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    OpenSea Dismisses NFT Shift, Claims It’s Adapting to ‘Trade Anything’

    Ethan CarterBy No Comments3 Mins Read
    OpenSea Dismisses NFT Shift, Claims It's Adapting to ‘Trade Anything’

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

    In a post on X this Friday, Finzer declared that OpenSea’s trading volume for October surpassed $2.6 billion, with over 90% attributed to token trading, marking the start of the platform’s shift towards “trading everything.”

    “We’re developing the universal interface for the entire onchain economy — tokens, collectibles, culture, both digital and physical,” Finzer told Cointelegraph. “The aim is straightforward: if it exists onchain, you should be able to trade it on OpenSea, effortlessly across any chain, while retaining full control of your assets,” he added.

    OpenSea was the inaugural major NFT marketplace, establishing itself in 2017 as a venue for buying, selling, and trading a variety of non-fungible tokens. The platform remained a leader in the sector until early 2023 when it lost traction due to a blend of the overall NFT market decline and the emergence of a significant competitor, Blur.

    In April of this year, OpenSea reclaimed its position in the NFT market, capturing over 40% of the total trading volume for that month. Currently, OpenSea stands as the leading NFT marketplace with a market share of 51%, as reported by data tracker NFTScan.

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    OpenSea re-establishes its dominance in the NFT market. Source: NFTScan

    Related: OpenSea Launches NFT Reserve Following CryptoPunk Acquisition

    Transitioning from NFTs to an onchain trading platform

    Finzer indicated that OpenSea is now positioning itself as the “interface layer for the entire onchain economy,” incorporating token trading, swaps, and portfolio management across 22 blockchains.

    He noted that users of the platform were managing multiple wallets, bridges, and interfaces just to oversee their portfolios. “We realized that the same infrastructure expertise that streamlined NFT trading could also unify all onchain trading. Now, users can swap from Solana to Ethereum, trade any token, manage any asset, all in one place, without the complexity,” Finzer stated.

    The CEO emphasized OpenSea’s role as an alternative to both centralized and decentralized exchanges. “Unlike CEXs, you retain your keys. Unlike DEXs, the complexity is hidden,” he explained. “We consolidate liquidity across 22+ chains into one cohesive experience.”

    However, Finzer rejected the perception that NFTs are now merely ancillary. “Everything onchain is fundamental to our business model — that’s what ‘trade everything’ signifies,” he clarified.

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

    Related: OpenSea Broadens Horizons Beyond NFTs with OS2 Public Rollout

    Upcoming Mobile App and SEA Token

    OpenSea has confirmed its plans to launch a new mobile app before Q1 2026, which will offer instant crosschain swaps and portfolio tracking for mobile users. The company aims to bring “the entire onchain economy to your pocket,” making onchain trading “as effortless as checking Instagram.”

    Furthermore, the OpenSea Foundation aims to introduce its SEA token in the first quarter of 2026 to facilitate governance and ecosystem participation.