Non-fungible token (NFT) marketplace OpenSea has launched its new platform, OS2, concluding its beta phase.
The company said the updated platform allows full token trading across 14 blockchains, including support for fungible tokens on Solana. It also introduces tools that aim to enhance crosschain functionality. These changes signal a shift for OpenSea, positioning it as a more comprehensive platform beyond NFTs.
OpenSea chief marketing officer Adam Hollander told Cointelegraph that the platform always believed in a broader idea that everything onchain should be liquid and discoverable in one place.
“OS2 lets a collector mint an NFT on Solana, swap a gaming token on Ronin and buy a memecoin that was just created, all from a single wallet flow,” Hollander said. “Users were already juggling half a dozen DApps and bridges; we streamlined that experience.”
OpenSea exec says NFT tourists left while true users stayed
Despite a broader market cooling, OpenSea sees promising signs of user retention and growth. Hollander told Cointelegraph that while volumes may be down from its 2021 to 2022 peak, weekly unique collectors on OpenSea are up by 40% since January. He added:
“That tells us the tourists left, but the true users stayed, and they’re participating in more chains than ever.”
OpenSea’s data aligns with a broader trend among NFT buyers. Unique NFT buyers rose to 936,000 in May, up 50% from April’s 622,000. The month also saw NFT monthly volumes’ first uptick in 2025 after going through a five-month decline.
Hollander told Cointelegraph there’s still “real power” in provable digital ownership. “Once you can prove you own something onchain, whole industries open up,” Hollander added, pointing toward real-world assets (RWAs) gaining steam.
From April 15–22, NFTs on the RWA marketplace Courtyard, a platform that uses NFTs to tokenize physical trading cards, reached a sales volume of $20.7 million. This allowed Polygon to overtake Ethereum in weekly NFT sales.
“New tech is usually tried in one narrow way first and then evolves into far more powerful applications,” Hollander said.
Related: Exponential currency debasement: ‘You don’t own enough crypto, NFTs’
NFT business profitability depends on utility
Despite being down from the peak, the NFT space can still be profitable for teams with the correct strategy, Hollander told Cointelegraph.
“Profitability flows to businesses that keep adding real utility and options for users, which is why we remain the home for NFTs and are now investing in avenues like cross‑chain token trading,” Hollander said.
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