Along comes OpenSea’s OS2, heralding the new dawn. Reach out to learn more Active user numbers have increased tremendously! In May, the build jumped an amazing 44%, returning to heights not seen since the beginning of 2023. They’re bragging about simple swapping and no more bridging troubles. Sounds great, right? Let's not get caught up in the hype because here's the real question: who is actually benefiting? That picture is bleak, but it’s one we can no longer ignore.

Active Addresses Mean Actual Impact?

Let's be brutally honest. An increase in active addresses doesn’t necessarily mean a vibrant ecosystem. We’re starting to see echoes of that first boom ICO boom, where everyone was being “decentralized” but 95% of the projects burnt out. OpenSea's May 2025 volume did increase to $81 million, versus April's $60 million. Contrast that with the jaw dropping $5 billion high mark in early 2022. What is that? A joke? A mirage?

June 2025? Just $24 million as of June 6th. Stagnant.

It’s as if you threw a party, and everyone came—all your friends, all your family, the world—but no one purchased a drink. Yet all the increased foot traffic does nothing if the cash registers aren’t ringing.

Is OS2 just luring users for convenience of low-value transactions? So are free mints and airdrops just all the rage lately? None of these initiatives are even close to enough and they never reinvest sufficient money back into the creator ecosystem. Or are we simply looking at more repeat users making additional transactions?

Where's the Money Going, Seriously?

This brings us to the elephant in the room: Royalties. NFTs were invented in large part to give more power and control to creators. They give brands a more authentic connection to their audience and they protect artists by making sure they’re paid every time work is sold.

What's happening? Royalty payments are still in the dumps. The data is screaming at us: more activity, same problems.

The reality is that the key issue is still lacking — royalty enforcement. The OpenSea OS2 update may have unintentionally introduced loopholes that let users avoid paying royalty fees.

Building a successful NFT ecosystem will require the long-term and equitable compensation of creators. Without it, we’re just constructing a house of cards. It would be akin to asking farmers to grow food without compensating them for their yields. Utter madness with devastating consequences.

Forgotten Voices: South Asian Artists

Now, let’s talk about the people who are really feeling the pinch here: independent artists, especially those from underrepresented communities. Now, let’s get into some amazing South Asian artists. These artists are producing some spectacular content by mixing the best of old world artistry and new world technology. For most of these creators, NFTs are no longer the idiosyncratic but somewhat interesting experiment in a new platform for art—they’re a necessity. They’re one of the few ways to bypass traditional gatekeepers, to avoid discrimination, to obtain a decent paying wage and provide for their family.

When royalties are cut, they’re the first to feel the pinch. It’s not only the money, it’s respect, recognition and access to continue creating. It's about economic justice.

Now imagine spending three to four years in the creation of that art. You sell it and then you sit back as it’s resold four or five times and you’re not seeing a penny. That’s the harsh reality that too many of these NFT creators are coming back to.

We, the community, need to ask ourselves: are we okay with a system that prioritizes volume over value, that rewards flippers over creators? Are we willing to accept a situation in which artists working in emerging economies are made even more peripheral?

The OS2 update presents a powerful opportunity to fuel a much-needed sea change. It serves everyone’s interest, not just the whales and the flippers. If we want to protect creators, we have to hold OpenSea accountable and make sure its platform contains the tools that empower creators.

Let’s not allow the hype around AVs distract us from the real equitable priorities. Together, let’s create a better NFT ecosystem, one that is more fair, equitable, and sustainable. Let's make sure those increased active addresses actually translate into money in the pockets of the artists who deserve it most. The future of NFTs depends on it.

We can:

  • Support projects that prioritize royalties: Seek out platforms and marketplaces that enforce creator royalties.
  • Advocate for better standards: Demand that marketplaces implement better royalty enforcement mechanisms.
  • Educate others: Spread awareness about the importance of supporting NFT creators.
  • Buy directly from artists: Cut out the middleman and support creators directly.

The OS2 update could be a catalyst for positive change. But only if we demand that it benefits everyone, not just the whales and the flippers. We need to hold OpenSea accountable and ensure that its platform truly empowers creators.

Let's not let the hype blind us to the real issues. Let's build an NFT ecosystem that is fair, equitable, and sustainable. Let's make sure those increased active addresses actually translate into money in the pockets of the artists who deserve it most. The future of NFTs depends on it.