OpenSea User Growth Soars on Airdrop Expectations

Just over a week after the launch of OS2, OpenSea—the once-leading NFT trading platform—has unexpectedly recorded the highest number of users since mid-2023. This impressive comeback is driven by growing expectations for a potential airdrop of its own token, although the development team remains tight-lipped about the official release date.

According to data from Dune Analytics, in May 2025, OpenSea recorded 467,322 active wallets—the highest number since April 2023, equivalent to the vibrant NFT market period in mid-2022. This indicates that the platform is regaining strong appeal after a prolonged lull. By early June 2025, the number of users surpassed 236,000 and continues to grow, promising to soon break previous records.

However, despite the surge in users, the trading volume on OpenSea has not recovered as expected. In May 2025, the total value of NFT transactions reached approximately $81 million, while the most recent 24-hour figure stood at only $2.4 million—quite modest compared to the peak of $5 billion in January 2022. This suggests that users are mainly returning to increase interaction and “farm points” to qualify for the airdrop, rather than focusing on NFT trading.

On May 30, 2025, OpenSea officially launched OS2 for all users, ending the beta testing phase. From now on, users can fully enjoy new features such as minting and swapping NFTs cross-chain, sharing portfolios, viewing information, switching wallets, quick purchases, and many other utilities across 19 supported blockchains.

A standout feature of OS2 is the Voyages rewards system, allowing users to accumulate XP points through on-chain activities such as trading, listing NFTs, or interacting with smart contracts. These XP points are expected to be the main criteria for distributing SEA tokens in the near future.

Although no specific timeline has been announced, OpenSea continuously hints that rewards will prioritize active users on OS2. In a recent blog post, Marketing Director Adam Hollander emphasized:

We understand that everyone is eagerly awaiting answers to the question ‘wen TGE’. However, our priority is to refine the core features of OS2, ensuring that we provide sustainable value to the ecosystem. Only then will the SEA token truly realize its utility and longevity.

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