As the most popular place to buy NFTs and mint NFTs, OpenSea has grown at an impressive rate over the last year, but is there an OpenSea token?
The cryptocurrency world continues to expand, with new cryptocurrency tokens launching and establishing a foundation in the virtual world. Some of these are listed on Coinbase or other exchanges, with investors eager to find that new token that could make them rich.
With top NFT projects such as Bored Ape Yacht Club also releasing their own tokens with ApeCoin, the lines between NFTs and coins are merging closer. But does OpenSea have a token? Let's dive in.
Is There An OpenSea Token?
To answer your burning query, the answer is no. OpenSea does not have a coin or token of its own.
Often, NFT marketplaces may have their own token that they accept as a payment method. This is not the case with OpenSea.
The marketplace strictly accepts "core currencies such as Ethereum (ETH)/wETH, SOL, USDC, and DAI."
It claims to support over 150 payment tokens, but none of these is an OpenSea token.
However, while there isn't an OpenSea Token, there are some more sinister elements at play.
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OpenSea Token Scams On Uniswap
In February, OpenSea addressed news of an OpenSea token being sold on Uniswap. It stated OpenSea has not launched any native coin or token and is not associated with any such campaign.
There have been tokens that use OpenSea, but never actually endorsed or related. OpenDAO's SOS token, which launched in 2021, was airdropped to OpenSea users. It is now 85% down from its all-time high.
OpenSea advised people to join its community on Discord and Twitter to start updated with the recent trends and avoid falling prey to such hoax traps.