The Founding Duo of OpenSea Become New Billionaires thanks to NFT All

KOMPAS.com – Two founders OpenSea, Alex Atallah and Devin Finzer, become new young billionaires thanks to the popularity of assets non-fungible token (NFT).

Both are now estimated to have a net worth of US$2.2 billion each, or around Rp. 31.5 trillion.

Atallah and Finzer are only in their 30s. Devin Finzer once worked as an engineer software on Pinterest in 2015. That same year, Finzer also founded start-up the first was named Claimdog which was later sold to Credit Karma.

Meanwhile, Alex Atallah is a graduate of Stanford University and has worked at Palantir. He then worked at start-up Silicon Valley, Whatsgodly, dan Zugata.

Also read: Terms and How to Make Money via NFT

The wealth that they now have is none other than the popularity of NFT, which has made OpenSea a trading platform for digital assets, and has attracted the attention of investors.

OpenSea is marketplace or online marketplace for NFT. The service was founded by Atallah and Finzer in December 2017 and is now valued at $13.3 billion. This number increased rapidly compared to six months ago, where the valuation was only 1.5 billion US dollars.

Summarized KompasTekno from Forbes, Wednesday (19/1/2022), the founders of OpenSea are estimated to own a stake of 18.5 percent, or each worth 2.2 billion US dollars. This number makes them the world’s first NFT billionaires.

Also read: Here’s How to Buy and Sell NFT on OpenSea along with the conditions

OpenSea is also one of the early players in the NFT market. On OpenSea, users can sell or buy all types of NFT with a 2.5 percent discount on each sale.

OpenSea Valuation

In March 2020, OpenSea said the number of monthly active users reached 4,000 people with a transaction value of around US$1.1 million (Rp 15.7 billion). In the same year, OpenSea received funding of around 28,000 US dollars (Rp 400 million).

This number increased in July 2021, when OpenSea raised US$ 100 million (Rp 1.4 trillion) in funding from venture firm Andreessen Horowitz, after recording monthly transactions of around US$ 350 million (Rp 5 trillion).

Monthly OpenSea transactions continued to increase in August 2021 reaching US$3.4 billion (Rp 48.7 trillion). This achievement also made the company obtain additional funding of around 85 million US dollars (Rp 1.2 trillion).

Also read: How Does NFT Work?

Most recently, OpenSea received funding of 300 million US dollars (Rp 4.3 trillion) from a funding round led by Paradign and Coatue Management. This injection of funds brings OpenSea’s current valuation to US$13.3 billion, or around Rp. 190 trillion.

According to the company, these funds will be used to develop the product, team, customer security and community. In addition, this funding also allows OpenSea to make acquisitions.

The news from Axios said that OpenSea was considering an acquisition start-up purse crypto- Dharma Labs.

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