OpenSea
Courtesy of OpenSea
- CategoryNFTs
Despite a flurry of new competitors since it was founded in 2017, OpenSea has remained the single most important marketplace for non-fungible tokens.
Founders Devin Finzer and Alex Atallah entered the Y Combinator startup accelerator with a different crypto idea in mind but pivoted after the debut of CryptoKitties, one of the first NFT collections.
OpenSea was founded to make peer-to-peer NFT transactions easier via a simple interface at a time when non-fungible tokens were still in their infancy. The marketplace now employs more than 200 and boasts more than 80 million NFTs among 2 million unique collections, including Bored Ape Yacht Club and CryptoPunks.
The company usually charges a 2.5% fee for sales on its platform, but cut that to 0% temporarily while also controversially making creator royalties optional after new competitor Blur made big strides in trading volume.
OpenSea still has the most users, with 317,000 unique traders in February, over 200% more than Blur, according to DappRadar. After a $300 million investment last year led by Paradigm and Coatue, OpenSea was valued at just over $13 billion, up from the company’s previous valuation of $1.5 billion in 2021.
Founders Devin Finzer and Alex Atallah entered the Y Combinator startup accelerator with a different crypto idea in mind but pivoted after the debut of CryptoKitties, one of the first NFT collections.
OpenSea was founded to make peer-to-peer NFT transactions easier via a simple interface at a time when non-fungible tokens were still in their infancy. The marketplace now employs more than 200 and boasts more than 80 million NFTs among 2 million unique collections, including Bored Ape Yacht Club and CryptoPunks.
The company usually charges a 2.5% fee for sales on its platform, but cut that to 0% temporarily while also controversially making creator royalties optional after new competitor Blur made big strides in trading volume.
OpenSea still has the most users, with 317,000 unique traders in February, over 200% more than Blur, according to DappRadar. After a $300 million investment last year led by Paradigm and Coatue, OpenSea was valued at just over $13 billion, up from the company’s previous valuation of $1.5 billion in 2021.