OpenSea, the largest NFT marketplace, confirmed in a Sept. 9 update on X that details of its long‑awaited SEA token will be released in early October. The announcement outlined the final steps before the token generation event and comes alongside new cultural and product initiatives.
Today we're introducing:
— OpenSea (@opensea) September 8, 2025
- OS Mobile: a beautiful trading experience powered by AI
- Flagship Collection: honoring web3's cultural heritage
- Final Rewards Phase: 50% of platform fees funding millions in token & NFT prizes
- $SEA Update: details in early October
Learn more ⬇️ pic.twitter.com/EfsjucUeSR
Rewards program ahead of SEA token launch
The OpenSea Foundation stated that starting on September 15, 50% of platform fees, more precisely, 1% from NFT sales and 0.85% from token trades, will be transferred into a rewards vault intended to disburse millions in token and NFT incentives prior to the launch of SEA, as reported in its CMO Hollander Adam's X article.
The foundation noted that the rewards vault has already been seeded with $1 million worth of Optimism (OP) and Arbitrum (ARB) tokens. Users will be able to collect and upgrade gamified “Treasure Chests” through trading, daily quests, and surprise shipments. The final level of each user’s chest determines how much SEA they can claim once the token is live.
The foundation added that historical activity on OpenSea will also be rewarded through a separate SEA allocation for long‑time users. The governance vote that approved this model passed overwhelmingly, with nearly 860 million votes cast and 99.98% in favor.
OpenSea introduces cultural reserve
Alongside the SEA token update, OpenSea revealed the launch of the Flagship Collection, its first NFT reserve structured to preserve and showcase culturally significant pieces of digital art. Company representatives said the reserve represents a commitment of more than $1 million in acquisitions and began with the purchase of CryptoPunk #5273 for about 65 ETH, valued near $285,000 at the time of purchase on August 25.
Chief executive Devin Finzer explained the strategy by saying,
“We’ve always said NFTs are culture. The Flagship Collection is about picking the pieces we believe will stand the test of time.”
Chief marketing officer Adam Hollander added that the selection process is designed to highlight not only obvious cultural icons but also deserving emerging artists.
According to OpenSea, acquisitions will be approved by a committee of employees and external advisors operating under strict procedures intended to prevent leaks ahead of purchases. The stronger controls follow increased focus on internal oversight after former product manager Nathaniel Chastain was charged in the first NFT insider‑trading case in 2021. Chastain was initially convicted of wire fraud in 2023, but the ruling was overturned this past July, according to Reuters.
Mobile app and product revamp
As part of its “OS2” overhaul, OpenSea is also preparing to launch OpenSea Mobile, a trading app expected to enter beta later this month. The company said the mobile rollout will build on its July acquisition of the crypto portfolio app Rally Wallet, combining multichain support, portfolio intelligence tools, and AI‑driven trading features in one platform. Waitlists for the app and planned AI integrations are expected to open in the coming weeks.
Market backdrop and challenges
Although OpenSea continues to dominate NFT trading, the broader market remains subdued. Data from The Block Research shows NFT trading volumes are only a fraction of those seen at the peak of the 2021 bull market. Daily NFT mints, which once exceeded 450,000 during boom periods, are now reported to have fallen below 2,000 per day.
After briefly losing ground to rival marketplace Blur, OpenSea has regained its lead in recent months. By launching the SEA token, establishing its formal reserve, and expanding into mobile, OpenSea is positioning itself as both a marketplace and a cultural curator within Web3.
The final mechanics of SEA tokenomics, including allocation design, burn mechanics, and governance utility, will be published in October, marking the last step before distribution begins.
Matvii Diadkov
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