Deep Dive on Opensea

@opensea went from a seed-stage startup to a $13 billion business in under 2 years.
How did they do it?
The little known secret about Opensea’s history:

What is Opensea?

OpenSea is the largest NFT marketplace.
It offers NFTs, including collectibles, virtual real estate, digital art, etc.
It has a user-friendly interface and supports multiple blockchain platforms.

The story of OpenSea begins in 2017.

Co-founders @xanderatallah and @dfinzer saw the potential of NFTs.
They set out to build a platform to connect creators and collectors.
Finzer was a regular presence in NFT groups on Reddit.
They aimed to make it easier to buy, sell, and discover unique digital assets.

Launched in 2017

CryptoKitties was the first major NFT project on OpenSea.

In 2018, OpenSea raised a $2M seed round.

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In 2019, OpenSea became the largest NFT marketplace, with a focus on gaming and collectibles.

The platform features a user-friendly interface, diverse offerings, and a growing community.
OpenSea continued to evolve with rise of NFTs.
It expands its offerings, including unique digital art, music, and virtual real estate.

By 2020, the platform was generating over $365 million in revenue.

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It wasn’t until 2021 that the sales of Bored Apes and Beeple gave rise to the NFTs.

Those 3 cold years between CryptoKitties and Beeple gave OpenSea a head-start in the NFT marketplace.

By January 2022, they raised $300 million with a massive valuation of $13.3 billion.

The company’s success is attributed to its strong commitment to empowering creators.
It focuses on the community.
And it drives innovation in the NFT space.
OpenSea’s journey over the past five years is a testament to the power of persistence, dedication, and commitment to the community.
Also, it presents the unlimited potential of NFTs.
Now, there are many others pushing the NFT ecosystem forward.

Learn the NFT marketplace roadmap from these products:

• @MagicEden by @0xLeoInRio, @sidazhang, @ZhuoxunYin & @zhouzhuojie on @solana - Largest NFT Marketplace on Solana
• @sudoswap - Fully on-chain AMM NFT Marketplace that offers 0.5% marketplace fee and 0% creator royalties.
• @LooksRare by @ZoddLooksRare - Decentralized NFT Marketplace launched by an anonymous team.
• @the_x2y2 - 0.5% marketplace fee with staking rewards via native token $X2Y2
• @rarible - Aggregated NFTs from 5 chains with 0% fees

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