Original | Odaily Planet Daily ( @OdailyChina )
Author | Asher ( @Asher_0210 )
After experiencing multiple rounds of bull and bear markets and witnessing narrative changes, OpenSea is finally going to issue tokens. On May 30, OpenSea’s official Twitter account announced on the X platform that the OpenSea 2 ( OS2 ) platform has ended its testing phase and is open to the public. It also launched a new reward system called “Voyages”, where users can earn XP points by completing basic operations such as on-chain transactions. In addition, CMO Adam Hollander revealed that the SEA token will undergo a TGE after completing a series of product updates, but the specific timetable has not yet been announced.
Next, Odaily Planet Daily will analyze the newly launched OpenSea 2 token incentive system, how to participate in the interaction, and the community’s sentiment towards the NFT track.
New reward system for OS2
OpenSea was once the absolute leader in NFT trading platforms. Data shows that in March 2021, the transaction volume on OpenSea exceeded the $100 million mark for the first time, exceeded $300 million in July, and in August the figure increased by more than 10 times month-on-month to $3.44 billion. It was also in March of that year that OpenSea completed a round of financing of $23 million led by a16z, and many angel investors including Mark Cuban also participated in this round of investment.
Today, many years later, OpenSea is setting out again, trying to reconstruct the technology and experience through the new upgrade of OS2 and regain the attention of the market. OS2 is not a simple iteration, but the technology and experience foundation of the new generation of OpenSea. As an important part of this upgrade, OpenSea also launched a new user incentive mechanism. Users will receive XP (experience value) points after completing operations such as NFT display page creation, cross-chain transactions, and bulk purchases on the platform. These points will be used to redeem OpenSeas upcoming native token, SEA, in the future.
According to a long article published by Adam Hollander, Chief Marketing Officer of OpenSea on the X platform, although no clear time for the token launch was given, several factors that affect the token airdrop were explained, including:
Previously participated activities will be rewarded, but will be separated from this reward;
Although there is no leaderboard, it is important to gain XP points, and the tasks related to token interaction are worth focusing on;
Users can see their loyalty percentage on the rewards panel, which will play an important role in token airdrop rewards;
Severely punish bots that use XP points. Once discovered, token airdrop rewards will be cancelled.
OpenSea Odyssey Quest Interactive Tutorial
Task link entrance: https://opensea.io/rewards . After entering the task entrance, connect the wallet and bind the personal X account and Discrod account.
The XP tasks on OpenSea will be continuously updated, and they are all time-limited tasks. There are currently 4 tasks on OpenSea. According to feedback from community members, current problems such as interaction lag have been resolved, and it is worth completing them as soon as possible.
The tasks are mainly to swap tokens or scan NFTs on various chains, and only a single transaction of more than $5 is required, which is simple and easy to do. Since everyone buys and sells tokens or NFTs to complete tasks, dont stock up. Choose projects with relatively good liquidity and sell the interacted tokens and NFTs as soon as possible after completing the specified tasks.
The interaction is worth participating in, but you should think twice before buying coins
In the current downturn of the NFT track, I am afraid that few people really believe that OpenSeas 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 out the last bit of liquidity in the NFT track.
Today’s NFT ecosystem is already stagnant. On the one hand, several major trading platforms have fallen into silence: Blur’s popularity has dropped sharply, and almost no one mentions it; LooksRare’s official account has only updated one tweet this year; X2Y2 even announced the official closure of its trading platform on April 30. On the other hand, most blue-chip NFT projects have also fallen into silence. Pudgy Penguins is one of the few exceptions that still retains community popularity, while Azuki, Doodles, etc. have almost no follow-up actions after issuing coins.
In such a market environment, the interactive tasks launched by OpenSea are low-cost and short-time, and it is still worth participating in grabbing some wool. However, you need to be extra cautious about whether to buy tokens after the opening. After all, the current market sentiment is weak, and even the previously hottest sectors such as Meme Coin and AI Agent have cooled down significantly.
