Is OpenSea Publicly Traded?

OpenSea is a new platform for buying and selling digital collectibles. You could say it’s like eBay or Amazon for digital, blockchain-based collectibles. In this guide, we will attempt to answer one crucial question: Is OpenSea publicly traded?

Is OpenSea Publicly Traded?

Currently, OpenSea is not a publicly traded company. It may open up in the near future as it is continuously growing. In a pitch that happened in December 2021, there was news that OpenSea might offer its IPO after Brian Roberts joined as the first CFO of the company. Brian was earlier the CFO at Lyft, a ride-sharing company. It was because of him that Lyft reached a multi-billion IPO in 2019. This led to speculation that OpenSea might experience the same.

In an interview with Bloomberg, Brian said that he has seen a lot of P&Ls but he hasn’t seen a P&L like this. When you have a company growing as fast as this one, you’d be a fool not to think about it going public. He mentioned that the NFT industry is still in its initial phase. There is a long way to go.

But this statement sparked a huge controversy. A large majority of the community was opposed to OpenSea’s public offering and Brian issued a clarification on Twitter. He stated that no IPO is being planned for OpenSea and if there are any such plans in the future, the community opinion will be taken forthwith.

Img Src: Profile / Twitter

This young company may see an IPO in late 2023 or 2024. But currently, OpenSea is not a publicly traded company.

OpenSea is a marketplace where users may buy, sell, and mint unique digital collectibles in the form of NFTs. The platform allows users to conduct direct, trustless transactions with one another. It is a semi-decentralized, peer-to-peer exchange.

Although Solana, Polygon, and Klaytn are among the other blockchains that OpenSea supports, the vast majority of its trade volume comes from projects that are built on Ethereum.

FAQs

1. Is OpenSea on the stock market and can you buy its stock?

No, OpenSea is not listed on any stock market as it is a private company. You cannot buy OpenSea stock.

2. Is OpenSea a private company? Is OpenSea a listed company?

Yes, OpenSea is a private company. They develop blockchain-based financial software to expedite the trading of digital collectibles and crypto assets.

3. How to invest in OpenSea?

The platform only allows for the purchase and sale of NFTs. OpenSea is still a private company without an IPO. So, you can buy or sell NFTs on the platform but will not be able to invest in OpenSea as an entity. OpenSea is an essential tool in today’s world of digital ownership as it connects the infrastructure layer to the consumer layer for the digital goods industry. 

4. How much is OpenSea worth?

OpenSea has touched a benchmark of $13 billion. Its growth skyrocketed in March of 2021 with a closed investment of approximately $60 million.

5. How much market share does OpenSea have?

As of February 2022, Opensea, an NFT marketplace on the Ethereum blockchain, dominated the NFT business with a market share of more than 60%.

6. Are any NFT marketplaces publicly traded?

DraftKings.

7. What are the biggest NFT companies?

OpenSea, Rarible, Binance, Nifty Gateway, SuperRare.

Conclusion

To summarize, users can buy and trade non-fungible tokens (NFTs) on OpenSea, a decentralized marketplace. The NFT exchange, established in 2017, started as a market for CryptoKitties but has already extended beyond collectibles. It should become an IPO in late 2023 or 2024.

Also Read: Is stash safe to give SSN?

Leave a Comment