Companies
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OpenSea
Consumer & E-commerce
OpenSea is a New York-based marketplace for buying, selling, and trading non-fungible tokens (NFTs), one of the most prominent platforms during the NFT market boom.
$1.18B
+$5.62
5,426.39%
30 days ago
$0.10
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OpenSea was founded in 2017 by Devin Finzer and Alex Atallah, building one of the earliest and eventually most widely used marketplaces for non-fungible tokens, or NFTs, unique blockchain-based digital assets that can represent ownership of digital art, collectibles, and various other digital or digitally-linked items, with OpenSea's marketplace supporting a broad range of NFT collections across the Ethereum blockchain and, over time, several other blockchain networks as well. OpenSea experienced explosive growth during the NFT market boom of 2021 and early 2022, when trading volumes, prices, and mainstream cultural attention toward NFTs reached extraordinary heights, before the broader NFT market experienced a very significant and prolonged decline in trading volume, prices, and general interest starting in mid-2022 that has persisted through much of the platform's subsequent history, a decline that affected essentially the entire NFT marketplace ecosystem rather than being specific to OpenSea alone. The company's valuation and business scale contracted substantially from its 2022 peak alongside this broader NFT market decline, though it has continued operating as one of the more established and recognized names in the NFT marketplace category, working to adapt its product and business model to the considerably smaller and different NFT market that has persisted following the initial boom's collapse. OpenSea had raised substantial venture funding from investors including Andreessen Horowitz and Coatue, reaching a peak valuation of approximately $13.3 billion during the height of the NFT boom, competing with Blur and other NFT marketplaces that emerged during and after that period.
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