OpenSea Redesign and XP Rewards System

Just days after OpenSea's CEO teased a new version of the pioneering NFT marketplace, an NFT trader has shared an early look at the platform's redesigned interface.

NFT trader John.weth shared the early look at the marketplace on X, cautioning that the platform is still in beta and features are set to change. In the screenshots they shared, OpenSea teases an "XP" rewards system complete with a leaderboard.

"XP is more than a number — it's a testament to your progress. As you collect more, the true value becomes clear," the website says. In order to earn XP, users can list items from their profile or make bids on "top collections." The platform warns that users who attempt to game the leaderboard by creating "fake liquidity" may be penalized with a deduction or reset of their XP.

A loyalty program will boost XP for users who list their NFTs on OpenSea only, according to John.weth, and it appears top XP-earners in a 24-hour period will also receive a boost on their points, from 2.5x for the top 10 to 1.2x for the 51st-100th highest on the leaderboard. Though a tab on the screen teases "Retro" rewards, which likely refers to retroactive rewards given the main tab is labelled as "Season 1," no other details on retroactive XP earnings were shared.

Aside from the XP system, the major redesign of the marketplace, set to launch in December, appears to cater more to advanced traders than casual buyers in a reflection of 'pro trader' marketplace Blur and OpenSea's own Pro terminal, which launched in April 2023. However, a "Collector" toggle is also present, suggesting a simplified interface option that is not shown.

OpenSea has not released its own token, and speculation over the possibility of a token drop may be one reason why the platform has gained on its competitor Blur in recent months, The Block previously reported. The reveal of the XP system may hint towards an upcoming token drop, though the word "token" does not appear and the company has largely avoided discussing a potential token drop in public-facing messaging.