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Cointelegraph by Brayden Lindrea

OpenSea delays March 30 SEA token debut amid crypto market downturn and NFT slump

Nonfungible token marketplace OpenSea has postponed the March 30 launch of its SEA token, saying current crypto conditions are too difficult and the token is not ready. The token, first unveiled in October as part of a shift toward a multi-chain "trade everything" app, was meant to power fee discounts, creator rewards and governance. OpenSea is ending its Waves rewards campaign and offering certain users fee refunds as the broader NFT market cap has dropped from $3.2 billion on Jan. 15 to $1.62 billion.
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