Core Insights - OpenSea will launch its SEA token in Q1 2026, with 50% of the total supply allocated to the community and early users [1][3][9] Token Utility and Revenue Model - The SEA token will be integrated into OpenSea's ecosystem, allowing users to stake SEA behind their favorite collections, while 50% of the platform's revenue will be used for SEA token buybacks [4][9] - This dual approach aims to enhance token utility and long-term value within the marketplace [4] Market Positioning and Trading Volume - OpenSea is transitioning from a focus on NFTs to a multi-chain trading aggregator, now supporting 22 blockchains and recording $2.6 billion in trading volume for the month, with over 90% from token trading [5][9] - The platform's trading volume has seen a significant decline from its peak, with the total market capitalization dropping from $20 billion in early 2022 to approximately $4.87 billion by October 2025 [6] Revenue Generation - OpenSea generates around $16 million in revenue through a 0.9% transaction fee by aggregating buy and sell orders from decentralized exchanges [7] - At the height of the NFT market in January 2022, OpenSea's monthly revenue reached $125 million, with a valuation of $13.3 billion [8]