OpenSea Adds Solana Trading Ahead of SEA Token Launch

As part of its ongoing effort to reshape OpenSea, the current leading Ethereum NFT marketplace is now offering Solana token trading to some of its closed beta users. 

OpenSea’s trading platform now lets some OS2 closed beta users trade Solana tokens, including the popular meme coins Fartcoin (FARTCOIN) and Dogwifhat (WIF).

While currently limited to select closed beta users, the platform aims to roll out access to more wallets in the coming weeks. It will also reestablish support for Solana NFTs soon, as well.

“This is a big milestone in our multi-chain journey. Solana has some of the most passionate users and builders in web3,” the platform posted on X. “Coins first, NFTs coming later. Most tradable now, more in a few weeks.”

The feature comes just two months after OpenSea CEO Devin Finzer unveiled the platform’s revitalization plans as part of its OS2 platform launch, which will eventually integrate the upcoming SEA token from the OpenSea Foundation.

“It’s sort of a reimagining of every surface of OpenSea,” Finzer told Decrypt in February. “The big highlight is really that we’re expanding from just being an NFT marketplace to really a broader platform for trading all sorts of things."

OpenSea previously added Solana NFT support in early 2022, but gained little traction as rivals Magic Eden and Tensor established a foothold on the market—capturing more than 87% of the market share all-time for Solana NFT trading, according to data from analytics platform Tiexo. 

Amid the company’s overhaul, OpenSea has also taken up the torch on behalf of the Web3 industry and other NFT marketplaces, submitting a letter to the SEC requesting clarity about NFT marketplace rules. OpenSea also urged Commissioner Hester Peirce, who leads the regulator’s new crypto task force, to affirm that NFT marketplaces should not be held to broker-dealer and exchange rules.

 NFT Revolution

OpenSea Foundation Token Airdrop Revealed for NFT Traders as Ethereum Marketplace Expands

The OpenSea Foundation on Thursday announced the upcoming launch of the SEA token to reward active, loyal, and historical users of OpenSea’s NFT marketplace and its Seaport protocol. While specific details about the token launch and allocation details are still forthcoming, a spokesperson for the OpenSea Foundation confirmed to Decrypt that users will not be required to complete know your customer (KYC) verification, and that U.S. users will be eligible to participate in the airdrop. Both detail...

The marketplace has a history with the regulator, revealing in August 2024 that it received a Wells notice from the Commission, which typically alerts entities of potential enforcement actions against them. 

But in February, Finzer announced that the regulator’s investigation had come to an end—much like probes into other major crypto companies—as President Donald Trump’s administration shifts to a more crypto-friendly agenda.

Edited by Andrew Hayward