Odaily Planet Daily report: NFT marketplace OpenSea has announced a delay to its highly anticipated SEA token launch. OpenSea CEO Devin Finzer stated on social media on Monday that the token generation event (TGE), originally scheduled for the first quarter of 2026, will be postponed, though no new launch date has been announced yet.
Finzer stated that the team has been fully focused on advancing the related preparations, originally planning to launch the issuance process at the March 30 event, but the OpenSea Foundation decided to delay the timeline. He admitted, “A delay is a delay—we won’t gloss over that. The current crypto market environment is challenging, and SEA will only be issued once, so we want to ensure all preparations are fully in place before launching.”
In October last year, OpenSea disclosed its SEA token plan, stating that 50% of the token supply would be allocated to the community, including early users (OG users) and participants in the platform’s reward program. Finzer also revealed that the current reward campaign will be the final round.
As previously planned, OpenSea intends to use 50% of platform revenue for token buybacks upon the token's launch and allow users to stake SEA to support their favorite NFT projects and collections.