Core Insights - OpenSea is set to launch its SEA token in Q1 2026, with 50% of the total supply allocated to the community [1] - The final phase of pre-token rewards began on September 15, allowing users to access reward treasure chests [2] - CEO Devin Finzer emphasized the importance of the SEA token, stating it is designed to be a lasting asset rather than a fleeting launch [3] Token Distribution and Revenue Model - Upon launch, approximately 25% of the total SEA supply will be distributed to community users, with an additional 25% to be allocated over time [3] - 50% of OpenSea's revenue at launch will be utilized for SEA token buybacks, and users will have the option to stake the token on the platform [4] - Specific details regarding community distribution are yet to be disclosed, but both long-term users and participants in rewards programs will be considered [4] Market Performance and Strategic Shift - OpenSea's trading volumes have rebounded, exceeding $2.6 billion in the current month, primarily driven by token trading rather than NFTs [5] - The company is transitioning from a focus solely on NFT trading to a broader platform that includes fungible tokens and meme coins [5] - OpenSea acquired the mobile trading application Rally to enhance its mobile experience, with plans to introduce perpetual trading features in the future [6]