OpenSea CEO Refutes Claims of Moving Away from NFTs, Reaffirms ‘Trade Everything’ Vision

• In his presentation, OpenSea’s CEO framed the company as a viable alternative to to both centralized and decentralized exchanges.
• The CEO stated that the platform’s trading volume in October surpassed $2.6 billion, with token trading accounting for more than 90% of that amount.

Instead of “evolving” into a global platform to trade any sort of onchain asset, OpenSea CEO Devin Finzer has denied rumors that the firm is shifting its focus away from non-fungible tokens (NFTs).

This marks the beginning of OpenSea’s transition to “trade everything,” according to Finzer’s Friday post on X, where he stated that the platform’s trading volume in October surpassed $2.6 billion, with token trading accounting for more than 90% of that amount.

“We’re building the universal interface for the entire onchain economy — tokens, collectibles, culture, digital and physical,” Finzer told. “The goal is simple: if it exists onchain, you should be able to trade it on OpenSea, seamlessly across any chain, while maintaining complete control of your assets,” he added.

Trade Everything Vision

When it originally launched in 2017, OpenSea was the go-to spot for buying, selling, and trading a wide range of non-fungible tokens. Before losing steam in early 2023 as a result of the NFT market collapse and the emergence of a formidable rival, Blur, the platform maintained its position as the dominating player in the sector.

Integrating token trading, swaps, and portfolio management across 22 blockchains, OpenSea is now promoting itself as the “interface layer for the entire onchain economy,” according to Finzer. Moreover, according to him, users of the platform were managing their portfolios using a plethora of different wallets, bridges, and interfaces.

In his presentation, OpenSea’s CEO framed the company as a viable alternative to to both centralized and decentralized exchanges.  The assumption that NFTs are now considered secondary, meanwhile, was challenged by Finzer. “Trade everything” refers to the fact that “everything onchain is core to our business model,” he said.

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