OpenSea CEO bets on use cases for NFTs, says trading volumes can be ‘misleading’
Devin Finzer, the CEO of OpenSea, a once $13 billion valued NFT marketplace, is now going long on NFTs as the platform is exploring new use cases. In an interview with Bloomberg, the OpenSea CEO said the platform wants to build the most compelling use cases for non-fungible tokens (NFTs) as its trading volumes keep falling. DappRadar data reveals that OpenSea’s trading volumes currently stand at approximately $3.5 million, trailing behind competitors like Blur and OKX NFT, which have volumes of $20.8 million and $4.4 million, respectively. Trading volumes among NFT marketplaces | Source: DappRadar Speaking of trading volumes, Finzer said the New York-headquartered startup tends to not focus “too much on kind of the short-term, marketplace dynamics,” adding that “trading volumes can be a little bit misleading at times” as OpenSea’s competitors incentivize activity with their tokens. You might also like: OpenSea CEO announces layof...