On this week’s publication, the non-fungible tokens (NFT) market OpenSea teased the launch of its native token, SEA, and whereas many are undeniably within the upcoming airdrop, the neighborhood has expressed frustration over its mechanics. The NFT platform responded by pausing XP rewards for itemizing and bidding. In different information, blockchain sport exercise rose by an element of three in January, based on DappRadar.
NFT market OpenSea teases token launch
The OpenSea Basis shared an replace on Feb. 13 associated to OpenSea’s highly-anticipated airdrop, revealing the title of the upcoming token: SEA. The inspiration didn’t specify when the token could be launched, however it clarified that it will be obtainable to customers in the US.
The inspiration additionally addressed earlier considerations relating to airdrop eligibility, saying it will additionally think about the historic exercise of OpenSea customers, not simply their latest actions. This was a direct response to neighborhood considerations about airdrop eligibility after OpenSea’s OS2 platform was launched.
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OpenSea pauses airdrop reward system after person backlash
As customers flocked to OpenSea’s new platform, some neighborhood members have been sad with their expertise. NFT collectors mentioned its XP system wasn’t useful to artists, promoted wash buying and selling and prioritized incomes charges.
In response, OpenSea paused giving out XP for itemizing and bidding. The corporate mentioned it will as an alternative give attention to XP shipments, a brand new mechanism launched on Feb. 14. OpenSea CEO Devin Finzer mentioned the mission needs to help the house long-term and is contemplating the very best path ahead. Due to the change, shopping for and holding NFTs will earn extra person factors.
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Blockchain video games see 3x YoY rise in exercise for January: DappRadar
Web3 gaming, an business that always integrates NFTs and different crypto facets with conventional video video games, noticed a 386% enhance in distinctive energetic wallets in January 2025 in contrast with January 2024, based on analytics platform DappRadar.
DappRadar analyst Sara Gherghelas mentioned blockchain gaming is maturing, highlighting the house’s evolving token economies, layer-2 developments and AAA sport collaborations. Gherghelas mentioned the expansion alerts momentum and showcases the business’s resilience regardless of short-term fluctuations.
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Thanks for studying this digest of the week’s most notable developments within the NFT house. Come once more subsequent Wednesday for extra studies and insights into this actively evolving house.
