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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.
Coinbase moved into the NFT space in competition with OpenSea, which emerged in 2021 as the biggest NFT marketplace. In September, 2021, OpenSea racked up $2.8 billion in NFT trades .
The token exists on the blockchain, and the sale is tracked on the ... such as SuperRare, Foundation VIV3, OpenSea, NFT ShowRoom and Axie Marketplace. For art collectors, NFTs are a means of ...
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. [47] 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. [48]
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 ]
(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.
These functions allow transfers initiated by the token owner, or an approved operator of their individual tokens. Further, developers can implement custom logic to these transfer functions, providing the functionality for NFT protocols to operate. For example, marketplaces like OpenSea, make use of approved operators to facilitate the sale of NFTs.
In late 2021, the popularity of Bored Apes spurred copycat NFT projects. PHAYC and Phunky Ape Yacht Club were two such projects centered around the same idea of selling NFTs of mirrored but otherwise identical images of Bored Ape NFTs. [42] The OpenSea NFT marketplace banned both projects in December 2021. [42]