OpenSea plans IPO, turning deal into revenue

"OpenSea Recycle Bin."

The NFT community was very strong yesterday and OpenSea was outraged again. That's because Brian Roberts, CFO of Lyft, an American transportation company, has become OpenSea's new CFO.

That's good, but the new CFO announces the new plan as soon as he takes office. He plans to launch an IPO for OpenSea. He said, “It would be foolish for a business to grow so early. Remember to register.

Currently, no company has announced its own tokens since going public.Now, in order to get 'capable' OpenSea drops, millions of people have swept their OpenSea businesses using hundreds of wallets and used their toothbrushes to make money through OpenSea, but generally, you won't get anything.

In fact, many expect OpenSea to go for an IPO instead of the traditional ones. One is that OpenSea is based in New York City, and ad tokens are likely to suffer more in terms of compliance, and the other is that OpenSea is the mainstay of online marketing products.

OpenSea and eBay are virtually indistinguishable unless physical devices are switching over to Digital Devices (NFTs), and are in fact C2C e-commerce platforms that benefit from their exchange rates. . Currently, OpenSea's total market value for the first half of 2021 is $ 12.347 billion, with a value of 2.5% per share, with total sales of $ 309 million.

"The world has suffered from OpenSea for a long time"

As most communities say, OpenSea is doing very well, but it has 97% market share on the NFT site and has 750,000 users. OpenSea, essentially an Internet product, does not offer Internet applications for humans. some experiences.

The explosion of NFTs in the first half of this year resulted in an increase in traffic to the OpenSea website, but it is true that OpenSea was not prepared for this. Explosive NFTs were released almost on every occasion, or KOLs like Beanie and Gary Vaynerchuk were taken care of simultaneously with special NFTs. The OpenSea website declined due to an increase in the number of visitors during the filming period.

If this issue had occurred soon after the onset of NFT, the group didn't expect NFT to explode anytime soon, and now, six months after the outbreak began, the issue should be. resolved. extended and soft. OpenSea even had the problem of not being able to order all the NFTs at the same time, which forced them to buy the NFTs they received one by one resulting in low prices due to the huge market. After normalizing the problem, could not place an order in a short time, the product was restarted, and the price was lower than the OpenSea problem, causing damage to many customers.

Additionally, as OpenSea's “competitors” continue, OpenSea development appears to have come to a standstill.

SuperRare announced the price. Nifty Gateway will unveil the ability to trade NFTs using Ethereum wallets in January, which can save significant fuel costs. Rarible introduced the Rarible DAO protocol, which is used to create private messages and tools. In the NFT arena, NFT Traders Genie, which allows people to trade NFTs in the form of trades, allows people to scan products and place wholesale orders.

As other platform trading platforms are in full swing and new features have been released repeatedly to give communities the confidence they can continue to support, OpenSea has stood the test of time. In fact, 97% of the market is large enough to give OpenSea a good understanding of security, and few platforms can own OpenSea in the short term. However, after Nate Chastain, OpenSea's most knowledgeable product manager, was fired for "The Mouse Warehouse," more and more people ignored the instructions, and more and more people are responding to requests. questions and turns to help. There is growing dissatisfaction with the inefficiency of OpenSea and the arrogance of the team.

What most people are looking for is to provide Web2 experience with commercial Web3 products, but from current perspective OpenSea is a product of Web2 but has experience with Web3.

OpenSea Web3 or later

And this inconsistency is also due to the inaccuracy of the OpenSea team's own site. OpenSea's “semi-decentralization” also makes the whole platform a bit “four different”. On the one hand, it is open as a decentralized platform, so there is no monitoring phase when users create NFTs, and on the other hand, users' NFTs can be deleted or frozen directly. inside the system.

However, the OpenSea team reiterated their desire to make OpenSea a Web3 application. The developers of OpenSea discussed the collaboration between OpenSea and other companies in the First Mint podcast. It is a multi-company, ”said the new CFO of OpenSea, to shape the future of NFT, Web3 and the digital industry.

Tokens play an important role in the Web3 application. Whether used for community management, consumer satisfaction or skin-in-the-game (value sharing, risk sharing), tokens are important tools. . This is why people are eagerly awaiting OpenSea. They provide their own tokens and think that if OpenSea is problematic, they will definitely distribute airdrops to users, and give OpenSea the size and income, the cost of airdrops is good, some people will not hesitate to release their staff. I use hundreds of accounts to interact with OpenSea one by one in order to earn a lot of money when sending airdrops.

As soon as news broke that OpenSea was preparing for an IPO, the community shouted.

Some people bathe in dreams of air drops,I thought I could sew wool, but I wasn't sure if that would help OpenSea's results.Some people are angry and have no arguments.

The founder of OpenSea said in an interview that OpenSea works because it "puts it in the right place at the right time" and because it often listens to user instructions to figure out what they really need. In the past, OpenSea has been able to perform better and listen more attentively to the voices of the community, to this day it is important that communities and users take it step by step, stupid at the same time. It is difficult to switch to Web3.

However, as the volume grew, OpenSea became a bit "spontaneous".

OpenC's new CFO said, “It would be foolish not to think about listing a fast growing company. What happens after the success?

Indeed, based on the advantages of OpenSea,A true IPO is a way to make more money, and the options an IPO chooses also means putting it on Web3 and beyond.

The OpenSea option has been criticized by many. Although OpenSea's income comes from people living on Web3, OpenSea has decided to distribute this income to people living on Web2 instead of sharing it with its own users. OpenSea aims through community support and is frequently used by hundreds of thousands of Web3 users every day, which makes OpenSea famous and lucrative.OpenSea must provide support, and choosing an IPO means that sponsors must buy OpenSea shares in order to receive support.

It is difficult to find answers today to determine that a platform other than OpenSea is responsible for the functionality of OpenSea and possibly Web3. A lot of people can't even register on another platform. He's not alive. There are still plenty of new platforms out there that are fighting Uniswap in the hopes of using SushiSwap to get food from OpenSea, but in the end, OpenSea still has a staggering 97% market share.

You can't choose OpenSea, and it's hard to predict what the OpenSea team thinks. OpenSea may want to redo the old version of Coinbase. Maybe the OpenSea option was available in the Web2 era, but obviously irrational. In the era of Web3 ...

The founder of OpenC said: "We have prepared enough equipment to help us through the winter safely."