OpenSea's NFT Boom
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A story about OpenSea's remarkable growth from surviving the crypto bear market to becoming the dominant NFT marketplace.
"OpenSea started in 2017 and the bear market hit pretty much immediately. I know people who were building their competitors and they ended up folding because there was no interest. These guys were like the cockroaches that just stayed alive.
In 2020, they did $24 million in GMV - pretty small overall. This year they did $15 billion. Going from $24 million to $15 billion in 1 year - that's 650x growth. They basically created a market, or at least they're part of a market that was nonexistent a couple years ago."
Note: Story combines quotes from both Shaan Puri and Sam Parr discussing OpenSea's growth trajectory.
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.