Crypto startup, OpenSea NFT Marketplace announced to go IPO instead of an ICO

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Recently, former CFO of Lyft Inc, Brian Roberts joined the world’s largest decentralized marketplace OpenSea.

What Happened: A new CFO at OpenSea is confident the company will go public soon according to a recent Bloomberg article.

Lyft Financial Director Roberts moves to Cryptocurrency Startup OpenSea

“I’ve never seen a profit and loss statement like this before,” remarked Roberts.

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We often think about taking our company public because it would be well-received by the public – especially due to how quickly we’ve grown.

What is OpenSea?

It is the leading marketplace for digital goods on the Ethereum blockchain. They have a reported valuation of $10 billion after just an investment round, which they raised not too long ago.

New appointed CEO, Roberts, says that the company is already profitable and doesn’t need investment from outside sources.

In April, the largest U.S.-based crypto exchange went public and many people in the crypto industry see it as a watershed moment for crypto.

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OpenSea’s trading volume has already exceeded $10 billion and people are interested in NFTs for sure. With that alone, an IPO would be significant.

However, some members of the crypto community took issue with the fact that company had planned an IPO instead of issuing its own crypto token.

Also Read:
Shiba Inu to Burn Some Coins and Leap Onto the Metaverse universe
A crypto collector who bought $532 million Cryptopunk NFT

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