Opensea trip has been thick and controversial. Startup, promoted by Y Combinator, quickly became a technical unicorn and an NFT area monopoly. By 2025, the Opensea Timeline became a “Uday and Fall” story.
On 13 February, the New York -based company announced the launch of a new version, OS2. Twisks address some concerns, ignoring others.
Despite losing the speed, the NFT (non-fangbal token) market is still alive. Long -term trend is far from being inspiring. Nevertheless, in 2024, the overall NFT trading volume reached $ 8.8 billion. The launch of the OS2 aims to flip the trend, which is hardly an easy task.
Opensea and NFT market crisis
After the decline in NFT market in 2022, media outlets started questioning whether NFTs were dead. In recent years, the region found a lot of negativity Many scams (Users lost millions of tens of dollars), security violations, insider trading, and alleged hypocrisy of those who claim NFT A money grab,
NFTs have been criticized by Crypto Bros and Crypto skeptics. Some people in the Crypto community think that NFT gave an disagreement to the Crypto sector, distracting people from innovation, while millions of dollars exposed new people for selling JPEG and risky investments. Many people who did not know much about Crypto began using the words “Crypto” and “NFT”, which join both fraud, risk, gambling, etc.
NFTS has more or less indicated in almost any charge, which applies to Opensia as it is in the form of dominating market in the region 90% market share At its peak, fell to 33% in 2025). As Verge articleAn employee of a former company compared all frauds, money grab and craze to “blood orgi” across the stage in 2022.
Crypto Bear Bazaar spoiled the company’s funds as it stored funds in Ether (ETH). It saw a severe price fall in 2022. The Rise of Blur and Magic Aden, strong competitive platforms contributed to the rapid decline of Openia. The company was looking for new directions and methods of revival. At the same time, it continued a series of unexpected trimmed. Additionally, SEC removed a battle on NFTs and Opensea, one of the goals.
While the NFT market made headlines and shrunk to a large extent, Openia has turned into a shaking surgeon with a monopoly. The platform revamp was important and, finally, we would see a new version of Opensea.
What will change with the launch of OS2?
The platform received a total update. The main direction is switching to a web 3 radius. Now, it allows trading of both fungi and non-fungting tokens. The OS2 originally works in various chains, eliminating the need to bridge or swap tokens. The aim of long -term launch of an Opensea token ($ ocean) is to promote long -term stability.
Users and beta examiners shared their first impressions and completed the announcements positively. Some say they lack the previous characteristics such as discovering sales by characteristic, but generally, the update was fulfilled with support.
Critics blamed security issues and literary theft for ruining Opensea’s user experience official announcement Hardly touches these issues. In addition, Opensea founder Dewin Finner emphasized a more chaotic approach on social media.
“NFT Bull Bazaar replaced us,” Finzer said. “We found a lot of corporate, very web 2, and fear of building more than risk for users.”
Given how Opensia handled various security issues during its best days, the absence of the security segment in the declaration is disappointing.
It seems that there may be an attempt to outsource safety to eliminate switch users on web 3. Hopefully, updates on security will be followed soon.
Possibly the declining market share of Opensea and the overall decline of NFT craze can facilitate the company a safe and healthy user experience.
The Crypto-Freedy Climate-US also determines a good background with Paul Atkins nominated by President Donald Trump to serve as Chairman of the Securities and Exchange Commission. It remains to be seen whether Opensea Revamp has the ability to become a return story.
