OpenSea is a peer-to-peer marketplace for NFTs and, since its 2025 OS2 relaunch, for fungible tokens too. You connect your own crypto wallet, and trades settle on public blockchains. OpenSea does not hold your assets 1. It supports 22 blockchains, including Ethereum, Base, Polygon and Solana 4. Its main charges are a 1% fee on NFT sales and 0.5% on token swaps 2. OpenSea is owned and operated by Ozone Networks, Inc. Devin Finzer and Alex Atallah founded it in December 2017 110.
The OpenSea Terms of Service name Ozone Networks, Inc. as owner and operator, doing business as OpenSea 1. Finzer and Atallah founded the company in late 2017. It grew with the 2021 NFT boom: a January 2022 Series C raised $300 million at a reported $13.3 billion valuation 10.
The years after the boom were turbulent:
OpenSea is a private company. It has no publicly traded stock.
OpenSea is not a wallet or exchange. It prepares orders, and you sign them in your own wallet, such as MetaMask or Phantom 1. The help center also describes signing up with an email.
OS2 extends the same flow beyond NFTs:
Developers can use OpenSea's APIs under the same terms 1.
OpenSea's fee schedule on October 23, 2026 2:
| Action | OpenSea fee | Who pays / notes |
|---|---|---|
| NFT secondary sale | 1% | Built into the price shown to the buyer, so it comes out of the seller's proceeds |
| NFT mint in a primary drop | 10% | Charged on the mint |
| Token swap | 0.5% | 10% off with a referral code; swap providers may add their own fee |
| Perps trade | 0.01% | On top of Hyperliquid's trading fees |
| Private listing | 0% | Required creator earnings and gas still apply |
Three other costs sit on top 23:
Fees changed several times in 2026. Swap fees were 0% for 60 days from March 31, 2026, and OpenSea said a new fee system would follow 6. Check the help article before large trades.
You must be 18 or older. Teens aged 13 to 18 (16 to 18 in the European Economic Area) may use OpenSea only through a supervising parent's account 1. People in, or organized under, U.S.-sanctioned countries are barred, as are sanctioned persons 1. Disputes go to individual arbitration under New York law, and the terms include a class-action waiver 1. Perps are being rolled out in phases and are not available to everyone 5.
OpenSea announced a SEA token in 2025. It ran "Voyages" and Treasure-chest reward waves, funded in part by 50% of platform fees from NFT purchases and swaps 6. The token generation event set for March 30, 2026 was postponed with no new date. The OpenSea Foundation cited market conditions 7. The reward waves ended with Wave 6 on March 30, 2026. Users from earlier seasons could take an optional refund of fees paid if they gave up their accumulated Treasure 67.
Any message offering an "OpenSea airdrop" claim link should be treated as phishing unless OpenSea's official channels confirm it (crypto phishing).
Because OpenSea is non-custodial, most losses on the platform come from users signing malicious approvals or listings, not from OpenSea holding funds. OpenSea says it will never DM you first or ask you to send funds to fix a "failed" sale 2.
If NFTs are stolen, OpenSea will freeze trading of those items on its platform when you file a police report. The freeze lasts 90 days. Afterward the items are re-enabled with a "disputed ownership" label for up to 12 months 8. This does not reverse the on-chain theft. For context and a scored comparison, see the NFT marketplace ratings.
Hacks in DefiLlama’s public database are also scored as the security record on the OpenSea rating page.
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