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    OpenSea Dismisses NFT Shift, Claims It’s Transitioning to ‘Trade Everything’

    Ethan CarterBy No Comments3 Mins Read
    1760789611

    OpenSea’s CEO Devin Finzer has dismissed assertions that the company is steering away from non-fungible tokens (NFTs), emphasizing instead that the marketplace is “evolving” into a comprehensive platform for trading all types of onchain assets.

    In a post on X last Friday, Finzer shared that OpenSea’s trading volume in October surpassed $2.6 billion, with over 90% derived from token trading, marking the start of the platform’s shift to “trade everything.”

    “We’re creating a universal interface for the complete onchain economy — including tokens, collectibles, culture, and both digital and physical items,” Finzer explained to Cointelegraph. “The aim is clear: everything that exists onchain should be tradable on OpenSea, effortlessly across any chain, while ensuring you maintain full control of your assets,” he added.

    OpenSea, the first major NFT marketplace, launched in 2017 as a venue for the buying, selling, and trading of various non-fungible tokens. It dominated the space until early 2023, when it lost traction due to a combination of an overall NFT market downturn and the emergence of a significant competitor, Blur.

    In April of this year, OpenSea regained its position in the NFT market, securing over 40% of the total trading volume for that month. Currently, OpenSea holds the title of the largest NFT marketplace, with a market share of 51%, according to NFTScan data.

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    OpenSea has regained its dominance in the NFT market. Source: NFTScan

    Related: OpenSea Launches NFT Reserve with CryptoPunk Acquisition

    Transitioning from NFTs to an onchain trading hub

    Finzer articulated OpenSea’s new role as the “interface layer for the entire onchain economy,” incorporating token trading, swaps, and portfolio management across 22 blockchains.

    He noted that users were managing multiple wallets, bridges, and interfaces just to keep track of their portfolios. “We recognized that the same infrastructure expertise that unified NFT trading could integrate all onchain trading. Now, users can swap between Solana and Ethereum, trade any token, manage any asset, all in one location, without complexity,” Finzer stated.

    The CEO positioned OpenSea as a viable alternative to centralized and decentralized exchanges. “Unlike CEXs, you retain your keys. Unlike DEXs, the complexity is hidden,” he explained. “We pool liquidity across more than 22 chains into one cohesive experience.”

    However, Finzer refuted the notion that NFTs have become secondary. “Everything onchain lies at the heart of our business model — that’s the essence of ‘trade everything’,” he stated.

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    OpenSea CEO discusses the project’s shift towards “trade everything.” Source: Finzer

    Related: OpenSea Expands Scope Beyond NFTs with OS2 Public Launch

    Upcoming Mobile App and SEA Token

    OpenSea confirmed plans to launch a new mobile app before Q1 2026, aiming to provide instant crosschain swaps and portfolio tracking for mobile users. The company strives to deliver “the entire onchain economy to your pocket,” simplifying onchain trading to the level of checking Instagram.

    Moreover, the OpenSea Foundation will introduce its SEA token in Q1 2026, aimed at supporting governance and ecosystem engagement.