpetual DEXes such as Hyperliquid Momentum and Polymarket bringing the prediction market to the scene, it’s obvious that there are other major players in the ecosystem. Recognizing this, OpenSea launched its OS2 on May 29, 2025.
What is OS2 by OpenSea?
OS2 is the same as the OpenSea 2.0, launched in February 2025, as a leveler for the existing platform. The new version remodels the OpenSea interface and improves onchain accessibility. Users can now purchase NFTs across various blockchains without manual swaps or bridging. Beyond that, they can carry out other types of transactions, such as token trading and live analytics tracking. Newer networks like Berachain, Sonieum, Flow, and Apechain are also supported for usability purposes.
To ensure active interaction, OpenSea recently introduced a point-based reward system in the form of XP. The XP will serve as a prerequisite for the upcoming $SEA airdrop.
What is $SEA Token?
$SEA is the native token of OpenSea, set to launch in the first quarter (Q1) of 2026. The token was both confirmed by OpenSea’s CEO, David Finzer, and OpenSea Foundation as a utility token, which will be integrated into OpenSea post-launch.
OpenSea Token ($SEA) Tokenomics
OpenSea plans to use 50% of the total supply as a community reward. After the Token Generation Event (TGE), 50% of the revenue will be used to purchase $SEA as a form of buy-back.
The team claims that both past creators and traders (OGs) and those who are currently accumulating XP ahead of the final campaign will benefit from the airdrop.
OpenSea 2.0 Wave Periods
Two campaign waves have occurred so far: February 13, 2025 - October 15, 2025, and October 15 - November 15, 2025. According to the founder, Devin Fenzer, 50% of the platform’s fees went into the reward pool.
OpenSea Airdrop ($SEA) Reward Mechanism: How to Qualify
If you’ve traded on OpenSea before the NFT bear market or after, you should already be qualified for the OG reward, depending on your trading volume. Automatically, you will receive a “wood chest” to signify your eligibility.
To further increase your allocation, you can participate in leveling up your treasure chest. Here’s how to position yourself for the $SEA airdrop:
● Go to opensea.io/rewards
● Unlock “Chest”
● Connect your EVM-compatible wallet, such as Metamask, Coinbase, etc.
● Participate in daily voyages (missions or tasks).
● Get surprise drops, also known as shipments, throughout the wave. These shipments will be determined by your trading activity, token swaps, and your portfolio strength. However, receiving them during the campaign is not guaranteed.
● Don’t, Sybil, that is, use multiple wallets you own to position for the airdrop. Doing that results in automatic disqualification.
● Level up your chests by trading NFTs and swapping tokens for as low as $5. If you have much liquidity, consider bidding for NFTs, sweeping floors (buying multiple NFTs at once), or purchasing from top collections like Azuki, Pudgy Penguins, etc.
The more XPs you accumulate from missions, trading, etc., the higher your total chest. You can also level up your chest from tier 1 (Wood) to tier 12 (Solar) to increase your future allocation.
Difference Between Treasure Chests and Treasures on OpenSea
The treasure chest or everyday chests are users' rewards for actively participating in the OS2. They may consist of various tokens and NFTs. Beyond that, they usually have different levels and contain a treasure in them, which can increase your allocation at TGE.
Users who are participating in OS2 will get the treasure chest, which consists of tokens and NFTs, as a reward. Every single one of these chests has a different level, containing a treasure. Each of these treasures can increase your allocation at TGE.
Treasures, on the other hand, represent your overall achievement during the OpenSea temporary campaign period. This may include all XPs you’ve accumulated and the treasure chests level.
Airdrop Risks and Community Sentiment
After OpenSea’s top competitor, BLUR, launched its token in November 2023, the crypto community has been massively looking forward to an OpenSea airdrop ever since. While $SEA is a highly anticipated token, buzzes here and there continue to fill the online space with mixed signals.
For example, top creators like Nathanhead claim that the point experience is good enough, while others dispute it, claiming it’s an indirect method of enslaving users.
In response to the multiple criticisms of the point-based reward on X, OpenSea’s CMO, Adam Hollander, explained in his post that the major intention was to incentivize their users for contributing to the platform and promised to improve moving forward.
Conclusion
OpenSea 2.0 serves as an upgrade for an NFT platform that has existed for eight years. The company plans to launch its native-token, $SEA, in Q1 2026, but the major date is yet to be announced.
Nobody knows whether or not the $SEA allocation will be fairly distributed among OGs and current campaign participants. So, endeavor to farm the airdrop with due caution.
This article is contributed by an external writer: Olaseni Kehinde Precious.
Disclaimer: The content created by LBank Creators represents their personal perspectives. LBank does not endorse any content on this page. Readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.
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