OpenSea

OpenSea is an online marketplace for non-fungible tokens. It was founded by Devin Finzer and Alex Atallah in New York on December 20, 2017.[1]

OpenSea
TypePrivate
Founded2017
Headquarters
United States
Area served
Worldwide
Key people
  • Devin Finzer
  • (CEO)
  • Alex Atallah
  • (CTO)
Websitehttps://www.opensea.io

Description

Users can generate NFTs for free on OpenSea and offer them for direct purchase or auction. OpenSea is based on the Ethereum ERC-721 standard and Polygon (a layer-2 scaling solution for Ethereum).[2]

After a 2018 pre-seed round by Y Combinator, OpenSea raised $2.1 million in venture capital (including from Animoca Brands) in November 2019.[3] In March 2021, OpenSea raised an additional $23 million in venture capital (including. A16z Crypto/Andreessen Horowitz, among others).[4] In July 2021, OpenSea announced another investment round of $100 million at a valuation of $1.5 billion by a16z.[5]

In February 2021, revenues were the equivalent of $95 million, in March the equivalent of $147 million, and in September $2.75 billion.[6][7] As of April 2021, there are more than 20 million assets available on OpenSea.

In September 2021, OpenSea released its own mobile app for Android and iOS.[8][9]

References
  1. Ehrlich, Steven (6 July 2021). "NFT Marketplace CEO Explains Why The Industry Is Moving Beyond Ideological Purists". Forbes. Forbes. Retrieved 29 November 2021.
  2. "How to Create and Sell NFTs for Free". PetaPixel. PetaPixel. 24 November 2021. Retrieved 29 November 2021.
  3. Finzer, Devin (9 November 2019). "Bringing on additional strategic investors to OpenSea". OpenSea. OpenSea. Retrieved 29 November 2021.
  4. Matney, Lucas (18 March 2021). "NFT marketplace OpenSea raises $23 million from a16z". TechCrunch. TechCrunch. Retrieved 29 November 2021.
  5. Matney, Lucas (20 July 2021). "NFT market OpenSea hits $1.5 billion valuation". TechCrunch. TechCrunch. Retrieved 29 November 2021.
  6. Hackett, Robert (18 March 2021). "Crypto marketplace OpenSea raises $23 million to be the 'Amazon of NFTs'". Fortune. Fortune. Retrieved 29 November 2021.
  7. Dailey, Natasha (28 November 2021). "NFT exchange OpenSea made just $28,000 a month when it launched 4 years ago. Now its founders are about to be crypto billionaires". Markets Insider. Markets Insider. Retrieved 29 November 2021.
  8. Silberling, Amanda (17 September 2021). "OpenSea released an app — but it's for browsing, not buying and selling". TechCrunch. TechCrunch. Retrieved 29 November 2021.
  9. Campbell, Ian (20 September 2021). "OpenSea has an app, but you can't buy NFTs on it". The Verge. The Verge. Retrieved 29 November 2021.
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