OpenSea Locks $12.​2M Wave 1 Rewards, Launches Wave 2 with $1M Boost

🏴‍☠️ $12M Treasure Awaits

By OpenSea
Oct 16, 2025, 3:15 PM
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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.​

Sources
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