OpenSea Locks $12.2M Wave 1 Rewards, Launches Wave 2 with $1M Boost
OpenSea Locks $12.2M Wave 1 Rewards, Launches Wave 2 with $1M Boost
🏴☠️ $12M Treasure Awaits

OpenSea has finalized its Wave 1 rewards program after generating over $2 billion in trading volume, locking in a $12.2 million prize pool of NFTs and tokens.
Wave 1 Distribution Details:
- Treasure Chests will enter "pending open" state soon
- 63 Grand Prizes available, with higher-tier chests having better odds
- Target distribution date: October 17
- All rewards will be distributed fairly through the chest system
Wave 2 Launch (Oct 15 - Nov 15):
- $1 million in $OP, $SOMI, and $ETH added to kickstart new pool
- 50% of platform fees continue funding rewards
- New Starter Chests available for leveling
Upcoming Wave 2 Features:
- More Voyage Types
- Increased Shipments
- New 13th Chest (currently locked)
- Enhanced loyalty incentives under consideration
NFT Liquidity Strategy: OpenSea is placing WETH offers on collections where they purchased 11+ items. Accepted offers will feed into the Wave 2 rewards pool.
The team is processing Wave 1 distributions while enabling Wave 2 starter chests.
After driving more than $2 billion in token trading volume over the last month, our final Wave 1 rewards pool now contains $12.2 million of NFTs and tokens, 100% of which will be distributed soon via your Wave 1 Treasure Chests! We've also added $1,000,000 of tokens to kick off
🎨 Checks Joins OpenSea Flagship Collection

**Jack Butcher's Checks VV** has been added to OpenSea's prestigious Flagship Collection, recognizing its impact on web3 art. Launched in January 2023, Checks began as an **open-edition experiment** exploring verification culture with the message: *If no one is verified, everyone is verified.* **Key mechanics:** - Holders can migrate editions to immutable originals - Merge multiple pieces to reduce check counts - Create rarer compositions, including the scarce Black Check The project transformed into a **living onchain system** where every action - burning, merging, composing - becomes art itself. Smart contract logic serves as the artistic medium. Beyond mechanics, Checks functions as a **cultural mirror**, critiquing online hierarchies while celebrating permissionless creativity. The community has co-authored its evolution through derivatives, physical art, and global exhibitions. OpenSea's recognition honors artwork that **redefined relationships** between artist and audience, code and culture. [Learn about Flagship Collection](https://opensea.io/learn/nft/the-opensea-flagship-collection)
🦕 Dino Gotchis NFT Collection Launches on OpenSea
**Dino Gotchis**, the official NFT collection from sleep-tracking app Sleepagotchi, is minting on OpenSea. **Key Details:** - Allowlist mint: 12pm ET - Public mint: 2pm ET - 7,777 total supply of sleepy dinosaur companions - Free mint for this debut collection The collection represents Sleepagotchi's first venture into NFTs, combining their sleep habit rewards platform with digital collectibles. [View collection on OpenSea](https://opensea.io/collection/dino-gotchis/overview)
🚀 Quick Sell
**OpenSea launches Quick Sell Percentages** - a new feature for faster NFT trading. **Key features:** - One-tap selling with preset percentages - No need to manually calculate amounts - More precise token swaps - Streamlined trading experience The feature addresses traders who want speed over deliberation, allowing them to **choose sell amounts instantly** rather than thinking through each transaction. **Now available** on OpenSea's platform for all users.
From Square to Blockchain Gaming: Proof of Play Co-founder Shares Web3 Strategy
**Adam Fern**, co-founder of Proof of Play, transitioned from fintech at Square to blockchain gaming innovation. Key insights from the interview: - **Fun-first approach**: Games should prioritize entertainment over crypto mechanics - **Invisible technology**: Web3 elements work best when seamlessly integrated - **Square lessons**: Applied payment industry experience to gaming infrastructure - **Mainstream adoption**: Focus on user experience rather than blockchain complexity Fern's background includes revolutionizing payments at Cash App before entering the gaming space. His philosophy centers on **durability and longevity** in an industry often driven by short-term hype. The interview explores how traditional fintech principles can enhance blockchain gaming development and user onboarding. [Read full interview](https://opensea.io/blog/articles/in-conversation-with-adam-fern-of-proof-of-play)