We’ve built the first (and largest) peer-to-peer marketplace for crypto assets, which include collectibles, gaming items, and other assets backed by a blockchain. We're operating in a brand-new market but growing rapidly: we had $1.8M in trading volume last month, over 4 million assets listed on our marketplace, 200+ apps using our platform, and power the crypto asset integration for Coinbase Wallet and Opera.
Our team has backgrounds from Stanford, Palantir, Pinterest, and Google, and is funded by YCombinator, Founders Fund, Coinbase Ventures, 1Confirmation, and Blockchain Capital.
You've never really
ownedyour digital stuff: game items, event tickets, domain names, Twitter usernames, are all just rows in a database. Blockchains are changing the nature of digital ownership, and OpenSea is a native marketplace for a brand new economy powered by true digital ownership. We started with games and collectibles, but we’re quickly expanding to other asset classes: event tickets, domain names, digital art, and we’re even working with custodians of physical assets.
We're growing our volume roughly 30% month over month in a brand new space. We have 4 million assets listed, over 200 decentralized applications integrating with OpenSea, and our API powers all of the major wallets—Coinbase Wallet, Trust Wallet, Opera, and more.
We're funded by YCombinator, Founders Fund, Coinbase Ventures, 1Confirmation, and Blockchain Capital. The founding team has backgrounds from Pinterest, Google, Palantir, and Facebook, and previously sold companies to Credit Karma and Beatport.
We're a team of four engineers. Both of the co-founders are technical, so our DNA is highly engineering driven, but we all have a strong passion for product and design. Engineers work directly with our designer to build new features, and have a direct say in what gets built.
Our product is an intersection of 1) a feature-rich marketplace with a growing set of user-facing features (bidding, bundling, watching, chat, etc.), and 2) a new technology platform (blockchain) that comes with a brand new set of challenges and opportunities. We're building the first open marketplace for blockchain-based assets, which means that we're pioneering brand new ways of trading digital assets: atomically swapping assets with escrowless smart contracts.
To power our marketplace, we've built a robust API that aggregates over 4 million assets from thousands of different data sources. This API powers not only the OpenSea frontend, but also the digital asset interfaces for some of the leading crypto wallets in the space, like Coinbase Wallet, Opera, and Binance's Trust Wallet.
A highly-requested feature from users is the ability to
barter, or trade mixed sets of assets in a single atomic swap (think back to trading pokemon or magic cards at school). Supporting this feature requires some substanital architectural changes, as well as critical thinking about the user-facing flow for this feature. On the horizon are even more sophisticated trading systems, like bidding on multiple
rareitems that might span multiple games.
As the market for assets matures, users need better tools for valuing their assets. We want to develop systems for estimating the price of an asset given its rarity and tradinghistory. This could start with simple heuristics and potentially advance to more sophisticated machine learning algorithms.
While we started with assets that are backed by the Ethereum blockchain, we'll be expanding to brand new blockchains, like Cosmos, Polkadot, as well as side-chain scaling solutions. This will require upgrading and interfacing with the core protocol layer of the OpenSea platform.
Open-mindedness We pride ourselve in open-mindedness both internally and externally. Internally, we believe everyone should have the data, tools, and platform to make an argument that goes against the grain. Externally, we're strong evangelists of open protocols. Our platform is open to anyone building user-owned digital assets, and we build on well-adopted open standards.
Intellectual honesty We're very honest about the challenges we face as a company — we know we're operating in an early, uncertain market and we never sugercoat the state of the world. We feel the ability to carefully reason about future strategy is aided by full transparency and intellectual honesty from the founding team.
The digital collectible space is naturally weird and whacky (one engineer described our company as having a high
coolness factor). From selling Formula 1 Racing cars for hundreds of thousands of dollars to CryptoKitty museums inside of virtual worlds to new decentralized domain name systems, the space we're operating in is full of weird surprises. We have a lot of fun at OpenSea, but not because we enforce tacky company traditions; our culture is a natural byproduct of the space we're operating in and the folks we bring on to the team.
We frequently travel to crypto conferences around the world, including Osaka, Japan in 2019 and Prague, Czech Republic in 2018
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