Nobody I know was happy about the @opensea chests program.
I expected to see a whole bunch of winners on the Timeline showing off their new Punk, Pudgy, or Fidenza.
So I started to dig in, to see who actually won.
Here's a list the top 20 winners from one of the prize wallets (0x1ebff5bf472ecce64304aefe223ade96f55926c5)
Some things that stand out to me:
1. One user spent $10 (1346XP) in fees and got a BAYC worth $32,000.
2. Another user spent $5900 (590,207XP) in fees got a Fidenza worth $128,000.
3. Finally, A top user spent $56,178 (5,617,855XP) in fees and got a Chromie Squiggle only worth $14,000 :(
If you guys like this data, let me know and I'll track down the other wallets for the remaining 44/64 grand prizes.
tut™
Call me crazy, but Opensea disappointing 99% of users so that 1% of them win a fun prize is a Lose-Lose. Drags sentiment for TGE too.
Treasure Chests are scratchers with a 50% rake.
IM LITERALLY SHAKING
Thank you @opensea
- $10K spent
+ $3.3K (NFT + tokens)
= MINUS $6.7K
I made it..
thanks for playing everyone, hopefully ill get a nice $SEA stimmy
Unsure why people are so mad about OS chest farming.
- “There’s multiple seasons???” - if you paid attention the team has said this on multiple occasions so anyone who was actually following wasn’t expecting a TGE in 2025
- “Farming chest doesn’t make up for the farming cost” - You’re not only farming the chest rewards but also farming for $Sea, if you don’t want to farm, no one held a gun against your head just don’t farm.
- “OS already collected 1 billion they should just TGE” - Most of the people saying this just want an airdrop so they can dump and move on. Most people aren’t noticing how the product has evolved. How different OS 2 is vs what the original product was.
- “They’re doing what blur was doing” - Blur was mindless bid farming, buying for the same price and dumping for the same weth offer price. It was much easier. For you to not take a loss with NFT trading requires some level of skill that Blur farming simply did not need.
- “OS is taking 1 percent fee and just funding rewards through that” - Firstly I appreciate that atleast some part of these fees are coming back to us. Secondly, they’re a fucking business. Not a non for profit organization. They’re here to make money just like all of us and business doesn’t run on charity.
And if you don’t like the above explanations then quite honestly you don’t need to do anything. Don’t farm. Don’t take part in the rewards. It’s not mandatory, it’s by choice.
You know why I campaigned so hard and get so mad at this @opensea predatory bullshit that no everyone on the timeline is crying about?
Because their platform is now actually fucking great.
Every improvement has been spot on, they are leaps and bounds ahead of the competition. From UX to compatibility to awareness campaigns and choices of collections to elevate. They are partnering with the right people.
Flawless execution.
Except for the most important thing.
They could crater the competition for good, create an insurmountable moat, align the userbase with a historical airdrop and TGE that keeps track of actual, organic historical usage and instead what do they do? Fucking Blur reloaded.
Dass right.
They doubled the fees on launch day of this promo, give you mistifying comms about one season no two no three no who knows, and then gave you ~40% rakeback that everyone on the timeline is now crying about. Meanwhile every single floor is bricked by the redacted farmooooors again.
Cause no one maths ahead. And everyone’s a dopamine addict and loves a gacha.
You’re still in time @HollanderAdam & crew: you have a best in class product, and just enough attention and goodwill to do the right thing. It’s simple: call the next one the last season, do a proper $sea airdrop, end this sharade and just help us all elevate NFT’s.
If nothing else, do it for your own math: you know you can sheer a sheep for life, but you can only skin it once. This economy is not sustainable. It’s a small and mostly dying niche. We can all do better than this, together.
@HollanderAdam Here is some feedback:
People do not want OpenSea to be a 'one-stop shop for onchain trading.'....They came to OS to buy and sell NFT's. Nobody is ever going to use OS to swap tokens etc via OS because of fees, people will go straight to Relay.
@HollanderAdam With all due respect Adam, RT'ing posts like this saying it will be similar to Blur season 1 (which dropped thousands to every user, and lifechanging money to some) And now after the farm ends you say "If you expected to make your money back thats on you" is a bit of whiplash
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