Devin Finzer, CEO of OpenSea, declared that the $SEA coin would be introduced in the first quarter of 2026. Half of the whole supply will be given to the community, with OG users and award participants receiving priority.
About 50% of platform income at launch will be utilised to purchase back $SEA, bolstering its value and ecosystem expansion. $SEA will also include staking tools linked to preferred tokens and collections.
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Quote from the CEO
He said, “OpenSea crossed $2.6B in trading volume this month, with over 90% from token trading. This is just the beginning of our transformation, from “NFT marketplace” to “trade everything.”
He noted that NFTs had been chapter one for them, and that in 2021, OpenSea had brought the first wave of everyday internet users on-chain. That includes collectors, artists, gamers, and musicians who had never opened a wallet before, had shown up on OpenSea and suddenly owned digital property.
He said the sequel was the destination for the on-chain economy in its entirety, which is to trade everything, tokens, culture, art, ideas, the digital and the physical, all in one place that felt like a home rather than a bank.
He added that building that product was in their DNA, and that users should not have to use a CEX and give up custody of their assets, nor should they need to navigate a maze of chains, bridges, wallets, and protocols, wondering whether their balance was on Solana, an Ethereum L2, or somewhere else.
The $SEA token
He then introduced $SEA from the OpenSea Foundation, saying that integrating $SEA into OpenSea would be an opportunity to show the world their vision and would shine a spotlight on everything they were building.
He stressed that they needed to make sure what they had built deserved that spotlight, not just for them, but for every holder who believed in what crypto could become, and that $SEA was not being created simply to be launched and forgotten.
He announced that the Foundation and OpenSea were jointly announcing a few updates, and the Foundation had confirmed that 50% of the supply would be allocated to the community, with more than half to be awarded via an initial claim.
Also, that both OGs and those who had participated in OpenSea rewards programs would be meaningfully considered separately, and $SEA would be deeply integrated with OpenSea, including the ability to stake $SEA behind users’ favourite tokens and collections.
Next Steps
He said that $SEA was not the destination but a crucial moment everyone would be watching, and that one only got one TGE. While the Foundation was wrapping up final details, they were getting OpenSea ready.
How these things turn out and how the token performs after launch is yet to be seen, but the plans of the CEO are very detailed, with the community waiting for the next steps in wrapped attention.