Blur presyoBLUR

Devin Finzer was born in 1990 and grew up in the San Francisco Bay Area. His father is a software engineer, and his mother is a doctor. Finzer was early on introduced to the sector of technology and innovation. Following his graduation from Miramonte High School in Orinda, California, he continued on to Brown University, concentrating in computer science and mathematics, and graduated in 2013. Finzer paid attention to more than just academics during his undergraduate years. Along with his friend Dylan Field, who would later discover Figma, he created CourseKick, a social search engine for university course enrollment. Fascinatingly, 20% of undergraduate students have registered for the platform two weeks after it started. This encounter verified his ability to develop pertinent and required technological solutions. Finzer started his working life as a software engineer at Pinterest following graduation. But his love of invention drove him to create Claimdog in 2015, a personal financial software subsequently bought by Credit Karma. His fascination in blockchain technology started to develop here, opening the path for his next trip. Along with Alex Atallah, Finzer created WifiCoin, a token exchange system for sharing access to a wifi router. They landed in Y Combinator on this concept. The CryptoKitties phenomenon, which drove them to turn their attention to the non-fungible token ( NFT ) market, was actually the true motivation, though. Born in December 2017, OpenSea is a marketplace enabling people to purchase, sell, and find original digital goods. OpenSea has grown shockingly under Finzer’s direction. The company raised $300 million in Series C money in January 2022, therefore raising its worth to $13.3 billion. With an estimated net worth of $2.2 billion apiece at the time, this success made Finzer and Atallah the first NFT billionaires worldwide. Still, the field of technology is continually changing. OpenSea’s valuation has dropped, so Finzer’s and Atallah’s net worths as of April 2023 seem to have dropped to less than $600 million apiece. Between February and October 2024, some important leaders also left the firm: General Counsel, Head of Business and Corporate Development, Vice President of Finance, and Chief Operating Officer. These developments coincide with decreased NFT trade volumes and more rivalry from other platforms, including Blur and Magic Eden. Conversely, the US Securities and Exchange Commission ( SEC ) sent OpenSea a Wells notice in August 2024 suggesting possible enforcement action on claims that NFTs on the platform qualify as unregistered securities. Finzer responded with astonishment and promised to help NFT founders with industry lobbying funding of $5 million. Finzer is dedicated to OpenSea’s objective of helping creators and developing the NFT ecosystem despite the difficulties. Blockchain and NFT technologies, in his opinion, are still in their early years and have much promise still to be fully fulfilled. Finzer sees OpenSea as having the ability to bring similar changes to the world of digital assets, just as Amazon began as an online bookshop and subsequently altered the way we buy. Finzer discussed the idea of “Digital Twins,” whereby actual objects might have an online NFT twin, in an interview. Someone might, for instance, have a rare and costly piece of art; instead of having to physically move it every time it is sold, the NFT of the artwork can be transferred while the original owner retains the actual thing. This method not only streamlines the transaction procedure but also creates new opportunities for our perspective of ownership and the worth of goods. Finzer underlined especially the need for enhancing OpenSea’s user experience. From removing or reducing gas prices on transactions to creating a wallet that facilitates interaction with decentralized apps, all of these initiatives seek to make the platform more approachable and accessible to all.

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OpenSea has staged a dramatic comeback, reclaiming 71.5% of the Ethereum NFT market share in the past week. Just four weeks ago, its share stood at 25.5%, with Blur dominating the space. The Block reports that this surge coincides with OpenSea’s long-awaited announcement of its native token, SEA, on Feb. 13. Since the token reveal, OpenSea’s daily trading volume has skyrocketed, averaging $17.4 million, nearly five times its pre-announcement average of $3.47 million. The number of daily transactions also more than doubled, jumping from 6,100 to 14,700 trades. The bulk of this growth came in the past week, as OpenSea’s market share spiked from 42.4% to 71.5%, largely at Blur’s expense. OpenSea has encountered obstacles in its incentive rollout, despite the momentum. After users accused the platform of promoting wash trading and giving fee production precedence over actual ecosystem engagement, it recently suspended its XP-based incentives system. Devin Finzer, CEO of OpenSea, recognized the criticism and said the team is reassessing its strategy even though liquidity incentives are still crucial. You might also like: Leaked OpenSea user emails now public, SlowMist warns of phishing risks In place of the XP system, OpenSea has introduced “XP shipments,” a new rewards model targeting early adopters of its OS2 marketplace. Users who provided feedback via Discord have already received the first batch of XP rewards, while a second round is being distributed to those who have purchased NFTs on OS2. In addition, XP multipliers are available for those who’ve held top-volume NFT collections for more than three months. Although information about the SEA token is still limited, OpenSea has stated that U.S. users are eligible for the airdrop and that allocation will be based on past platform activity, which could potentially compensate traders who were active during the 2021 NFT bull run. Read more: NFT sales suffer, Pudgy Penguins plunge: Here’s the latest

OpenSea has staged a dramatic comeback, reclaiming 71.5% of the Ethereum NFT market share in the past week. Just four weeks ago, its share stood at 25.5%, with Blur dominating the space. The Block reports that this surge coincides with OpenSea’s long-awaited announcement of its native token, SEA, on Feb. 13. Since the token reveal, OpenSea’s daily trading volume has skyrocketed, averaging $17.4 million, nearly five times its pre-announcement average of $3.47 million. The number of daily transactions also more than doubled, jumping from 6,100 to 14,700 trades. The bulk of this growth came in the past week, as OpenSea’s market share spiked from 42.4% to 71.5%, largely at Blur’s expense . OpenSea has encountered obstacles in its incentive rollout, despite the momentum. After users accused the platform of promoting wash trading and giving fee production precedence over actual ecosystem engagement, it recently suspended its XP-based incentives system. Devin Finzer, CEO of OpenSea, recognized the criticism and said the team is reassessing its strategy even though liquidity incentives are still crucial. In place of the XP system, OpenSea has introduced “XP shipments,” a new rewards model targeting early adopters of its OS2 marketplace . Users who provided feedback via Discord have already received the first batch of XP rewards, while a second round is being distributed to those who have purchased NFTs on OS2. In addition, XP multipliers are available for those who’ve held top-volume NFT collections for more than three months. Although information about the SEA token is still limited, OpenSea has stated that U.S. users are eligible for the airdrop and that allocation will be based on past platform activity, which could potentially compensate traders who were active during the 2021 NFT bull run.

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