added by sari · updated 2y ago
OpenSea: The Reasonable Revolutionary | The Generalist
- Mason Nystrom: OpenSea aggregated and offered a breadth of different assets. So while Rarible gained early volume when it launched because of its liquidity mining, Rarible didn’t aggregate other non-Rarible assets (i.e. Punks, Axies, art). So OpenSea became the go-to market/liquidity for many of these early assets. OpenSea also passed through royal... See more
from OpenSea: The Reasonable Revolutionary | The Generalist by Mario Gabriele
sari added 3y ago
- If we want to get a sense for where else the company might go, revisiting Coinbase’s roadmap might be a good call. In many respects, that seems to be OpenSea’s closest analogue — a centralized crypto exchange that serves as the natural on-ramp to the ecosystem, and is keen to play by the rules.
from OpenSea: The Reasonable Revolutionary | The Generalist by Mario Gabriele
sari added 3y ago
- Maria Shen: Capturing the “buy now” mechanism is important because the more “buy now” NFTs you have the more liquid your markets [are]...Opensea has the most “buy now”.
from OpenSea: The Reasonable Revolutionary | The Generalist by Mario Gabriele
sari added 3y ago
- Alex Gedevani: [OpenSea’s] emphasis on being a permissionless market for NFT minting, discovery, and trading [explains its market share accrual]. This enabled the long tail of creators to easily onboard given a low barrier to entry relative to other platforms. This approach is what scaled the supply sides of creators which attracted users and liqui... See more
from OpenSea: The Reasonable Revolutionary | The Generalist by Mario Gabriele
sari added 3y ago
- Richard Chen: Rarible launched a token for the sake of launching a token and didn’t think deeply about token economics. As a result they heavily incentivized wash trading from people farming the token, and for a few months last summer Rarible was doing more volume than OpenSea. But once the inorganic demand dried up then it became super clear that ... See more
from OpenSea: The Reasonable Revolutionary | The Generalist by Mario Gabriele
sari added 3y ago
- Richard Chen: It’s very difficult for OpenSea to be forked and vampire attacked. That’s because 99% of the engineering work is off-chain (e.g. search and discovery, infrastructure) and thus can’t be forked.
from OpenSea: The Reasonable Revolutionary | The Generalist by Mario Gabriele
sari added 3y ago
- Investors may want to watch out for new types of NFTs. If you’re feeling irked you missed out on CryptoPunks, Bored Apes, and Art Blocks, there may be some consolation. New formats are constantly being created; two experts suggest music and “intelligent” NFTs are worth watching.
from OpenSea: The Reasonable Revolutionary | The Generalist by Mario Gabriele
sari added 3y ago
- NFTs are for real. Whether cynic or supporter, the numbers show that non-fungible tokens are far from frivolous. So far this year, NFT sales have totaled more than $13 billion, with much of that sum arriving in the last two months.
from OpenSea: The Reasonable Revolutionary | The Generalist by Mario Gabriele
sari added 3y ago
- Running lean is vital for markets with high volatility. OpenSea maintained a small team for its first few years, with just 7 employees as of late 2020. That allowed the company to weather the crypto bear market, hanging in until NFTs took off.
from OpenSea: The Reasonable Revolutionary | The Generalist by Mario Gabriele
sari added 3y ago