Legacy users have not forgotten ‘because opensea balancs newcomers, OGS leading to token launch

When the faces of the unimaginable tokens (NFT), the opening is in the middle of an investigation. The market that has helped turn digital collections into a global longing is trying to position itself as a web3 home where users may be seamless trading not only NFTs but also tokens and, ultimately, a wider range of defi activities and other on-chain assets.

Earlier this year, Openea announced that it would appear a sea token, creating a lot of hope around what the token would use and what the platform would be. Little is known about the token, but CMO’s Adam Hollander of Open Shared that The Opensea Foundation will release more details in early October.

In this conversation with CoinDesk, Hollander discussed how the platform was expanding beyond the NFT, the long-delayed sea token, and the challenge to keep both useful users and newcomers engaged in a crowded crypto market.

CoinDesk: In the revision of Opensea, who are you trying to compete with and where is this pivot heading?

Adam Hollander: I say that we widely want people to view Opensea as their web3 home, which means you should easily exchange any kind of owner with any chain or purse seamlessly and easily, regardless of your level of crypto experience.

So if you are someone who is in the trading of trenches every day, then we have a lot of powerful features for you. And if you are someone who does not have much crypto experience, then we will build a lot of it is very easy to use seamless features to injure you in crypto and make sure you can experience what is like trading tokens, NFT, other types of assets on-chain.

So if you are moving to the NFT market and incorporating the platform trading, what are some of the features you mentioned available?

We are the largest NFT market in the world. We hope we will always be the biggest NFT market in the world, and we care very much about customer base and creators and artists and thus we do not stay away from NFTs. We are emerging and expanding our platform so it can be a single place where you can come and exchange anything. Now the natural evolution of that in recent months is the token trading, and so you can get to the Opensea, and you can exchange fungible tokens today throughout 22 chains that are extremely seamless

But we are building new features, literally, during the day.

I’m not going to say that our vision is limited to tokens and NFT, there are a variety of really interesting things that people do today with a chain with real world properties and tokenization of things in the real world, anything from Pokemon cards to real estate.

And not to say that Opensea has immediate plans in any of these specific places, but we look at it as a single place you can call your web3 home for almost anything you do with the chain.

Given that the NFT volume is not close to the high dating, and given that the market exchange has become saturated, how do you plan to keep?

The volume today for the NFT is not what it is at the peak when, literally, Jimmy Fallon and the presidents and everyone talks about the NFT day -day. That said, there are many billion dollars in Q1 just this year’s NFTs. And so it is a lively market.

We really see significant upticks on the market over the course of the year. And when it comes to token trading and memecoins, and everything that happens in the chain, out of NFTs, there are hundreds of billions of dollars in the market, and the opening is to see significant growth.

Since we launched our new reward program, we saw almost 400% growing up just in Openea, and really eagerly for us, as it means we have built an incredible product.

The AirDrop announcement came from the Opensea Foundation 10 months ago. It has not been released yet, so why are people waiting so long?

The foundation releases the token. I will probably challenge the tokens that the tokens should be released quickly from the day they announced. There are many examples of tokens that have been -nint or even formally announced and have not really come out for many years and I will say that there is no right or wrong way to do so, except, of course, to prove that everything wants to happen right away, because everyone is excited to a reward place for all time and strength and honesty and quantity that they enjoy on an open -like site.

I will just tell you that it is very important for the Opensea Foundation that it is not a memecoin to be released and forgotten. If you look at most of the coins in your example, they tend to climb to the right very fast, and then they immediately go down to the right very fast.

And most of them, we’re not really talking about it, and that’s because they don’t really serve a goal. They were not released for any particular reason other than the company concluded, let’s launch a token. And people are always excited about the opportunity to have free money that falls on their heads, but at the end of the day, what matters to us is that the sea token needs to be an integral part of the Opensea ecosystem.

We are very intentional in our creative discussions with the foundation around ways that can be transprected, and much of what we are trying to do is innovative, and much of what the foundation is planning just takes time.

We believe we will release our token if it is time to release it. That is for what is right for the opensea, what is right for the community, what is right for macro reasons. There are a number of calculus entering there. When we release it, we believe that the market will appreciate that the Foundation and Openea are deeply thoughtful and consciously about the way this token should exist as a part of our ecosystem not as a memecoin to be released and forgotten, and hopefully as something with more staying power than the tokens used by people to see the airdropped.

There have been some chatter online from the OGS that may be angry with newcomers who can come to the platform and find ways to get free money, as the OGs have been stuck for years may not get their fair side.

How do you balance bringing new platform users and incentives them to stay on AirDrop post while also keeping your original seripell users who may feel like new people are looking for ways to make fast money?

Of course, appreciate all historic users who have pushed volume through the opening in the last seven to eight years, and we have a plan where we see those individuals, and the foundation believes they will be able to reward them appropriately.

We are also a business, we need to have the ongoing use of people on the platform and it is now one of their major crypto tools, and we also believe that we will be able to effectively reward people who are participating in our platform today and participating in our various stages of rewards. And so I’m just going to say that it doesn’t serve the Opensea or the foundation properly to have the entire cohorts of customers, if it is our lasting most loyal customers who are angry, nor does it serve properly to have people who are actively using the platform today.

And so we have a number of plans in the area that we think we can do a very good job of rewarding everyone in an effective way. I can’t speak to those details, other than to say, you know what we said in our announcements, that if you were in the opening for many years and you encouraged a lot of historical quantities, we see you, you haven’t forgotten. And if you are using a platform today and you are participating in our reward programs, then you will mean a TGE foundation.

Read more: Opensea is teasing the sea token with final phase of rewards in the middle of the app launch