OpenSea is ready to issue coins to return to the NFT market, first of all, Solanaization?

Will OpenSea have a chance to return to the past glory of the NFT market? Once the leading brand of the Ethereum NFT market, it was robbed of many users by Magin Eden, who came out later, and recently OpenSea announced the integration of the Solana chain on X, first testing the Solana token transaction, and then opening more cryptocurrency wallet permissions and restarting the NFT market.

OpenSea went straight up and down from the peak of the NFT market in 2020, and it took a full four and a half years to start accepting Solana, what does this belated update mean?

OpenSea is testing the Solana token exchange

OpenSea’s new version of OS2 is currently open in beta for some users to experiment with Solana tokens and memes like Fartcoin and DogWihat. OpenSea plans to launch more wallet support permissions in the coming weeks and plans to resell Solana NFTs.

OpenSea CEO Devin Finzer said that the integration of Solana is a major milestone, Solana has the most enthusiastic users and developers in the Web3 space, OpenSea announced on X that it will accept Solana tokens first, and then launch Solana NFTs, most Sol meme coins are currently tradable.

Just two months ago, OpenSea CEO Devin Finzer announced OpenSea’s revitalization plan at the OS2 platform conference, with the ultimate goal of launching the OpenSea Foundation’s native SEA token.

Devin Finzer told the media: This is a reimagining of all aspects of OpenSea, and the biggest highlight is that OpenSea is expanding from an NFT marketplace to a wider platform that can trade various things.

OpenSea previously launched Solana NFTs in early 2022, but due to competitors Magic Eden and Tensor gaining a foothold in the market, OpenSea has not received much attention to traffic and development, and the return of OpenSea seems to embrace Solana again, hoping to rekindle the hope of users who are dead committed to NFTs with the growing Solana community, but they originally held Ethereum NFTs of collectors may be a little unhappy.

OpenSea judicial investigation concluded, committed to promoting NFT framework

OpenSea also took responsibility on behalf of the Web3 industry and other NFT marketplaces during the time of the big cryptocurrency overhaul, submitting a letter to the SEC asking for a clear regulatory framework for the NFT market. OpenSea also urged Hester Peirce, head of the regulator’s new crypto working group, to confirm that the NFT market should not be subject to the rules of proprietary brokers and exchanges.

OpenSea had a brief encounter with regulators, and in August 2024 received a notice from the Commission warning of possible enforcement action against OpenSea. But in February, Finzer announced that the regulator’s investigation was over, just like the investigation of other major cryptocurrency companies, as President Trump took office and the new administration shifted to a crypto-friendly environment.

This article OpenSea is preparing to issue coins to return to the NFT market, first of all, Solanaization? It first appeared in Chain News ABMedia.