OpenSea Reinvents Itself as Crypto Aggregator Amid 90% NFT Volume Crash

OpenSea, once the face of the NFT boom, has undergone a dramatic transformation as the sector sees trading volumes collapse by more than 90% from their 2021 ￰0￱ NFT marketplace has rebranded itself as a multi-chain crypto trading aggregator, expanding beyond digital collectibles into the wider world of token ￰1￱ CEO Devin Finzer, OpenSea has pivoted toward becoming a “trade-any-crypto” platform that now supports 22 ￰2￱ shift follows one of the sharpest declines in the NFT sector’s history, a market that once reached a $20 billion capitalization in early 2022 before plunging to roughly $4.87 billion by October 2025, according to CoinGecko .) April 27, 2025 OpenSea’s Trading Volume Hits 3-Year High as Platform Reinvents Itself At the height of the NFT frenzy in January 2022, OpenSea generated $125 million in monthly revenue and was valued at $13.3 billion, making it one of the most valuable startups in ￰3￱ by late 2023, as interest in digital collectibles evaporated, its monthly revenue had fallen to just $3 ￰4￱ company was forced to lay off more than half of its staff , shrinking from about 175 employees to around 60 ￰5￱ downturn was accelerated by competition from rival marketplace Blur, which captured traders with zero fees and no royalties for creators .

OpenSea’s response, loosening its own royalty structure , backfired, sparking backlash from artists and collectors who accused the company of abandoning its ￰6￱ dwindling market share and financial strain, Finzer initiated a major ￰7￱ company has since relocated its headquarters to Miami, with most staff working remotely. Additionally, in the first two weeks of October 2025, the company handled $1.6 billion in crypto trades and $230 million in NFT transactions, its biggest month in more than three ￰8￱ crossed $2.6B in trading volume this month, with over 90% from token ￰9￱ is just the beginning of our transformation, from “NFT marketplace” to “trade everything.” NFTs were chapter one for ￰10￱ 2021, OpenSea brought the first wave of everyday internet users… — ￰11￱ | opensea (@dfinzer) October 17, 2025 Also, in an X post, Finzer noted that OpenSea saw massive demand with about $2.6 billion in trading volume this month, with over 90% from token ￰12￱ Prepares Token Launch, Eyes Recovery After NFT Market Collapse OpenSea’s resurgence comes amid shifting investor appetite across the digital asset ￰13￱ Bitcoin and other cryptocurrencies have rallied, NFT trading remains a fraction of what it once was.

Blue-chip collections such as Bored Ape Yacht Club have seen floor prices tumble from around $400,000 at their peak to about $32,000.