OpenSea announces three major new initiatives, planning to unveil the SEA Token economic model in early October.

OpenSea is making final preparations for the highly anticipated SEA Token, which is expected to unveil its tokenomics model in early October. This move marks the NFT market's acceleration towards becoming a comprehensive on-chain trading platform. In addition to the token launch, OpenSea has also announced other significant projects, including the launch of a new AI-driven mobile trading app and the establishment of a "flagship collection" fund aimed at collecting and preserving iconic digital artworks.

SEA Token rewards are entering the final stage, and the token economic model will be announced soon.

According to the official announcement from OpenSea, the details of the highly anticipated SEA Token's economic model will be unveiled in early October. As the final step before the Token Generation Event (TGE), OpenSea will start allocating 50% of all platform fees (1% from NFT sales and 0.85% from Token transactions) into a fund starting from September 15, for the distribution of millions of dollars in Tokens and NFT rewards.

To launch this reward program, OpenSea has injected a value of 1 million dollars worth of Optimism (OP) and Arbitrum (ARB) Tokens into the treasury. Users can enhance the level of their "treasure chest" by trading, completing daily tasks, and receiving surprise rewards. The level of these treasure chests will directly determine the share of rewards that users can receive upon the official release of SEA Token.

In addition, the OpenSea Foundation has also committed to providing a separate allocation of SEA tokens for early users of the platform, in recognition of their contributions to the historical development of the platform.

Brand New Mobile App and Cultural Investment Program

In addition to the update of the SEA Token, OpenSea also announced two other major initiatives:

OpenSea Mobile App: OpenSea is launching a new native mobile trading app powered by AI, which will enter the testing phase later this month. Thanks to its acquisition of Rally Wallet in July, the app aims to provide a seamless multi-chain experience, smart portfolio management, and integrated Token trading features, addressing the complexities of on-chain trading operations.

Flagship Collection: OpenSea has committed to investing 1 million USD to collect and preserve digital artworks of significant cultural importance. The first acquisition of this program is CryptoPunk #5273, which was purchased for approximately 65 ETH (around 285,000 USD). Future acquisitions will be guided by a committee composed of OpenSea's internal staff and external advisors, aiming to balance works from established artists and emerging creators.

Conclusion

OpenSea's announcements represent its evolution from a pure NFT marketplace to a multifunctional, user-centric on-chain trading platform. By integrating AI technology, offering a native mobile experience, and launching a community-centric Token model, OpenSea is attempting to reestablish its leadership position in the Web3 space. In the face of intense market competition, whether these initiatives can help it regain the trust and support of the community will be crucial for its future development.