OpenSea Reinvents with $1.6B Trades Across 22 Blockchains

• Pivot enables $1.6 billion in crypto trades through 22 blockchains as NFT volumes dive.
• OpenSea expands to multi-chain trading amid struggles in the NFT market.

On October 17, 2025, The Block disclosed that OpenSea, once the leading NFT marketplace, is undergoing a strategic transformation to become a multi-chain crypto trading aggregator. This shift comes in response to a significant downturn in the NFT market, which has substantially cut into the platform’s revenue and trading volumes over the past year.

The upgraded OpenSea platform now supports trading for various crypto assets, including NFTs, memecoins, and tokens, spanning 22 blockchains. By integrating with decentralized exchanges such as Uniswap and Meteora, the platform ensures liquidity while charging users a competitive 0.9% transaction fee for each trade.

OpenSea has adopted a non-custodial framework, allowing users to retain control over their assets rather than entrusting them to the platform. To meet compliance requirements, OpenSea partners with blockchain analytics firm TRM Labs to detect and flag potentially suspicious transactions and wallets. This system enables compliance without relying on traditional Know Your Customer (KYC) processes, maintaining the platform’s emphasis on decentralization while adhering to regulatory expectations.

According to CEO Devin Finzer, the company plans to launch “OpenSea 2.0,” a rebranded platform that emphasizes accessible crypto trading. The forthcoming version will include a governance token and a user-friendly mobile app designed to simplify self-custodial trading, resembling platforms like Robinhood while upholding decentralization principles.

This substantial pivot follows challenging times for OpenSea, which faced a decline in NFT trading volumes and significant revenue losses, leading to widespread layoffs. However, the new strategy appears to be yielding positive results. During the first two weeks of October 2025, OpenSea facilitated $1.6 billion in crypto trades along with $230 million in NFT transactions, achieving its highest monthly volume in over three years.

OpenSea’s reinvention reflects broader trends in the cryptocurrency space, where adaptability to market shifts is critical. By embracing multi-chain capabilities and decentralized trading, the platform is positioning itself to capitalize on emerging opportunities in the expanding digital asset landscape.