The former largest NFT platform, OpenSea, has changed its development direction. The company is transforming into an aggregator for trading crypto assets on 22 blockchains, finally moving away from the digital art marketplace format.
From NFTs to tokens and memecoins
According to Forbes, the updated OpenSea now supports trading of any tokens — from NFTs to memecoins and classic cryptocurrencies. Liquidity is aggregated from decentralized exchanges like Uniswap and Meteora. The transaction fee is 0.9%, while users’ funds remain under their control.
The platform has switched to a non-custodial model and does not conduct KYC checks. Instead, the system uses TRM Labs solutions to analyze on-chain addresses and block suspicious wallets.
A pivot after the market collapse
The rebranding, led by CEO Devin Finzer, was a response to the deep decline of the NFT market. In two years, OpenSea’s revenues plummeted from $125 million to $3 million per month, and trading volume dropped by more than 90% from the 2021 peak. The company cut half of its staff and changed its focus.
“It’s impossible to fight a macro trend,” Finzer admitted.
According to him, the transition reflects a new “risky but dynamic” stage in the development of the crypto industry.
Revival of activity
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-145564" title="photo_2025-10-17_18-42-23" src="https://coinspot.io/wp-content/uploads/2025/10/photo_2025-10-17_18-42-23.jpg" alt="Despite the crisis, in October OpenSea recorded the largest trading volume in the past three years — $1.6 billion in cryptocurrency and $230 million in NFTs." width="718" height="496" srcset="https://coinspot.io/wp-content/uploads/2025/10/photo_2025-10-17_18-42-23.jpg 718w, https://coinspot.io/wp-content/uploads/2025/10/photo_2025-10-17_18-42-23-261×180.jpg 261w, https://coinspot.io/wp-content/uploads/2025/10/photo_2025-10-17_18-42-23-400×276.jpg 400w" sizes="(max-width: 718px) 100vw, 718px" / alt="Despite the crisis, in October OpenSea recorded the largest trading volume in the past three years — 
Despite the crisis, in October OpenSea recorded the largest trading volume in the past three years — $1.6 billion in cryptocurrency and $230 million in NFTs. For comparison, its former competitor Blur, which became popular due to zero fees, lost more than 90% of its activity.
Analysts attribute this growth to the new strategy: OpenSea stopped being a niche platform and became a universal gateway for crypto trading.
OpenSea 2.0 and its own token
The company, now based in Miami, has about 60 employees and is preparing to launch OpenSea 2.0. Plans include a mobile app and the release of its own token through an independent fund.
The goal, according to Finzer, is to make trading “as simple as on Robinhood, but fully self-custodial.”
What’s next?
OpenSea no longer wants to be a symbol of the NFT era. The new format turns it into a platform where real crypto market liquidity is concentrated. If the strategy works, the company could once again become a leader, but in a much broader segment of digital assets.
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