OpenSea
OpenSea is a New York City-based DeFi blockchain Ethereum cryptocurrency NFT platform founded in 2017[1] by Devin Finzer and Alex Atallah.[2][3] Valued at $1.5billion in 2021,[4][5] OpenSea is one of the largest NFT marketplaces.[6][7] OpenSea sold the first NFT of a live sports event, and hosts the NBA Top Shot store for sports collectibles.[8]
OpenSea is backed by Naval Ravikant (AngelList), Balaji Srinivasan (Coinbase), Ben Silbermann (Pinterest), Alexis Ohanian (Reddit), Belinda Johnson (Airbnb), Ron Conway, Mark Cuban, Kevin Durant, and Ashton Kutcher,[9][10] among other individuals, venture capital firms, and angel investors.[11][12][13] In 2021, OpenSea contributed to national United States policy discussions involving cryptocurrency tax, by selling a letter from California Representative Anna Eshoo to Nancy Pelosi as a NFT.[14]
The platform has hosted NFTs by Shawn Mendes, Tampa Bay Buccaneers tight end, Rob Gronkowski,[15] Olympic Games gold winning gymnast McKayla Maroney,[16] film director, Brian Taylor, who sold rights to a short film "Out!!!" - including outtakes and full scenes,[17] collectibles for the Washington Wizards and Capitals,[18] 10,000 NFTs from The Bored Ape Yacht Club,[19] 3 NFTs from Reddit (featuring its alien mascot),[20] Mark Cuban,[21] Pepe the Frog,[22] visual artist Kevin Abosch,[23] and 256 cover animations from Fortune Magazine, based on sketches by Thomas Maitland Cleland who created the magazine's first edition in 1930.[24][25]
Generating new revenue streams across various industries, Gronkowski's NFT trading card collection sold on OpenSea for $1.2million,[26][27] and photographer, Justin Aversano, earned over $130,000 in around 5 months.[28]Additionally, it provided a new way for real estate investor Shane Dulgeroff to attract bids to a physical property by linking it to a NFT.[29] In June 2021 alone, OpenSea handled over $150million in sales.[30] With Kevin Abosch, he released 111 works which earned him $2million. He commented on how NFTs allowed him to reach younger audiences and find new solutions regarding ownership.[31] OpenSea also allowed creators to develop a new identity for their work, like with the politically controversial Pepe the Frog. Its creator Mark Furie commented on how minting the cartoon as a NFT is changing its meaning.[32]
Charity[edit]
OpenSea hosted a NFT from the Amy Winehouse Foundation and MusiCares to raise funds for recording artists struggling with mental health and substance abuse issues.[33]
Controversies[edit]
An unauthorised NFT version of “Free Comb with Pagoda” by Jean-Michel Basquiat was made available on OpenSea before it was removed by request of Basquiat’s estate.[34]
References[edit]
- ↑ "NFT marketplace OpenSea raises $23 million from a16z". TechCrunch. Retrieved 2021-09-14.
- ↑ "The incredible sports memorabilia boom continues. What the NFT happened?!". ESPN.com. 2021-07-27. Retrieved 2021-09-14.
- ↑ Carvalho, Elizabeth Howcroft and Ritvik (2021-03-02). "How a 10-second video clip sold for $6.6 million". The Sydney Morning Herald. Retrieved 2021-09-14.
- ↑ "NFT market OpenSea hits $1.5 billion valuation". TechCrunch. Retrieved 2021-09-14.
- ↑ "Yat thinks emoji 'identities' can be a thing, and it has $20M in sales to back it up". TechCrunch. Retrieved 2021-09-14.
- ↑ Locke, Taylor (2021-08-02). "From the Senate's infrastructure bill proposal to record trading volume for NFTs: 5 key things that happened in crypto this past week". CNBC. Retrieved 2021-09-14.
- ↑ "NFTs are helping artists solve a vital problem: who owns digital artwork?". the Guardian. 2021-04-03. Retrieved 2021-09-14.
- ↑ Lin, Connie (2021-06-24). "Andreessen Horowitz raises the stakes with a new $2.2 billion cryptocurrency fund". Fast Company. Retrieved 2021-09-14.
- ↑ "NFT market OpenSea hits $1.5 billion valuation". TechCrunch. Retrieved 2021-09-14.
- ↑ "OpenSea raises $100M at $1.5B valuation for NFT marketplace". VentureBeat. 2021-07-20. Retrieved 2021-09-14.
- ↑ "This crypto marketplace just raised $23 million to be the 'Amazon of NFTs'". Fortune. Retrieved 2021-09-14.
- ↑ Sullivan, Mark (2021-07-20). "Why Andreessen Horowitz is betting big on NFTs". Fast Company. Retrieved 2021-09-14.
- ↑ Nast, Condé (2021-06-15). "Does Tech Need a New Narrative?". The New Yorker. Retrieved 2021-09-14.
- ↑ GmbH, finanzen net. "Rep. Anna Eshoo urged Nancy Pelosi to change the crypto tax language in the infrastructure bill - and there's now a NFT of her letter". markets.businessinsider.com. Retrieved 2021-09-14.
- ↑ "This crypto marketplace just raised $23 million to be the 'Amazon of NFTs'". Fortune. Retrieved 2021-09-14.
- ↑ Archive, View Author; feed, Get author RSS (2021-08-10). "McKayla Maroney thinks 'Not Impressed' NFT will sell for over $1 Million". New York Post. Retrieved 2021-09-14.
- ↑ Jackson, Angelique; Jackson, Angelique (2021-07-24). "'Crank' Director Brian Taylor and Christopher Meloni Take On the NFT Marketplace With Short Film 'Out!!!'". Variety. Retrieved 2021-09-14.
- ↑ "Monumental Sports partners with local artists on Capitals and Wizards NFT collections". Washington Post. ISSN 0190-8286. Retrieved 2021-09-14.
- ↑ Reuters (2021-07-06). "NFT sales volume surges to $2.5 billion in 2021 first half". New York Post. Retrieved 2021-09-14.
- ↑ GmbH, finanzen net. "Reddit is auctioning 3 ethereum NFTs featuring its alien mascot Snoo". markets.businessinsider.com. Retrieved 2021-09-14.
- ↑ GmbH, finanzen net. "NFT prices are worth less than half what they were in April, as the market has cooled. Even Mark Cuban has had a digital token up for sale for a month". markets.businessinsider.com. Retrieved 2021-09-14.
- ↑ "Matt Furie is trying to reclaim his famous cartoon Pepe the Frog — through NFTs". Washington Post. ISSN 0190-8286. Retrieved 2021-09-14.
- ↑ "NFTs are helping artists solve a vital problem: who owns digital artwork?". the Guardian. 2021-04-03. Retrieved 2021-09-14.
- ↑ "Fortune's first NFT cover is a live digital experiment". Fortune. Retrieved 2021-09-14.
- ↑ "Fortune raised 429 Ether—about $1.3 million—in its first-ever NFT sale". Fortune. Retrieved 2021-09-14.
- ↑ "Buccaneers' Brady releasing debut set of NFTs". ESPN.com. 2021-08-10. Retrieved 2021-09-14.
- ↑ News, A. B. C. "Tampa Bay Buccaneers' Tom Brady releasing debut set of NFTs". ABC News. Retrieved 2021-09-14.
- ↑ Locke, Taylor (2021-07-09). "This 28-year-old artist made over $130,000 selling NFTs in just 5 months". CNBC. Retrieved 2021-09-14.
- ↑ Kurutz, Steven (2021-05-25). "The Curious World of NFT Real Estate and Design". The New York Times. ISSN 0362-4331. Retrieved 2021-09-14.
- ↑ "Auction Sales Have More Than Tripled in 2021 as the Art World Comes Roaring Back". Observer. 2021-07-08. Retrieved 2021-09-14.
- ↑ "NFTs are helping artists solve a vital problem: who owns digital artwork?". the Guardian. 2021-04-03. Retrieved 2021-09-14.
- ↑ "Matt Furie is trying to reclaim his famous cartoon Pepe the Frog — through NFTs". Washington Post. ISSN 0190-8286. Retrieved 2021-09-14.
- ↑ Aswad, Jem; Aswad, Jem (2021-05-18). "Amy Winehouse Foundation and MusiCares Team Up for Charitable NFT". Variety. Retrieved 2021-09-14.
- ↑ "An NFT Version of a Banksy Artwork That's Up for Auction Could Prompt a Lawsuit". Observer. 2021-07-22. Retrieved 2021-09-14.
External links[edit]
Category:Online retailers Category:Blockchains Category:Companies based in Manhattan Category:Y Combinator companies Category:2017 establishments
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