{"id":"opensea","hidden":false,"ipfs":"QmWzyQD36Hwf8oRHNGvC5xs8UEA9imGKqfRbATSQNK7waF","language":"en","transactionHash":"0x66ea2e548a06fccf5cc622cbea2690691f3ea7d740ae2a016c46b3f88c1bc446","created":"2022-08-20T17:13:29.863Z","updated":"2026-09-03T09:10:33.458Z","title":"OpenSea","summary":"OpenSea is a multi-chain digital asset marketplace for NFTs, tokens, and collectibles, with web and mobile trading and portfolio tools.","content":"**OpenSea** is a digital-asset marketplace founded in 2017, originally focused on NFTs and collectibles and now supporting token and collectible trading across more than 25 [blockchains](https://iq.wiki/wiki/blockchain) through its web platform and iOS and Android app.[\\[1\\]](#cite-id-6u0wn03v3xs)​[\\[20\\]](#cite-id-emsxzrl63d)​[\\[24\\]](#cite-id-0e97knmagr)​\n\n## Overview\n\nFounded in November 2017 by Devin Finzer and Alex Atallah, OpenSea began as an NFT marketplace for crypto collectibles, including ERC721 and ERC1155 assets, with a focus on buying, selling, trading, and discovering digital assets on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain). It has since expanded into a multi-chain marketplace for tokens and collectibles, available on web and mobile, with portfolio and cross-chain trading features.[[1]](#cite-id-6u0wn03v3xs)[[20]](#cite-id-emsxzrl63d)\n\nUsers can create their own customizable marketplace using the OpenSea software and set their own fees for their sales. The projects must be [ERC-721](https://iq.wiki/wiki/erc-721) compliant to be sold in the marketplace. Users can create auctions for items with any [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) of their choice. They must submit a contract on the platform in order to get their auction started. The application programming interface can show users market data with statistics and insights in the form of graphs so that users can see how their digital assets are trending. Users can sell their assets in packs, [airdrop](https://iq.wiki/wiki/airdrop) rewards to customers if so desired, and create lootboxes.[[1]](#cite-id-6u0wn03v3xs)\n\nThe platform remains one of the largest general marketplaces for crypto-collectibles like [CryptoKitties](https://iq.wiki/wiki/cryptokitties), [Decentraland](https://iq.wiki/wiki/decentraland), [Ethereum](https://iq.wiki/wiki/ethereum) Name Service (ENS), [Ethermon](https://iq.wiki/wiki/ethermon), [Enjin](https://iq.wiki/wiki/enjin), [Gods Unchained](https://iq.wiki/wiki/gods-unchained), [Axie Infinity](https://iq.wiki/wiki/axie-infinity), and many others.[[1]](#cite-id-6u0wn03v3xs)\n\nThe team comes from backgrounds such as Google, Pinterest, Stanford, and Palantir, funded by [Blockchain Capital](https://iq.wiki/wiki/blockchain-capital), Y Combinator, [Coinbase](https://iq.wiki/wiki/coinbase), Founders Fund, Blockstack, and 1Confirmation.[[1]](#cite-id-6u0wn03v3xs)\n\nOn top of buying, selling and trading, the platform allows its users to use the bounty system called Affiliate Program that would earn users a standard fee of 1%, although this 1% can be increased to 2.5%.[[1]](#cite-id-6u0wn03v3xs)\n\nIn October 2020, Messari Crypto conducted research that tracked the demand for NFTs, which includes digital art, collectibles, and in-game items, over the third quarter. It found the cumulative number of users who interacted with OpenSea surpassed 25,000 and that the platform saw a record of $2 million in total volume in September.[[7]](#cite-id-e952w2tz2es)\n\nPreviously, OpenSea was restricted to [Ethereum](https://iq.wiki/wiki/ethereum), the popular [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) platform that has been criticized for using a lot of computing power and wasting energy. In July 2021, OpenSea added transactions on the [Polygon](https://iq.wiki/wiki/polygon) (formerly Matic Network) platform, which enables transactions with no huge transactions fees related to computing usage. Over time, the company wants to lower transaction costs across platforms (as it has done with the addition of [Polygon](https://iq.wiki/wiki/polygon)), enable people to use whatever payment method they have, and then educate the market about NFTs. Users can use any crypto wallet they want with OpenSea.[[8]](#cite-id-lfb3xy8v9pk) Beyond [Polygon](https://iq.wiki/wiki/polygon), OpenSea has plans to integrate with [Dapper Labs](https://iq.wiki/wiki/dapper-labs)' [Flow](https://iq.wiki/wiki/flow) [blockchain](https://iq.wiki/wiki/blockchain), as well as [Tezos](https://iq.wiki/wiki/tezos).\n\nIn June 2021 alone, OpenSea sold $160 million in digital assets on its NFT marketplace, and it experienced a 45 times increase in volume growth during the first half of 2021 from just $8 million in sales in January. High-growth collectible avatar projects like [Hashmasks](https://iq.wiki/wiki/hashmasks), [Bored Ape Yacht Club](https://iq.wiki/wiki/bored-ape-yacht-club), and [Meebits](https://iq.wiki/wiki/meebits), which combine elements of art, [blockchain](https://iq.wiki/wiki/blockchain) tech, and social clubs, also took off on OpenSea in 2021.[[8]](#cite-id-lfb3xy8v9pk)\n\nOpenSea later expanded beyond its original NFT marketplace with OpenSea Mobile, a mobile product for tracking multi-chain portfolios and trading tokens and collectibles across blockchains.[[20]](#cite-id-emsxzrl63d)\n\n## OpenSea Mobile\n\nOpenSea released OpenSea Mobile to all iOS and Android users on October 20, 2026, following a beta. The app supports token and collectible trading across more than 25 [blockchains](https://iq.wiki/wiki/blockchain) and provides a noncustodial portfolio spanning multiple wallets. Its cross-chain trading feature lets users trade across chains without manually bridging assets. The social feed aggregates activity across apps and chains, while OpenSea Signals lets users attach notes to purchases for followers. Accounts synchronize with OpenSea’s web product. OpenSea said beta sign-ups exceeded 56,000 and that 76% of sign-ups were active, according to [The Defiant](https://iq.wiki/wiki/the-defiant).[[20]](#cite-id-emsxzrl63d)[[21]](#cite-id-xvn4tvy0t2)\n\nOpenSea charges 0.5% for token trades and 1% for collectible purchases; network fees may also apply. Its referral program gives referred users 10% off OpenSea’s fee on eligible token swaps. Referrers receive 25% of the fee OpenSea collects after that discount. Token swaps made in the app or on the website qualify; NFT trades do not qualify for rewards or the discount.[[20]](#cite-id-emsxzrl63d)[[22]](#cite-id-ro78xsjvj4)\n\nOpenSea said certain products are unavailable in the United States, the United Kingdom, and sanctioned jurisdictions.[[20]](#cite-id-emsxzrl63d)\n\n### Multi-chain marketplace\n\nOpenSea supported [Robinhood Chain](https://iq.wiki/wiki/robinhood-chain) on web and OpenSea Mobile from July 11, 2026, enabling trading in assets including Stock Tokens, NFTs, and [memecoins](https://iq.wiki/wiki/memecoins). On August 31, 2026, it added buying and selling [Solana](https://iq.wiki/wiki/solana) NFTs, extending its prior support for [Solana](https://iq.wiki/wiki/solana) tokens. OpenSea described Solana as the first non-EVM [blockchain](https://iq.wiki/wiki/blockchain) on the platform with complete NFT buying, selling, and bidding functions. On September 16, 2026, OpenSea began supporting [Circle](https://iq.wiki/wiki/circle)’s [Arc](https://iq.wiki/wiki/arc) on web and mobile for tokens, [stablecoins](https://iq.wiki/wiki/stablecoin), and NFTs. These expansions broadened the marketplace beyond its original Ethereum-focused NFT offering.[[23]](#cite-id-f4a9gzce0g)[[24]](#cite-id-0e97knmagr)[[25]](#cite-id-04juqhdov5)\n\n### Developer Partnerships\nOpenSea partners with developers to power their marketplace directly on OpenSea's infrastructure. This allows developers to focus on the core functionality of their [Decentralized application (DApp)](https://iq.wiki/wiki/decentralized-application) while benefiting from peer-to-peer trades on the marketplace as they receive a secondary sale fee any time one of their items is sold on OpenSea. OpenSea is currently the primary marketplace for Cheeze Wizards (a new game from [Dapper Labs](https://iq.wiki/wiki/dapper-labs)), MyCryptoHeroes (a Japanese RPG), the officially licensed Formula One racing game from [Animoca Brands](https://iq.wiki/wiki/animoca), and many others.[[4]](#cite-id-i7j2wt06a3e)\n\nIn September 2020, OpenSea announced that OpenSea data was integrated on the Roll app for creator rewards. This allowed users to view Opensea listings for NFTs available in a particular creator’s social money on their respective rewards page. OpenSea allows artists to add their currencies as a payment option on their storefront by filling out a simple form. Once the NFTs are listed for sale, buyers can purchase the items using a [Web3](https://iq.wiki/wiki/web3) wallet like [MetaMask](https://iq.wiki/wiki/metamask). To get hold of an artist’s social currency, users can earn on Roll or purchase it from an exchange like Uniswap if it’s traded. A few examples of social money issuers trading NFTs on OpenSea include:\n\n* HUE from Connie Digital, an artist at the intersection of technology, music, and digital art. An early social money pioneer.\n* SKULL from Skeenee, a Madrid-based tattoo artist with signature pieces featuring skulls and anatomy. One of Roll’s most active social money users.\n* WHALE from WhaleShark, one of the largest and most prolific NFT collectors in the industry.[[9]](#cite-id-29rawb9acmo)\n\nOn August 26, 2026, OpenSea announced an integration with [Perplexity Computer](https://iq.wiki/wiki/perplexity-computer) through an OpenSea connector. The connector provides cross-chain onchain market data on tokens, collectibles, NFTs, and activity across more than 25 chains, enabling [Perplexity Computer](https://iq.wiki/wiki/perplexity-computer) to answer questions using OpenSea data and cite OpenSea as a source.[[26]](#cite-id-kwzi6fyzld)\n\n### Architecture\n\nOpenSea is powered by the Wyvern Protocol, a set of robust [Ethereum](https://iq.wiki/wiki/ethereum) [smart contracts](https://iq.wiki/wiki/smart-contract) specifically designed for buying and selling unique digital assets. [[4]](#cite-id-i7j2wt06a3e)\n\n## Collector Drops\n\nIn June 2020, the platform announced OpenSea [Drops](https://iq.wiki/wiki/drop) - new and exclusive NFTs launches. [[10]](#cite-id-msdixf14wm)\n\n### Shawn Mendes\n\nIn February 2021, Canadian singer Shawn Mendes agreed to issue digital wearables on OpenSea in partnership with avatar company Genies. Mendes' collection of concert-style collectibles debuted on OpenSea on February 26, becoming the digital auction house's first \"digital goods drop.\" For his part, Mendes said proceeds of the sale would benefit a grants program for aspiring digital artists that his charity, Shawn Mendes [Foundation](https://iq.wiki/wiki/foundation), is backing. Mendes plans to incrementally release more Non-Fungible Tokens (NFTs) as his career develops. [[11]](#cite-id-rmrdin0sha)\n\nThis is what Mendes said about the collection:\n\n> “Inspired by my Wonder album, I’m dropping collectible Genie Moments to raise funds with an aim to amplify, uplift, and empower young digital artists who are using their talent to create positive, social change. I’ll be donating the profits from all collections to support the efforts of the Shawn Mendes [Foundation](https://iq.wiki/wiki/foundation), including our Wonder Grants program and a new pool of grants we’re launching with Genies to support young digital artists. We’re hoping this drop will enable young creators to prosper. In this drop, you can contribute to that cause while unlocking rare Wonder digital wearables for your own Genie.\" [[12]](#cite-id-uktpusq5eio)\n\n## Funding\n\nIn November 2019, OpenSea received a strategic investment of $2.1 million from [Animoca Brands](https://iq.wiki/wiki/animoca), gumi Cryptos, Stanford StartX, and David Pazdan from [MetaMask](https://iq.wiki/wiki/metamask). Many of the platform's existing investors also contributed alongside these strategic partners, include 1Confirmation, [Blockchain Capital](https://iq.wiki/wiki/blockchain-capital), Brad Flora from Y Combinator, and Dylan Field from Figma.[[13]](#cite-id-qxichir2529)\n\nIn March 2021, OpenSea announced their $23 million fundraise led by Andreessen Horowitz. Innovative angel investors and leaders such as Naval Ravikant, Mark Cuban, Tim Ferriss, Belinda Johnson, Ben Silbermann, Alexis Ohanian, and [Balaji Srinivasan](https://iq.wiki/wiki/balaji-srinivasan); crypto natives Standard Crypto, Linda Xie, [Avichal Garg](https://iq.wiki/wiki/avichal-garg), and [Flamingo DAO](https://iq.wiki/wiki/flamingo-dao); creators like 3LAU, RAC, and Justin Kan; and NFT thought leaders like Andrew Steinwold, [Metapurse](https://iq.wiki/wiki/metapurse), and Bill Lee were also taking part in the round. The platform's existing investors, including 1Confirmation, Pascal Capital, [Blockchain Capital](https://iq.wiki/wiki/blockchain-capital), Regan Bozman, Kevin Hartz and Dylan Field from Figma, continue to provide their support through their participation in this round. [[14]](#cite-id-r95gtexd1y)\n\nIn July 2021, OpenSea announced a $100 million raise led by Andreessen Horowitz, with participation from Coatue Management, along with Michael Ovitz, Kevin Hartz, Dylan Field, Kevin Durant, Ashton Kutcher, and Tobi Lutke. [[5]](#cite-id-j7o7tqczu9f) The funding amount means that OpenSea is a unicorn or startup with a $1 billion valuation, and joins a long list of crypto unicorns such as [Coinbase](https://iq.wiki/wiki/coinbase), [Animoca Brands](https://iq.wiki/wiki/animoca), and [Chainalysis](https://iq.wiki/wiki/chainalysis) to name a few.[[6]](#cite-id-5gudkbests)  With this capital, OpenSea will continue to scale its NFT platform, with an immediate focus on hiring engineering talent, expanding internationally to new markets and audiences, and overall making more ways users can easily access, buy, and sell digital assets.[[8]](#cite-id-lfb3xy8v9pk)  Kathryn Haun, a general partner at Andreessen Horowitz will also be joining OpenSea's board of directors. [[6]](#cite-id-5gudkbests)\n\n## SEA Token\n\nOn March 16, 2026, OpenSea co-founder and CEO Devin Finzer announced that the company was delaying the launch of its native token, SEA. The Token Generation Event (TGE) was originally slated for the first quarter of 2026, with initial steps planned for an event on March 30. The launch has been postponed indefinitely, with no new target date provided.[[16]](#cite-id-WFbx2DTApYngIQaL)[[17]](#cite-id-Iv3YtyOqVSMTwxuK)\n\nThe primary reasons cited for the delay were \"challenging\" market conditions across the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) sector. Finzer stated the company wanted to \"ensure every piece is in place\" to make the launch successful for the community, noting that the token \"only launches once.\" The OpenSea [Foundation](https://iq.wiki/wiki/foundation) plans to announce a new timeline only when it can provide a clear and deliberate schedule.[[18]](#cite-id-GiqUSB3apNAgFk6p)[[19]](#cite-id-XFRR2aT8KsTRcFo4)\n\nIn conjunction with the delay, OpenSea announced several updates. The platform's current rewards campaign structure, known as \"[Treasure](https://iq.wiki/wiki/treasure)\" waves, will be wound down, with the current wave being the final one. To address the missed TGE timeline, the company offered optional fee refunds for users who participated in reward waves three through six. Users who opt for the refund will have their associated \"[Treasure](https://iq.wiki/wiki/treasure)\" rewards removed, while those who keep them will have them considered for allocation at the future TGE. Additionally, OpenSea introduced a 60-day promotional period of 0% token [trading fees](https://iq.wiki/wiki/trading-fee), starting March 31, 2026, to encourage user engagement with its revamped platform.[[17]](#cite-id-Iv3YtyOqVSMTwxuK)[[18]](#cite-id-GiqUSB3apNAgFk6p)\n\nThe SEA token was first announced in February 2025 as a key part of OpenSea's strategy to evolve from an NFT marketplace into a broader multi-chain trading hub. The planned [tokenomics](https://iq.wiki/wiki/tokenomics) included allocating 50% of the total supply to the community, using 50% of platform revenue for token buybacks, and enabling users to stake SEA tokens.[[16]](#cite-id-WFbx2DTApYngIQaL)","recentActivity":"{\"items\":[{\"id\":\"0ae51a29-83ca-4076-aba3-3e356c81f78b\",\"title\":\"OpenSea\",\"description\":\"OpenSea is an online marketplace for buying and selling Non-Fungible Tokens.\",\"timestamp\":\"2026-03-16T22:31:42.307Z\",\"category\":\"NFTs\",\"status\":{\"icon\":\"RiGlobalLine\",\"label\":\"Wiki Updated\",\"iconClassName\":\"text-green-500\"},\"user\":{\"name\":\"0x51f01C580d4Bf9dE0E8d43F8bABa80512594D5e3\",\"address\":\"0x1E23b34d3106F0C1c74D17f2Cd0F65cdb039b138\"},\"button\":{\"label\":\"View Summary\",\"icon\":\"RiFileTextLine\"},\"summarySections\":[{\"title\":\"Introduction\",\"subtitle\":\"The introduction was updated to remove a statement and rephrase funding information.\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Removed the sentence 'OpenSea is a verified Brave (web browser) publisher.'\",\"Reworded information about the Series B funding to simplify the valuation. 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[[26]](#cite-id-Iv3YtyOqVSMTwxuK)[[27]](#cite-id-GiqUSB3apNAgFk6p)\",\"Mentioned the original SEA tokenomics plan, which included allocating 50% of the total supply to the community. 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