86 - OpenSea & The Business of NFTs | Devin Finzer
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 4 October 2021
⏱️ 63 minutes
🧾️ Download transcript
Summary
Devin Finzer, founder & CEO of OpenSea, returns to Bankless to discuss the NFT boom and the role of OpenSea at the center of it all. From Devin's perspective, the energy surrounding NFTs right now is crypto native. This means that this boom starts at the center of crypto culture and extends outwards from there.
We also discuss scaling and gas fees, the spectrum of centralization, the metaverse, and the OpenSea's recent front-running scandal. Building with an open mind and conviction is a key reason why OpenSea finds itself at the center of the NFT markets today, and it looks like we may just be getting started.
✨EXCLUSIVE EPISODE DEBRIEF✨
https://shows.banklesshq.com/p/exclusive-debrief-opensea-and-the
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Topics Covered:
0:00 Intro
4:00 Devin Finzer
6:05 The Crypto Native NFT Boom
9:15 Building With an Open Mind
11:36 OpenSea at the Center
18:06 Scaling Under Pressure
22:24 Gas Fees
25:01 Social Media & Users
32:00 Before OpenSea & The Bear
39:50 When NFTs Heated Up
41:45 The Front Running Scandal
48:21 The Centralization Spectrum
55:31 What’s the Metaverse?
58:24 Rapid Fire Questions
1:01:43 Closing & Disclaimers
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Resources:
Devin on Twitter:
https://twitter.com/dfinzer?s=20
OpenSea:
https://opensea.io/
NFT Bull Market Episode:
https://youtu.be/cmLJHlNlH1s
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://newsletter.banklesshq.com/p/bankless-disclosures
Transcript
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| 0:00.0 | Welcome to Bankless, where we explore the frontier of internet money and internet finance. |
| 0:12.4 | This is how to get started, how to get better, and how to front run the opportunity. |
| 0:16.4 | This is Ryan Sean Adams, I'm here with David Hoffman, and we're here to help you become |
| 0:21.2 | more bankless. |
| 0:22.5 | David, great episode today with, I guess maybe the unicorn of the year that's Devin |
| 0:27.2 | Finster, he's not the unicorn, of course, his company is, that's OpenC. |
| 0:32.0 | What do we cover here? |
| 0:33.0 | A little bit of everything going from the complete history of the genesis of OpenC to where |
| 0:37.8 | we are today. |
| 0:39.5 | Also talking about Devin's perception as to why NFTs blew up at all in 2020 and 2021. |
| 0:46.7 | Why is society ready for them in today's age? |
| 0:49.8 | What's the appropriate context? |
| 0:51.4 | We also talk about the insider trading, which Devin corrected that term to be something |
| 0:55.9 | else. |
| 0:56.9 | We talked about that whole debacle and, but you really use that as a jumping off point |
| 1:01.2 | to talk about the nature of OpenC as a company rather than something like Uniswap or Awe |
| 1:07.1 | or Compound, which is a decentralized app on Ethereum. |
| 1:10.1 | Talked about that spectrum and also asked, is OpenC going to go the whole committed centralized |
| 1:15.8 | company route or going to go down the DeFi application route? |
| 1:19.2 | I asked in the question, what's more likely an IPO or a retroactive air drop? |
| 1:23.7 | And so stay tuned for his non-answer there. |
| 1:28.4 | And all in all, just had a fantastic time. |
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