"Encrypted eBay" Opensea npe arouses controversy

Opensea, the popular NFT store, has announced its first chief financial officer (CFO), according to a Bloomberg report. Brian Roberts, former CFO of application sharing app Lyft, was the head of global business development at Microsoft three years ago. .

The new CFO has no experience in the crypto industry, but he said in an interview that the advent of Web 3.0 technology and NFT sites was particularly reminiscent of eBay in the mid-90s.

For the future of Openea, Roberts has already planned the first public offering (IPO) and is discussing other financial issues with venture capital firms such as A16z, Coinbase and Blockchain Capital. According to a source close to the conversation, investment firms are seeking investments of around $ 1 billion worth over $ 12 billion.

Roberts believes, “If a company is growing quickly, it would be foolish not to think about going public. Given this growth, it will be popular in the open market.

Opensea exceptional dashboard

Opensea is an NFT company developed in 2017 that allows users to create, buy, sell and sell NFTs including prints, toys, virtual landscapes, music, etc.

So far Opensea can be considered the largest parking lot in the NFT arena. Whether it's the active issue, consumer packaging or the packaging industry, Opensea is far ahead in many stores. Unlike NFT, which grabbed the headlines in the first half with multi-million dollar art sales, the Q3 NFT model has always been the cornerstone of archives like boring monkeys and cryptopunks, further bolstering their rise. . to open.

This year, Opensea has many users.The number of online OpenC users in August was 40,000, 319 times more than 125 last August. The total number of users who have switched to NFTs at least once has also reached new highs. According to data from Dune Analytics, Opensea only had 36,195 users as of January of this year, up from 760,780 at the time of writing. During those 11 months, it has increased by a factor of 20. Currently, Opensea's monthly counts are stable at over 200,000.

The growth of Opensea packaging this year is the best.At the time of the opening, the exchange rate in January was only $ 8.07 million, but in August it increased 410 times to $ 3.4 billion. Compared to Rarible, the second largest in the NFT market, the volume of the Opensea market is around 10 times higher. Today, Openea's market cap is less than US $ 50 million, and compared to competitors like Rarible, it's clearly a juggernaut.

The price of burning ETH is also a way to determine the growth of Openea's packaging business."Burn rates" are a new take on the EIP-1559 strategy, which breaks down the ETH costs that businesses pay. Since EIP-1559 went live on August 15, according to Ultrasound data, Opensea has become a major consumer, using 120,835 ETH, ahead of popular apps like Uniswap V2, V3. , Metamask and Axie Infinity.

The visibility of Openea has broadened with the addition of renowned artists and academies..Since its inception, Opensea has benefited from the collaborations of Yao Ming, Jalen Sages and other artists, as well as the support of well-known organizations such as Associated Press, WWE, Fortune, Budweiser, McDonald's and more. Additionally, Sotheby's and Christie's, two older department stores with over 200 years of history, have also partnered with OpenC to become a leader in digital art and enhance its home events.

It was thanks to Opensea's exceptional performance in July this year that Opensea received $ 1.5 billion in net funding from well-known companies such as A16z and Coinbase.

Opensea names have problems.

Rarely has he once relied on ad management tokens and new investments to quickly reap huge business benefits. SuperRare did the same for its tokens in August. Likewise, the increase in the number of Openea users is partly due to unauthorized token control, and the industry frequently disseminates information about token distribution, forcing some users to bear market costs. students. Brush airdrop "However, the new CFO has announced plans for an IPO, leading some in the crypto community to fear that OpenSea may not be dumped.

Your registration method will be correct if you want to get more public recognition. The popular cryptocurrency exchange Coinbase went public in April of this year, sparking a wave of investment and interest, and some in the cryptocurrency community hailed it as the most popular IPO. happy for years. Upon launch, Coinbase (COIN) topped the Nasdaq price index.

However, not everyone is interested in the traditional IPO approach of crypto-device companies. Coinbase CEO Olaf Carlson-Wee (now CEO of Polychain Capital) believes the exchange could be more profitable by announcing and launching its own Ethereum token in May.

However, some crypto communities have expressed opposition and opposition to Openea's governance model, which uses traditional business management instead. From their perspective, company names have nothing to do with cast and community members.

Arthur Chung, Founder of DeFiance Capital, said, “Think about the largest and most successful NFT industry. But if you choose to go public instead of offering tokens, you won't. "

Collector NFT Punk_2070 thinks, “It's unfortunate to hear that OpenSea is selling its shares and doing an IPO. Their capital is not what it is today, but according to users, we did.

Alexei Falin, CEO of Rarible, said in an interview: “We are doing something different from OpenSea. We are working hard to become a Web3.0 company.

DAO developer Cooper Turley tweeted, “The list of cryptocurrency companies never makes sense to me. Tokens will allow you to have community membership, so tokens can always be better than commodities.

OpenSea has yet to make it clear that it will not release any managed tokens. For example, you can create a hybrid model that combines an existing IPO with a single type of community competition. Thus, the way Opensea takes its decisions requires us to be patient.