OpenSea finally issues coin, interaction tutorial presented

Author: Asher

After experiencing multiple rounds of bull and bear markets and witnessing the evolution of narratives, OpenSea is finally launching its token. On May 30, OpenSea's official Twitter account announced on platform X that the OpenSea2 (OS2) platform has completed its testing phase and is now open to the public, alongside the launch of a new rewards system called "Voyages," where users can earn XP points by completing basic operations like on-chain transactions. Additionally, CMO Adam Hollander revealed that the SEA token will undergo TGE after completing a series of product updates, but no specific timeline has been announced.

Next, Odaily Planet Daily will analyze the newly launched OpenSea2 token incentive system, how to participate in interactions, and the community's sentiment towards the NFT track.

OS2 New Reward System

OpenSea used to be the "absolute first brother" of NFT trading platforms. According to the data, in March 2021, the transaction value on OpenSea exceeded the $100 million mark for the first time, exceeded $300 million in July, and in August, the number increased more than 10 times month-on-month to $3.44 billion. It was also in March of that year that OpenSea closed a $23 million funding round led by a16z, with the participation of many angel investors, including Mark Cuban.

Years later, today, OpenSea embarks on a new journey, attempting to regain market attention through the all-new upgrade "OS2," achieving reconstruction in terms of technology and experience. OS2 is not a simple iteration but the technological and experiential foundation of the next generation of OpenSea. As an important part of this upgrade, OpenSea has simultaneously launched a new user incentive mechanism. Users will earn XP (experience points) after completing operations on the platform such as creating NFT showcase pages, cross-chain transactions, and bulk purchases. These points will eventually be used to redeem OpenSea's upcoming native token — SEA.

According to a long post by OpenSea's Chief Marketing Officer Adam Hollander on the X platform, although no specific token launch time was given, several factors affecting the token airdrop were clarified, including:

• Rewards from previously participated events will be granted, but will be separated from the current rewards;
• Although no leaderboard has been set, earning XP points is very important, and tasks related to token interactions are worth participating in.
• Users can see their loyalty percentage on the rewards panel, which will play an important role in token airdrop rewards;
• Severe punishment for using bots to brush XP points. Once discovered, token airdrop rewards will be cancelled.

OpenSea Odyssey Task Interaction Tutorial

Task link entrance: X account and Discord account.

The XP tasks on OpenSea will be continuously updated and are all time-limited tasks. Currently, there are 4 tasks on OpenSea, and based on feedback from community members, the issues of interaction lag have been resolved, making it worthwhile to complete them as soon as possible.

The main task is to perform token swaps or sweep NFT on various chains, and only requires a single interaction of over 5 dollars, which is simple and easy to do. Since everyone buys and sells tokens or NFTs to complete tasks, do not "stock up"; choose projects with relatively good liquidity, and sell the interacted tokens and NFTs as soon as possible after completing the specified tasks.

Interaction is worth participating in, but think twice before buying coins at the opening.

In the context of the current downturn in the NFT track, I am afraid that few people really believe that OpenSea's coin issuance can bring about a "second rise", let alone reshape the future of the NFT market. More people tend to think that OpenSea is here to squeeze the last trace of liquidity out of the NFT track.

The current NFT ecosystem has become a stagnant pool. On one hand, the major trading platforms that once dominated have collectively fallen silent: Blur's popularity has plummeted, with hardly anyone mentioning it; LooksRare's official account has only posted one tweet this year; X2Y2 officially announced the closure of its trading platform on April 30. On the other hand, most blue-chip NFT projects have also fallen into silence. The small penguin Pudgy Penguins is one of the few exceptions that still maintains community engagement, while Azuki, Doodles, and others have had little to no follow-up actions after launching their tokens.

In such a market environment, the interactive tasks launched by OpenSea, although low-cost and time-efficient, are still worth participating in to "grab a wave of wool." However, one must be particularly cautious about whether to buy tokens after the opening. After all, the current market sentiment is weak, and even previously the hottest sectors like Meme and AI Agent have clearly cooled down.