What is OpenSea and how does it work?
OpenSea brings together a growing community of Ethereum, Polygon, and Solana NFT artists, creators, and traders.
OpenSea is the largest marketplace for buying, selling, and creating non-fungible tokens (NFTs) from Ethereum, Polygon, and Solana. This platform functions as a virtual marketplace where anyone can purchase digital artwork, virtual objects, or avatars from different metaverses and video games. OpenSea serves as a way for artists and creators to exhibit and auction their work in an online space.
OpenSea was born in 2017, a crucial year for cryptocurrencies and NFTs.
OpenSea reached $40 billion in total trading volume by 2024.
With the expansion of Ethereum NFTs to other networks, OpenSea integrated Polygon and Solana.
OpenSea supports Ethereum ERC-721 and ERC-1155 tokens and their versions on Polygon and Solana.
OpenSea is open source, but some of its functions are restricted in several countries.With the popularization of Ethereum NFTs in 2017, whose greatest exponent at the time was the Cryptokitties project, the idea of an online marketplace that allowed people to buy and sell digital objects was not long in coming.At the time, the NFT market was small and very few people ventured into creating or trading this type of asset, but developers and entrepreneurs Devin Finzer and Alex Atallah understood that there was a promising future in this new ecosystem.
Who are the creators of OpenSea?
Devin Finzer and Alex Atallah created OpenSea. Devin Finzer is the CEO of this company, but he had previously co-founded the finance apps Claimdog and Credit Karma. For his part, Alex Atallah is OpenSea's chief technology officer, had a brief stint as an engineer at Apple, was head of Whatsgoodly, and co-founded a social network called Dormilink. In 2023, he founded OpenRouter in parallel and is its current CEO.
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