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Unchained

How NFT Platform OpenSea Plans to Maintain Its Competitive Advantage - Ep.232

Unchained

Laura Shin

News, Tech News, Business News

4.61.3K Ratings

🗓️ 27 April 2021

⏱️ 64 minutes

🧾️ Download transcript

Summary

Devin Finzer, co-founder and CEO of NFT marketplace OpenSea, talks all things non-fungible. Check out the whole show to hear Devin answer the following questions:   First Half: Breaking Down NFTs Why did he become so interested in NFTs ?  What is an NFT? Why have NFTs become so popular recently?  Who is creating NFTs? Who is purchasing NFTs?  Are we in an NFT bubble?  How is the NFT ecosystem going to evolve over the next few years?  What are people purchasing when they buy an NFT?    Second Half: OpenSea Q+A What is OpenSea?  How will OpenSea maintain its competitive advantage in the open-source blockchain ecosystem?  How does OpenSea make money?  Are artists making money on OpenSea?  How is OpenSea planning on integrating with layer 2 solutions on Ethereum and other blockchains?  How do royalties work on OpenSea? Why are they hard to enforce?  What can be done about content being minted on OpenSea without an artist’s permission?  What issues in the NFT world still need to be resolved?  How is OpenSea handling the environmental concerns surrounding NFTs?  What’s next for OpenSea?    Thank you to our sponsors! E&Y: https://ey.com/globalblockchainsummit Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2  Kyber Network: Dmm.exchange   Episode Links   Basic Links Devin’s Twitter https://twitter.com/dfinzer?lang=en  OpenSea https://opensea.io/    Devin Finzer Content Podcast appearances https://www.owltail.com/people/YzIoa-devin-finzer/appearances  The NFT Bible https://opensea.io/blog/guides/non-fungible-tokens/ Blockchain gaming (2018) https://www.coindesk.com/the-emerging-trends-in-the-blockchain-gaming-world    OpenSea Profiles Fortune https://fortune.com/2021/03/18/nft-art-crypto-marketplace-opensea-amazon/ CoinDesk 50 for 2020 (#47) https://www.coindesk.com/the-coindesk-50  Recent announcements scaling solution w/ Immutable X (Mar 31) https://www.coindesk.com/nft-opensea-immutable-layer-2-protocol-ethereum  https://decrypt.co/65828/immutable-x-ethereum-nft-gods-unchained  A16z investment (Mar 18th) https://a16z.com/2021/03/18/investing-in-opensea/  updating terms of service (Mar 13) https://twitter.com/opensea/status/1370895902068637697  taking down the hacker NFT (Mar 9) https://www.coindesk.com/hacker-selling-cybersecurity-exploit-nft unlockable content (early March) https://twitter.com/opensea/status/1366780226416631817  Tezos collab (Feb 10) https://twitter.com/opensea/status/1359519631275352064  creating NFTs for free (Dec 29) https://opensea.io/blog/announcements/introducing-the-collection-manager/  https://twitter.com/xanderatallah/status/1358848443356221445  recent usage: https://duneanalytics.com/rchen8/opensea 2018 investing round https://www.coindesk.com/ebay-cryptokitties-raises-2-million-star-vcs  https://opensea.io/blog/announcements/opensea-raises-2-million/  Other Terms of service talk https://www.reddit.com/r/opensea/comments/m12uh4/do_i_keep_the_rights_to_any_nft_i_sell_on_opensea/ Stats https://www.forbes.com/sites/youngjoseph/2021/03/29/nft-market-rages-on-nfts-market-cap-grow-1785-in-2021-as-demand-explodes/?sh=2974862a7fdc  https://duneanalytics.com/rchen8/opensea Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi, everyone. Welcome to Unchained, your no-hype resource for all things crypto. I'm your host,

0:08.8

Laura Shin, a journalist with over two decades of experience. I started covering crypto

0:13.6

five years ago, and as a senior editor at Forbes, was the first mainstream media reporter

0:18.1

to cover cryptocurrency full-time. Follow Unchained on Twitter at Unchained underscore pod,

0:23.7

where you can find all sorts of content ranging from my weekly newsletter to updates on my upcoming

0:28.4

book and a whole lot more. Kuiper's dynamic market maker, DMM is the first DeFi protocol designed

0:35.8

to adapt to market conditions, to optimize fees, maximize returns, and enable extremely high

0:42.3

capital efficiency for liquidity providers. Today's episode is sponsored by EY Blockchain. Ernst

0:49.4

and Young is committed to supporting integration of the world's business ecosystems on the public

0:54.2

Ethereum blockchain. The Crypto.com app lets you buy, earn, and spend crypto all in one place.

1:01.2

Earn up to 8.5% interest on your Bitcoin, and 14% interest on your stable points paid weekly.

1:08.5

Download the Crypto.com app and get $25 with the code Laura. The link is in the description.

1:15.1

Today's guest is Devon Fincer, co-founder and CEO of OpenC. Welcome, Devon.

1:21.2

Thanks so much for having me, Laura. I'm a big fan of the podcast, so it's really

1:25.6

an honor to be here. Great to have you. Why don't you tell us the story of how you got into crypto

1:31.2

and came to Found OpenC? Sure. I got introduced into crypto in 2017. I followed Bitcoin peripherally

1:41.1

before that, but I suppose I was a little bit of a late adopter, although sometimes people

1:45.6

now nowadays 2017, maybe it's considered early. I don't know. That's what I really fell

1:52.0

down the crypto rabbit hole. I'd probably a pretty traditional path. There's a lot of people in

1:57.2

Silicon Valley at the time. I started reading all the white papers, going all the meetups at the time

2:02.1

you could go to in-person meetups, which was a lot of fun, and just got really excited about

2:07.2

the long-term vision of crypto. In particular, very excited about crypto going beyond just

...

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