Even as we slowly exit Crypto Winter, the OG of NFT trading exchanges OpenSea is facing it’s 1st real competition from upstart NFT platform Blur, which has marketed itself as a platform for people just looking to make money flipping NFTs (aren’t they all?!?!).
Despite the poor performance of NFT in the last few years, the NFT market say $11.8 billion in volume across for all of 2023.
OpenSea went through a round of layoffs in November of 2023 when they laid off around 50% of their staff.
Ouch!
At the time OpenSea’s CEO Devin Finzer said in a post on X/Twitter “We’re building a new foundation so we can innovate faster and we’ll have some experiences to share with you soon. We will change how we operate – shifting to a smaller team with a direct connection to users.”
OpenSea’s CEO Devin Finzer is now positioning the company for when (or in my words “if”) the NFT market takes off again then OpenSea will be “in the pole position as the prime spot for drops — a first sale in the NFT world — a promising potential revenue stream for the company.” according to an article on Axios.
OpenSea aims win NFT market by bringing more people in