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In January 2022, OpenSea raised $300 million in new series C funding, propelling the company's valuation to $13.3 billion. [13] In January 2022, Forbes estimated the stakes in OpenSea owned by Finzer and his co-founder Alex Atallah to be worth $2.2 billion each, making them the first two non-fungible token billionaires. [2]
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OpenSea is an American non-fungible token (NFT) marketplace headquartered in Miami. The company was founded by Devin Finzer and Alex Atallah in 2017. [1] [2] OpenSea offers a marketplace online allowing for non-fungible tokens to be sold directly at a fixed price, or through an auction.
(Reuters) -The U.S. Securities and Exchange Commission has threatened to sue non-fungible tokens marketplace OpenSea, the company's CEO said in a post on social media platform X on Wednesday.
During the height of the breakout success of CryptoKitties and the emergence of ERC-721 tokens in 2017, an NFT marketplace called OpenSea emerged to capitalize off of the new non-fungible token standard. [46] It positioned itself early in the NFT market landscape and grew to a $1.4 billion market cap in 2021 during the then-ongoing NFT boom. [47]
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Devin Finzer and Alex Atallah founded OpenSea in December 2017. [1] [2] They were inspired by CryptoKitties, a blockchain-based game featuring non-fungible tokens that had been released earlier that year. [1] [2] Finzer and Atallah believed that OpenSea could be a marketplace for buying NFT tokens like these at scale. [1]