OpenSea CEO Devin Finzer rejected the notion that the company is pivoting away from non-fungible tokens (NFTs), stating that the marketplace is "evolving" into a universal platform for trading various on-chain assets.
In a post on X on Friday, Finzer announced that OpenSea's trading volume in October exceeded $2.6 billion, with over 90% coming from token trading, calling this the beginning of the platform's transformation into a "trade everything" model.
"We are building a universal interface for the entire on-chain economy—tokens, collectibles, culture, digital and physical," Finzer told Cointelegraph. "The goal is simple: if it exists on-chain, you should be able to trade it on OpenSea, seamlessly across any chain while maintaining full control over your assets," he added.
OpenSea, the first major NFT marketplace, launched in 2017 as a platform for buying, selling, and trading various non-fungible tokens. The platform has been a leader in the space until early 2023, when it lost momentum due to the overall NFT market crash and the rise of major competitor Blur.
In April of this year, OpenSea successfully reclaimed its leading position in the NFT market, capturing over 40% of the total trading volume for the month. As of the time of writing, according to data tracker NFTScan, OpenSea is the largest NFT marketplace with a market share of 51%.
Finzer stated that OpenSea is now positioning itself as "the interface layer for the entire on-chain economy," integrating token trading, swapping, and portfolio management across 22 blockchains.
He noted that platform users need to switch between multiple wallets, bridges, and interfaces to manage their portfolios. "We realized that the expertise in unifying NFT trading could equally unify all on-chain trading. Now users can swap from Solana to Ethereum, trade any token, manage any asset, all in one place without complexity," Finzer said.
The CEO positioned OpenSea as an alternative to centralized and decentralized exchanges. "Unlike centralized exchanges, you keep your own keys. Unlike decentralized exchanges, the complexity is invisible," he said. "We aggregate liquidity from 22+ chains into a seamless experience."
However, Finzer dismissed the idea that NFTs are now secondary. "Everything on-chain is at the core of our business model—that's what 'trade everything' means," he said.
OpenSea confirmed it is preparing to launch a new mobile app before the first quarter of 2026, bringing instant cross-chain swapping and portfolio tracking to mobile users. The company stated that it aims to bring "the entire on-chain economy to your pocket," making on-chain trading "as simple as checking Instagram."
Additionally, the OpenSea Foundation will launch its SEA token in the first quarter of 2026, which will support governance and ecosystem participation.
OpenSea's roadmap also includes perpetual futures, expanded mobile access, and "true cross-chain abstraction," allowing users to trade any token across any wallet or chain.
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Original article: “OpenSea Denies Pivoting from NFTs, Claims to be Evolving into ‘Trade Everything’ Platform”
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