Morning Minute: OpenSea Says SEA Is Coming Q1 2026

Core Insights - OpenSea has announced the launch of its SEA token, expected in Q1 2026, marking a significant shift from being solely an NFT marketplace to a broader crypto exchange [2][3] - The company reported a trading volume of $2.6 billion this month, with over 90% attributed to token trading rather than NFTs [2][3] - The SEA token will allocate 50% of its supply to the community through a claim program, linking platform growth to token demand by committing 50% of revenue to buybacks [3][4] Company Strategy - OpenSea aims to transform from an "NFT marketplace" to a comprehensive on-chain trading platform [4] - The company has undergone a complete overhaul, including a new team and technology stack, to regain market relevance and share [5][7] - Incentive programs have successfully helped OpenSea reclaim the top position in NFT market share, with a significant increase in trading volume [7] Market Context - The competitive landscape has shifted, with platforms like Blur and Magic Eden gaining traction, prompting OpenSea's strategic pivot [5][6] - The SEA token's launch and associated incentives are seen as crucial for maintaining user engagement and market position [7]