In this week’s newsletter, the non-fungible tokens (NFT) marketplace OpenSea teased the launch of its native token, SEA, and while many are undeniably interested in the upcoming airdrop, the community has expressed frustration over its mechanics. The NFT platform responded by pausing XP rewards for listing and bidding. In other news, blockchain game activity rose by a factor of three in January, according to DappRadar.
NFT market OpenSea teases token launch
The OpenSea Foundation shared an update on Feb. 13 related to OpenSea’s highly-anticipated airdrop, revealing the name of the upcoming token: SEA. The foundation did not specify when the token would be launched, but it clarified that it would be available to users in the United States.
The foundation also addressed previous concerns regarding airdrop eligibility, saying it would also consider the historical activity of OpenSea users, not just their recent activities. This was a direct response to community concerns about airdrop eligibility after OpenSea’s OS2 platform was launched.
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OpenSea pauses airdrop reward system after user backlash
As users flocked to OpenSea’s new platform, some community members were unhappy with their experience. NFT collectors said its XP system wasn’t helpful to artists, promoted wash trading and prioritized earning fees.
In response, OpenSea paused giving out XP for listing and bidding. The company said it would instead focus on XP shipments, a new mechanism introduced on Feb. 14. OpenSea CEO Devin Finzer said the project wants to support the space long-term and is considering the best path forward. Because of the change, buying and holding NFTs will earn more user points.
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Blockchain games see 3x YoY rise in activity for January: DappRadar
Web3 gaming, an industry that often integrates NFTs and other crypto aspects with traditional video games, saw a 386% increase in unique active wallets in January 2025 compared with January 2024, according to analytics platform DappRadar.
DappRadar analyst Sara Gherghelas said blockchain gaming is maturing, highlighting the space’s evolving token economies, layer-2 developments and AAA game collaborations. Gherghelas said the growth signals momentum and showcases the industry’s resilience despite short-term fluctuations.
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Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.
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