OpenSea market share jumps to 71.5% after SEA token reveal

Opensea organized a spectacular return, recovering 71.5% of the Ethereum NFT market share in last week.

Only four weeks ago, its share amounted to 25.5%, with a blur dominating space. The block reports The fact that this increase coincides with the long -awaited announcement of Opensea of ​​his native token, SEA, on February 13.

Since the revelation of the tokens, the daily trading volume of Opensea has skyrocketed, with an average of $ 17.4 million, almost five times its pre-announcement of $ 3.47 million.

The number of daily transactions has also more than doubled, going from 6,100 to 14,700 trades. The majority of this growth occurred last week, because the market share of Opensea increased from 42.4% to 71.5%, largely at Blur costs.

OpenSsea has encountered obstacles in its deployment of incitement, despite the momentum. After users have accused the platform of promoting washing trading and giving priority on the production of costs on the real commitment of the ecosystem, it recently suspended its XP-based incentive system.

Devin Finzer, CEO of Opensea, recognized the criticism and said that the team re -evaluated its strategy even if the liquidity incentives are still crucial.

Instead of the XP system, Opensea introduced “XP expeditions”, a new model of rewards targeting the first adopters of its OS2 walk. Users who provided comments via Discord have already received the first batch of XP awards, while a second round is distributed to those who bought NFT on OS2. In addition, XP multipliers are available for those that have held high volume NFT collections for more than three months.

Although information About the SEA token is always limited, Opensea has declared that American users are eligible for the air card and that the allowance will be based on a previous platform activity, which could potentially compensate for the merchants who were active during Taurus race NFT 2021.