A lot of people think OpenSea is moving away from NFTs, but that’s not really the case. According to CEO Devin Finzer, the company isn’t abandoning its roots — it’s expanding its vision. The goal now is to become a universal hub where users can trade every type of onchain asset, not just collectibles.
In a post shared on X, Finzer revealed that OpenSea recorded over $2.6 billion in trading volume in October, with more than 90% of that coming from token trading. He called this shift the start of a new phase — one where OpenSea becomes “the universal interface for the entire onchain economy.”
Finzer explained that if something exists onchain — whether it’s tokens, collectibles, or even digital culture — users should be able to trade it seamlessly on OpenSea. He said the platform is being designed to let people manage all their onchain assets across multiple blockchains while keeping full control of their wallets and keys.
For anyone who’s been around since the early days, OpenSea’s journey has been impressive. It launched in 2017 and quickly became the top marketplace for NFTs. Even though competition from platforms like Blur and a market-wide NFT slump hit it hard in 2023, OpenSea managed to bounce back this year, reclaiming more than 50% market share, according to NFTScan.
Now, Finzer says the platform is taking things to the next level. OpenSea is positioning itself as the “interface layer for the entire onchain economy,” connecting trading, swaps, and portfolio management across 22 different blockchains.
He pointed out that users have been struggling with multiple wallets, bridges, and tools just to manage assets. “We realized that the same infrastructure that brought NFT trading together could do the same for all onchain trading,” Finzer said. “Now users can move between Solana and Ethereum, swap tokens, and manage everything in one place — without the technical headache.”
He also emphasized that OpenSea isn’t turning into a centralized exchange. Instead, it aims to combine the best of both worlds — the simplicity of CEXs with the control of DEXs. “Unlike centralized exchanges, you keep your keys. Unlike decentralized ones, the complexity is hidden,” Finzer explained. “We’re aggregating liquidity from over 22 chains into a single smooth experience.”
From NFTs to an onchain trading hub
Finzer made it clear that NFTs still play a central role in OpenSea’s future. “Everything onchain is part of our model — that’s what ‘trade everything’ means,” he said.
Looking ahead, OpenSea plans to roll out new features, including perpetual futures, better mobile support, and true cross-chain abstraction — making it possible to trade any token across any wallet or chain.
In short, OpenSea isn’t walking away from NFTs. It’s building something bigger — a one-stop platform for the entire onchain economy.
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