OpenSea Doubles NFT Fees Ahead of SEA Token Launch

OpenSea is raising its NFT minting and trading fees by 100% ahead of its SEA token launch, impacting Ethereum-based transactions. This change aligns with OpenSea’s goal of optimizing platform funding. Half of the increased fees will be allocated to an NFT reserve and user rewards tied to the SEA token, aiming for enhanced platform sustainability. Experts anticipate this fee adjustment could potentially slow down market activity on the largest NFT marketplace. 50% of fees now support the SEA token, with OpenSea allocating $1 million in OP and ARB tokens, hoping to boost engagement and reward users for contributing to the ecosystem.