OpenSea

What OpenSea does

OpenSea, founded in 2017 and headquartered in New York, operates a multi-chain digital asset marketplace serving individual traders, collectors, creators, and crypto-native users worldwide. The platform was originally launched as an NFT-only marketplace but was rebuilt into a multi-chain trading hub through the OS2 platform launch completed in February 2025; it now supports 22+ blockchains including Ethereum, Solana, Base, Arbitrum, Optimism, HyperEVM, and Polygon, and facilitates both NFT and fungible token trading. Underpinning the marketplace is the proprietary Seaport Protocol, an open-source NFT trading protocol (with Seaport 1.6 released in January 2026), along with supporting products including NFT Creator Studio 2.0 for minting and managing collections, in-platform token swaps, cross-chain purchasing, curated drops, and a loyalty rewards system featuring XP, tiered Voyages, and Treasure Chests tied to the planned SEA governance token.

OpenSea generates revenue primarily through transaction-based fees on platform trades: currently 1% per NFT transaction and approximately 0.85% per token transaction, a structure introduced in September 2025 to fund the rewards program. The fee schedule has been adjusted repeatedly — from a historical 2.5% platform fee, down to 0.5% with the OS2 launch, then temporarily set to 0% for a 60-day period beginning March 31, 2026 amid market challenges. The go-to-market is product-led growth via the self-serve marketplace at opensea.io, targeting both individual traders and creators through creator tools (OpenSea Studio), featured drops, content marketing, and ecosystem partnerships. Named enterprise relationships include Yuga Labs (designated OpenSea as its official marketplace for Bored Ape Yacht Club in October 2025, following a 2023 split), Pudgy Penguins, Kanpai Labs, Courtyard.io, Pixion Games (Power Protocol), and CT3, alongside a broader long-tail of individual collectors and traders globally.

The company completed a $100 million Series B in July 2021 led by a16z and a $300 million Series C in January 2022 at a $13.3 billion peak valuation co-led by Coatue and Paradigm, with Haun Ventures participating. Subsequent compression was severe, with Coatue marking down its stake by approximately 90% by Q2 2023 and reported quarterly revenue collapsing from $264 million in Q1 2022 to $11,000 by Q3 2024. Through the OS2 rebuild, multi-chain expansion, and aggressive fee reduction, NFT market share recovered from a 29% low in early 2025 to approximately 46.8% by 2026 and 51% at a late-2025 point. The company cut 20% of its workforce in January 2026, indefinitely postponed the SEA token launch from its originally planned March 30, 2026 date, and reintroduced a temporary zero-fee period amid prolonged trading volume weakness, with monthly volumes ranging from $81 million to a $3.7 billion record high within early 2026 alone.

Name

OpenSea

Legal name

OpenSea, Inc.

Website

https://opensea.io

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

OpenSea, founded in 2017, operates a multi-chain digital asset marketplace enabling users to discover, buy, sell, and trade NFTs and fungible tokens across 22+ blockchains, serving individual collectors, creators, and crypto traders worldwide.

Ownership category

akta.pro rank

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. NFT Transaction Fees: OpenSea charges platform fees on NFT sales transactions, historically 2.5% which was reduced to 0.5% with OS2 and temporarily to 0% for 60 days during restructuring periods
2. Token Trading Fees: Fees charged on fungible token trades on the platform, approximately 0.85% per token transaction
3. Marketplace Commissions: Revenue from facilitating NFT and token trades across multiple blockchains, with over 90% of trading volume now coming from token trades rather than NFTs

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

OpenSea operates a self-serve, multi-chain digital asset marketplace where users discover, buy, sell, and trade NFTs and fungible tokens across 22+ blockchains. Revenue is generated primarily through transaction fees on these trades, and the platform is powered by Seaport Protocol, OpenSea's proprietary open-source marketplace protocol. Supporting offerings include NFT Creator Studio (minting/launch), a gamified Loyalty Rewards Program (XP, Voyages, Treasure), and token swap functionality.

Product overview

OpenSea is a multi-chain digital asset marketplace that has evolved from an NFT-only platform into a broader 'trade everything' trading hub. The core offering consists of the OpenSea Marketplace (the primary platform at opensea.io) powered by the Seaport Protocol (an open-source NFT trading protocol, with Seaport 1.6 released January 2026). The OS2 platform rebuild (2025) expanded the platform to support 20+ blockchains with cross-chain purchasing and fungible token trading. Key supporting products include NFT Creator Studio 2.0 (for minting and launching collections), NFT Drops (curated mints), Token Swap (in-platform token exchange), and the Loyalty Rewards Program (XP/Voyages/Treasure tied to the planned SEA token). OpenSea has expanded via acquisitions — notably Rally (mobile wallet, July 2025) for mobile trading capabilities and AI-powered tools — and integrations including CT3's on-chain commerce ecosystem (NFT access keys) and $POWER gaming token payments. The platform has also launched specialty offerings including AI Toy Mint (Meetbit), an NFT Reserve ($1M cultural collection), and teased perpetual futures trading via Hyperliquid. The planned SEA governance token (Q1 2026 launch postponed indefinitely) would add community governance and fee discount utilities.

Differentiator

Problem solved

Functional benefit

Products and services

• OpenSea Marketplace (OS2) Core multi-chain NFT and digital asset marketplace where users can discover, buy, sell, and trade NFTs and fungible tokens across 22+ blockchains including Ethereum, Solana, Base, Arbitrum, Optimism, Polygon, HyperEVM, and Monad. Features include cross-chain purchasing, token swaps, and an integrated Loyalty Rewards Program.
• Seaport Protocol OpenSea's proprietary open-source NFT marketplace protocol that underpins the platform's orderbook and trading infrastructure, supporting cross-chain NFT and token transactions with improved gas efficiency and standardized contract architecture.
• NFT Creator Studio 2.0 Standalone creator toolkit enabling NFT artists, generative art creators, and collection deployers to mint, manage, and launch NFT collections across multiple blockchains from a single interface. Includes royalty configuration and global distribution.
• Loyalty Rewards Program Gamified loyalty system featuring XP (experience points), tiered Voyages, and a Treasure/Chest system. Users earn rewards by connecting wallets and completing platform activities across EVM, SOL, and Abstract chains. Includes a Loyalty % metric on user dashboards and anti-botting measures. Tied to the planned SEA token distribution.
• AI Toy Mint (Meetbit) AI-powered product combining NFTs with physical plush toys. Generates AI-created toy imagery as digital rewards tied to physical Viz plush products, supporting a broader NFT/crypto fan economy.

Quantifiable outcome

• 46.8% of NFT trading volume (2026)
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• HyperliquidcoreTechnology or Integration · 5 June 2026OpenSea confirmed integration with Hyperliquid for perpetual futures trading through its high-performance Layer 1 decentralized exchange. Early-access invitations have opened with no specific launch date announced. This expansion moves OpenSea beyond NFTs into DeFi and perpetual futures trading.
• Pudgy Penguins / Igloo Inc.minorGTM or Marketing Partner · 16 January 2026OpenSea partnered with Igloo Inc., parent company of Pudgy Penguins, to reward top marketplace users with Soulbound tokens (SBTs) as part of its fourth wave of rewards. Pudgy Penguins NFT collection floor price rose 2% in response to the integration.
• Yuga LabscoreStrategic or Co-development Partner · 14 October 2025Yuga Labs designated OpenSea as its official marketplace for Bored Ape Yacht Club and other NFT collections. This partnership follows their earlier split in August 2023 after disputes over creator royalties, with Yuga Labs previously working with other marketplaces.
• Kanpai LabsminorStrategic or Co-development Partner · 9 October 2025Kanpai Labs' Kanpai Pandas NFT collection partnered with OpenSea as its official marketplace. Following the partnership, the collection's floor price increased by 15% and trading volume doubled in the past 24 hours.
• Coinbase OneminorGTM or Marketing Partner · 14 September 2025OpenSea partnered with Coinbase One to deliver surprise shipments and promotional activities to users of both platforms.
• RallycoreTechnology or Integration · 18 July 2025OpenSea acquired Rally, a mobile wallet company, to boost mobile token trading capabilities. The acquisition accelerates development of new trading features including a mobile app with AI-powered tools and has begun allocating 50% of platform fees to a rewards vault.
• GemcoreTechnology or Integration · 25 April 2022OpenSea acquired Gem, a leading NFT marketplace aggregator, to improve services for experienced users and expand product features. Gem continues operating as a standalone brand while its advanced tools and expertise are being integrated into OpenSea's platform.
• Dharma LabscoreTechnology or Integration · 19 January 2022OpenSea acquired Dharma Labs, a crypto wallet company, for an estimated $110-130 million. Following the acquisition, Dharma Labs founder Nadav Hollander became OpenSea's CTO, with former CTO Alex Atallah transitioning to develop the web3 and NFT ecosystem.

Scale indicators16 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Binance NFT: Binance offers an NFT marketplace as part of its global crypto exchange, overlapping with OpenSea on trading and creator launches but anchored by Binance's liquidity and user base.
• Coinbase NFT: Coinbase operates a broad NFT marketplace within its much larger exchange ecosystem, overlapping with OpenSea's NFT trading customers but benefiting from Coinbase's distribution, custody, and fiat ramps.

Direct peers

• Blur: Blur is a leading NFT marketplace and aggregator optimized for professional traders, competing head-to-head with OpenSea on Ethereum-based NFT trading volume. Blur eroded OpenSea's market share to ~29% in early 2025, making it the most direct competitor by product, customer, and business model.
• Magic Eden: Magic Eden is a multi-chain NFT marketplace originating on Solana and expanding across Bitcoin, Ethereum, and Polygon. It directly contests OpenSea's NFT trading volume across chains with similar self-serve marketplace model and creator launch tools.
• LooksRare: LooksRare is a decentralized Ethereum NFT marketplace that rewards traders with its native LOOKS token, directly competing with OpenSea on fee model and trader incentives for the same NFT collector audience.
• X2Y2: X2Y2 is a community-owned NFT marketplace competing with OpenSea on Ethereum, offering lower fees and token-based trader rewards for similar pro-trader NFT collector customers.
• Rarible: Rarible is a multi-chain NFT marketplace with self-serve minting and aggregator functionality, directly competing with OpenSea on Ethereum and other chains for NFT traders and creators.

Emerging players

• Tensor: Tensor is a leading Solana-native NFT marketplace with pro-trader features that positions it as a key competitor for Solana NFT volume flowing through OpenSea's newer token/NFT rails.
• Hyperliquid: Hyperliquid is a high-performance decentralized perpetuals exchange that OpenSea is integrating to add derivatives trading. It represents both an emerging peer (as OpenSea expands into perps) and a strategic partner shaping OpenSea's next product line.

Others

• Uniswap: Uniswap is the dominant on-chain token swap protocol; as OpenSea expands into fungible token trading, it increasingly competes for the same token-trader audience, making Uniswap an indirect but consequential peer in the multi-chain trading space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/opensea
• Xx.com/projectopensea
• Facebookfacebook.com/projectopensea
• LinkedInlinkedin.com/company/opensea-io

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds7 records

Investors39 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments20 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OpenSea