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OpenSea CFO Brian Roberts has clarified that the NFT marketplace is not planning an IPO any time soon. The clarification comes following recent rumors that the company was looking to raise funds.
The CFO of NFT marketplace OpenSea, Brian Roberts, has confirmed that the team is not planning an IPO. Rumors have emerged in the past few days that the company was thinking of going public, but the latest statement confirms that it is not an imminent possibility.
Bloomberg first reported the news on Dec 6, which also covered Robert’s entry into the OpenSea team, which only happened in the first week of the month. It noted that OpenSea was looking to raise funds, though that was in the early stages. Roberts had said that with a company “growing as fast as [OpenSea], you’d be foolish not to think about it going public,” which is where the rumors stemmed from.
In the tweet, however, Roberts said that there was a big gap between “thinking about what an IPO might eventually look like and actively planning one.” Perhaps the idea was just thrown about in the team, but not one that was taken very seriously — at least for now. He also added that if OpenSea ever did plan an IPO, it would look to involve the community.
The crypto community seems less than enthusiastic about OpenSea planning an IPO, however, saying that the success of the platform is because of the community. With an IPO, investors would have more influence on the platform.
It\s not surprising that rumors exist of a potential IPO, as OpenSea has been doing phenomenally well. It’s currently the top NFT marketplace on the market, with volumes considerably exceeding those of other platforms.
OpenSea volumes and usage are still strong
NFTs have taken over DeFi in terms of hype and daily headlines, as more and more celebrities and companies take to the unique asset. The surge in popularity has led to major milestones for OpenSea, including crossing $10 billion in all-time sales volumes in November 2021.
Monthly trading volumes have also been consistently breaking the $1 billion mark, which is proof that interest isn’t flagging. New trends in the NFT space, as well as the crypto market in general, have supported the growth of these assets.
For instance, the ease of creating an NFT has led to many lesser-known artists minting NFTs on OpenSea. While it is often the larger sales that catch the attention of the media, platforms like OpenSea have led to good revenue for these artists.