Discover OpenC, the world's largest NFT trading platform. What type of business is it?

"Redshirt Capital is bringing blockchain to the fore, while OpenSea prepares an IPO from its rear that betrays Web3.0.

OpenSea betray Web3.0.

Recently, word of the upcoming IPO of OpenSea, the world's largest NFT trading platform, has spread like wildfire, attracting more and more drop users through the platform.

"I think I can write the deal, and it pays off."

"In the past you thought it would be a drop, but now you can only do commercial products?"

"Their venture capital didn't get them where they are today, we did."

"It's really scary to hear that OpenSea is selling an IPO."

According to Bloomberg News, OpenSea has hired Brian Roberts, former CFO of America's leader in online ridesharing platforms, according to the company's CFO, hinting that Roberts will continue to go public. "It would be foolish not to think about going public when a company is growing as fast as OpenSea."

In addition to clarifying Roberts' plans to the public, founder and CEO Devin Finzer also said that while Roberts has no shortage of capital (even though he recently raised $ 100 million) worth $ 1.5 billion dollars), OpenSea will own the company once. earn more money., partnerships and joint ventures to expand the use of NFT in new industries. The company now works with merchants such as a16z, Founders Fund, Coinbase, and Blockchain Capital. Discuss new financial matters. (Additional Info: Currently, no company has announced its own tokens since going public)

However, OpenSea has yet to make it clear that it will not release any tokens. Some experts believe that OpenSea can create built-in models that natively mix IPOs with some of the community's tokens, but as new IPOs continue to emerge, communities also believe that OpenSea has betrayed Web3.0.

OpenSea: A company which "reaches the top" of the NFT

What type of business is OpenC?

First of all, OpenSea is an NFT trading platform that earns a profit by paying 2.5% discount on trading applications. However, OpenSea is the largest NFT trading platform in the world, with a sales history of over $ 10 billion since its inception, and the monthly sales of the OpenSea platform are said to have reached $ 3.4 billion when the economy peaked in August. Currently, in the November NFT market, OpenC monopolizes a 92.5% market share.

Data source: Dune Analytics

In fact, OpenSea is tens of thousands of unicorns that have "overtaken" the NFT industry, but that's not what airdrop users have said in previous articles. The wind and the hand that raised OpenSea above the throne.

As the saying goes that pigs can fly if they stand on top of the nozzle, the emergence of the NFT nozzle made OpenSea a success. In memory of OpenSea founders Devin Finzer and Alex Atallah, OpenSea early on developed a non-fungible NFT platform to create, buy and sell a wide variety of life-changing NFTs. After 26 months of online activity, it only has 4,000 active users, earning $ 1.1 million per month, or the equivalent of $ 28,000 in monthly revenue (according to OpenSea 2.5% sales commission ).

This event improved in February 2021. It was sponsored at the same time by KOLs like Beanie and Gary Vaynerchuk, and in some NFT series the OpenSea website fell with an increase in the number of visitors.

The rapid expansion of OpenSea packaging is like a butterfly flapping its wings in the Amazon rainforest, which could have a big impact. First, traders have been checking the heritage portal and they are hoping that OpenSea will advertise their own tokens and believe that they will definitely release airdrops to users when OpenSea issues tokens (in fact, OpenSea advertises and manages tokens). Some people are not afraid to use their human and financial resources. Hundreds of accounts are associated with OpenSea one by one in the hope of making a lot of money from sending Airrops.

Then, when Airdrop users help OpenSea analyze the data, the capital again sees significant gains behind it and transforms the capital's fruit branches alongside OpenSea (Redshirt Capital has not invested, but has recently stated he needed them: as mentioned, they should all be on the blockchain). The end result we are seeing is that OpenSea has grown into the world's largest NFT trading platform, with investments from multiple headquarters including a16z and Coinbase in 2021 (US $ 23 million serial). US $ 100 in Series B funding in 2021, now over $ 1 billion in Series C funding).

OpenSea: a prosperous company

OpenC, which has been a leader, is a company that continues to grow and has a solid foundation.

OpenSea is evolving rapidly. From 4,000 monthly users to 200,000 monthly users, it's a miracle that OpenSea has grown 50 times in six months, but it has put OpenSea at risk several times. For example, like the server problem statistics mentioned in the previous article, the NFT industry will cause OpenSea to crash in 2021. There are over 11 crashes, large and small, and there have been many. crashes. issues are still pending), has encountered many issues that OpenSea does not plan to address due to its rapid development.

Another example is the unreliable "mouse warehouse" that popped up some time ago, where OpenC employees abused their work to buy NFTs before using a few small numbers and then walking out of the box. first page to increase prices. Transfer to your account for the first time to complete the transaction. Twitter has been hit by the Rat Warehouse incident, which caused a stir among Internet users, and OpenSea staff must act quickly to ban NFTs from buying NFTs when advertised as authors or artists, and ban OpenSea users to buy and sell from inside information. . . NFT (though not limited to the OpenSea platform) is here to satisfy the outrage of the public, but from god's point of view, OpenSea is definitely pushing it.

At the same time, the foundation of OpenSea is not stable. While OpenSea has always had an impact on the Rarible side business (not as much as OpenSea when combined with other platforms), the enemies are getting stronger and stronger. Exchanges such as Coinbase and FTX.us recently announced their intention to launch. TVN industry. , and as Sequoia Capital and other organizations involved in the war rejoice, the threat of newcomers will only increase in the future. And if OpenSea couldn't actually request drops, potential users looking for the benefits of this section might not want to change anywhere to request drops, and their departure could affect its performance measurement as well.

Harvard Business School Associate Professor Scott Duke Kominers said: “Early leaders in crypto face great risk. Business leaders don't need to be extremely successful. Strong enough to overcome the next loan. Don't focus on competing with a slightly different audience. "

Finally, back to the first question. What type of business is OpenSea? My answer is, I think OpenSea is more than just a profitable NFT business.