OpenSea Tops In NFT Trading Volume After Teasing Token Launch

OpenSea, once the largest non-fungible token market platform, has boomed back to dominance, taking down its close market rivals Blur and Magic Eden non-fungible token marketplace. The resurgence appeared after the NFT marketplace introduced bold advancement steps and market strategies, which it believes will help it recover from a massive 98% drop in trading volume.

OS2 Beta NFT Marketplace Goes Live

On February 13, 2025, the OpenSea NFT marketplace development team, led by Mr. Dfinzer, the chief executive officer, announced that they had launched the beta version of their upcoming NFT marketplace. The OS2 beta is a fully imagined NFT marketplace, built entirely from the ground up for collectors and pros. The upgraded NFT marketplace will allow crypto users to trade NFTs and tokens together in one place.

OS2 open beta is now live:

• A fully reimagined product built entirely from the ground up, for collectors and pros
• NFTs 🤝 tokens, brought together in one place
• Brand new, beautiful ways to explore — beyond just the floor
• 14 chains (welcome @flow_blockchain, ApeChain… pic.twitter.com/fTJT5eKsm2

— OpenSea (@opensea) February 13, 2025

The upgraded NFT marketplace will also feature 14 new blockchain networks, including flow, Apechain, Soneum, and Berachain blockchain networks, with more blockchain networks on the way in the future. It will offer native cross-chain purchasing at 0.5% marketplace fees and 0% swap fees on the platform for launch. The NFT marketplace OpenSea has also teased a token launch, “$SEA.” While commenting about the crucial advancements made in the OpenSea, Mr. Dfinzer remarked:

The NFT bull market changed us. We got too corporate, too web2, and let fear of risk outweigh building for users. I decided we needed a complete reset. So, we went heads down and started rebuilding tech, product, and most importantly — culture. Fixing those foundations has been a lot of blood, sweat, and tears. But it’s been incredible to see the team transform.

The OpenSea NFT Marketplace top executive added:

The private beta testers know OS2 feels different. Our devs are in Discord fixing user issues at 3 a.m. during the holidays. We’re a smaller, crypto-native team merging 6x commits with half the team size. There’s that early-day energy where we’re all in it together. With the new $SEA token, OpenSea is taking the learnings from the space and getting it right.

The OpenSea NFT marketplace team, led by Finzer, hopes its new features will turn things around. However, the company has faced challenges like SEC scrutiny and competition from platforms like Blur and Magic Eden. In the meantime, whether these efforts will revive interest in NFTs in the marketplace remains uncertain, as many traders are shifting to fungible tokens and meme coins.

A lot is changing at @opensea:

• We're rolling out OS2 — a brand new OpenSea built from the ground up. NFTs 🤝 tokens.
• $SEA is coming from @openseafdn
• We're changing policies that didn’t make sense for web3: re-enabling locked items and delisted collections, and removing… https://t.co/RMeu2TQFMC

— dfinzer.eth | opensea (@dfinzer) February 13, 2025

OpenSea Tops The NFT Marketplace Chart

In response to the advancement’s announcement, OpenSea has seen increased trading sales volume and users. Data compiled by nftpulse.com, an on-chain crypto market data aggregator and non-fungible token explorer, shows that OpenSea has reclaimed the NFT market dominance. In the past 24 hours, the $18.7 million took 59.45% of the market share. In the past seven days, the OpenSea NFT marketplace has recorded a trading sales volume of $50 million, taking over 43% of the total market share.

Source: nftpulse.com, the NFT marketplace trading sales volume in the past 7 days

Blur, an Ethereum-based NFT marketplace that prioritizes feeless transactions and is renowned for offering crypto liquidity lending using NFT collections as collateral, and Magic Eden, the cross-chain NFT marketplace, are the second and third most-traded NFT market platforms this week. In the past 24 hours, the Blur NFT marketplace has recorded a trading sale volume of $6.8 million, taking 21.7% of the total market share. On the other hand, the Magic Eden NFT marketplace has raised a trading sales volume of $3.0 million, taking 9.6% of the total market share.