• bitcoinBitcoin$57,696.000.31%
  • ethereumEthereum$3,121.500.41%
  • elrond-erd-2MultiversX$35.73-0.34%

After the Backlash, OpenSea Backtracks on Its IPO Idea

After OpenSea CFO Brian Roberts declared this week that “it would be foolish not to think about going public,” the company now denies it wants to pursue an IPO.

Obviously, what Roberts said stirred up a storm in the OpenSea NFT community since going for a public listing is perceived as selling out to large institutional investors. The majority of users on OpenSea make transactions below $10,000 at a time.

Now Roberts said that it was all a misunderstanding and that it was a case of “inaccurate reporting on OpenSea’s plans.”

“Let me set the record straight: there is a big gap between thinking about what an IPO might eventually look like & actively planning one. We are not planning an IPO, and if we ever did, we would look to involve the community,” declared Roberts.

OpenSea is very popular at the moment, as it recorded $2 billion in trading volume from 1.1 million transactions and almost 250,000 users just across the previous 30 days. The platform has a fee of 2.5% from each trade recorded, which means that it recorded more than $50 million in revenue in those 30 days.

Previous articleNext article

Leave a Reply

Your email address will not be published. Required fields are marked *