Alright so if you haven’t heard about NFT’s yet then you must be in your own little bubble and scared to come out in to the world and play because NFT’s are the newest craze. It’s set to be newest dot come bubble.
The thing about NFT’s is its a lot of skepticism around the whole thing because its like selling art but not really selling art or selling a digital version of music but not really just the track.
Its definitely a weird set up and we are all still trying to figure out where this NFT thing Is going to take us. and while we are trying to figure things out a company by the name of Opensea is taking the NFT game over.
The founders of buzzy blockchain startup OpenSea have joined the three-comma club following a fresh funding round announced Last Tuesday (at the time of this post) that values the company at $13.3 billion—up from $1.5 billion just six months ago.
With estimated 18.5% stakes in OpenSea, cofounders Devin Finzer and Alex Atallah are each worth about $2.2 billion, Forbes estimates. That is a lot of Funny pictures being sold.
Opensea is a marketplace for NFT’s ahese NFT’s aren’t bid on at the moment. Most of them are sold at base prices. It’s almost like a EBay set up but for Digital products.
OpenSea bills itself as a peer-to-peer platform on which users can create, buy and sell all sorts of NFTs—in exchange for a 2.5% cut of each sale. So this is where it gets interesting because they are actually valued as a billion dollar company but this money will have to be aid back plus more because they became billionaires because of funding from others investing in the company.
This whole NFT craze will come down crashing soon but there will be companies that will stand the test of time. Just like the big tech companies like Amazon and others stood the test of time I believe Opensea will do the same.
If you want to learn more about NFT’s and Opensea check out the link to the Forbes article about Opensea Its a great read and if your looking to invest in a couple of NFT’s check out opensea website.
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