OpenSea CEO Devin Finzer discusses staying on top of a turbulent NFT market at TC Sessions: Crypto • TechCrunch
The NFT market is worth tens of billions of dollars and has experienced rapid growth throughout the cryptocurrency trading life. NFT exchange OpenSea, led by CEO and co-founder Devin Finzer, has emerged as a market leader, Gained a $13.3 billion valuation in January It controls an estimated 90% of the total NFT market.
Since then, it’s been a bumpy ride for NFTs. Trading volumes decreased More than 90% of the peak in January, forcing exchanges, including OpenSea, to Performing sharp haircuts for workers. And for OpenSea specifically, competition is escalating, as newcomers like Magic Eden threaten its dominance and rumors of an OpenSea IPO fade. Big tech could stifle long-term growth in the space, too, as high market fees for Apple and Google challenge the idea that NFT trading could hit mobile adoption.
There are plenty of challenges on the horizon, but there is also huge potential for OpenSea to achieve long-term growth in the NFT market if it really does happen. There are undeniable pockets of excitement in the space, so the question is whether that excitement will materialize and whether OpenSea is well positioned to capture it.
These are some of the topics we will discuss with Finzer on stage at TechCrunch Sessions: Crypto. We’ll ask him what use cases he sees as the NFTs in which he sees the most potential and learn how the company plans to maintain its first mover advantage and seize new growth opportunities through a bear market.
The event takes place on November 17 in Miami. Save $150 with Early Pricing And the Buy your pass Today, then join the web3, DeFi, and NFT communities to keep up with the ever-evolving and exciting world of crypto.