NFT Marketplace OpenSea Announces Eligibility For $SEA Airdrop

OpenSea, one of the world’s largest non-fungible token collection marketplaces, has announced the renewed eligibility for the upcoming $SEA airdrop, which is slated to launch sometime before the end of this year. The renewed eligibility for the airdrop appears just a few days after previous criteria faced massive criticism from the crypto community, forcing the NFT market platform to pause it.

In a February 24 site publication, the OpenSea NFT marketplace issued renewed eligibility for the upcoming $SEA airdrop. This highly anticipated utility token will be airdropped to active traders who regularly trade non-fungible token collection on the OpenSea NFT market platform. The NFT marketplace will also airdrop early OpenSea 2.0 waitlist registrants who have signed up for the earliest opportunity.

REMINDER: opensea $SEA airdrop eligibility.

Looking at this. Will you qualify for $SEA airdrop??? pic.twitter.com/lNrz6FrqHC

— LEO 🦁 (@LeonardJ_24) February 24, 2025

OpenSea Announces $SEA Airdrop Eligibility

The NFT marketplace has announced plans to airdrop historical users who have a longstanding with its non-fungible token market platform and seaport protocol. Lastly, the NFT marketplace OpenSea has pledged to airdrop its $SEA token to users with significant trading volume. This list will include those who have demonstrated considerable trading activity with the market platform.

The NFT marketplace OpenSea launched its updated marketplace “OS2” earlier last week and announced its upcoming $SEA airdrop. In preparation for the upcoming $SEA airdrop, the OpenSea NFT marketplace started allowing crypto and NFT users to farm XP tokens through bidding and listing NFTs. Unfortunately, traders exploited the XP system by engaging in high-frequency flipping of NFTs with minimal losses to maximize their XP rewards, intending to increase their $SEA airdrop eligibility.

Sadly, this form of wash trading pushed the OpenSea NFT marketplace volume to artificial highs, causing significant damage to NFT floor prices. The XP reward program stirred a heated debate on X (formerly Twitter), with traders accusing OpenSea of causing damage in the NFT market. In 2023, the NFT marketplace Blur launched a similar NFT reward program that fueled many traders to wash trade NFTs to increase their $BLUR airdrop eligibility, significantly damaging floor prices.

OS2 open beta is now live:

• A fully reimagined product built entirely from the ground up, for collectors and pros
• NFTs 🤝 tokens, brought together in one place
• Brand new, beautiful ways to explore — beyond just the floor
• 14 chains (welcome @flow_blockchain, ApeChain… pic.twitter.com/fTJT5eKsm2

— OpenSea (@opensea) February 13, 2025

In response to deteriorating floor prices and massive community backlash, the OpenSea NFT marketplace halted the XP token farming system last week. At the time, the NFT marketplace noted that the XP multipliers, which initially created a lot of disgruntlement, would be given to NFT collection holders who have held an NFT from a top-volume NFT project for more than three months. While addressing the controversy, Dfinzer, the CEO of OpenSea, remarked:

“We understand that there are a lot of strong emotions towards point systems, and that the NFT market as a whole is in a unique spot right now. we’re building OS to support this space long term, so we’re pausing this part of the rewards program while we think through the best path forward.”

What’s The Community Feedback?

The crypto and non-fungible token communities on X have applauded OpenSea for the updated $SEA farming. One of the users has noted that if the $SEA farming proves successful, it might ignite a new NFT bull run. Increased user engagement and trading volume could lead to rising prices and renewed enthusiasm within the global NFT community, fostering a positive market environment.

$SEA farming could boost activity short-term, but sustained growth depends on utility and user loyalty. If it’s just for speculation, it might fizzle out like @blur_io.

— ws nguyễn (@wussin_crypto) February 25, 2025

Moreover, another user believes that OpenSea’s launch of $SEA farming could attract new users and revive interest in NFTs, potentially catalyzing a market rebound. More users also strongly believe that introducing $SEA farming could boost the NFT market, but it’s uncertain whether it will be enough to kickstart a bull run. Some factors to consider for the next bull run include market sentiment, innovation, and competition.

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