OpenSea launches OS2 platform and introduces XP points system, market share drops from 90% to 33%.

PANews reported on January 28th that OpenSea officially launched its new platform, OpenSea 2.0 (OS2), introducing a new user interface and Experience Points (XP) system. The platform is currently in the private testing phase, with Gemesis Non-fungible Token holders having free priority access, while other users need to join the waiting list. It is reported that Gemesis Non-fungible Token was airdropped by OpenSea to users of its acquired Non-fungible Token platform Gem (now renamed OpenSea Pro) in 2023. OpenSea recently took a blockchain snapshot of 49,785 wallets holding Gemesis Non-fungible Tokens to confirm their early access qualification for the OS2 platform. There are rumors that accumulating XP may bring token rewards, but OpenSea has not yet clarified its usage, only stating that this is to promote platform activity. It is worth noting that OpenSea’s strategy is similar to the user incentive model previously adopted by its main competitor, Blur. However, OpenSea’s market share has dropped from 90% in 2022 to the current 33%. In January 2025, Blur’s trading volume on Ethereum exceeded $317 million, while OpenSea only reached $152 million. In addition, OpenSea halved its workforce in November 2024, and the CEO at the time said the company would strategically shift to the OS2 platform.