OpenSea wants to go public despite outcry from the crypto community


OpenSea could be the next crypto-related company to go public after its new CFO, Brian Roberts, revealed in a recent interview that the company is looking to raise funds through an Initial Public Offering (IPO). .

OpenSea goes public

During the interview, Roberts, the former chief financial officer of Lyft, revealed that the IPO was an option for a company that is growing at the pace of OpenSea. According to him, “When you have a business that grows as fast as this one, you would be foolish not to think about its IPO. I’ve seen a lot of P&L (profit and loss accounts) but I’ve never seen a P&L like this. “

Continuing on why OpenSea would consider going public, Roberts was of the view that the company doesn’t literally need to ‘raise more money’, instead, the main NFT site would use the new funding to. “Acquire businesses, enter into partnerships and create joint ventures to further expand the use of DTVs to new industries.

With this new revelation from OpenSea, earlier speculation by the crypto community that the NFT marketplace could launch its own native token or go down the Ethereum Name Service (ENS) path in efforts to decentralize the business appears to be invalidated.

Interestingly, Brian Roberts played a major role in Lyft’s successful IPO in 2019.

The crypto community reacts negatively

Members of the crypto community reacted negatively to the announcement of OpenSea’s release, as many see it as a sign of betrayal on the part of the crypto company.

A Twitter user, Ace LivingPixelated.eth, said he expects the company to give back to the community because it has been able to be successful with the support of the crypto community. Another user, basedkarbon Noted that “OpenSea doesn’t care about the community at all.”

With this news sparking this level of outrage from the crypto community, it means OpenSea could lose the support of the community that brought it here, leaving room for competitors like FTX and Coinbase. who are also introducing their own NFT market.

OpenSea is arguably one of the biggest winners of 2021, as the NFT market has recorded over $ 10 billion in sales this year alone.


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