During the crypto bull run, the market for non-fungible tokens (NFT) grew and is now worth billions of dollars. With a January value of $13.3 billion and an estimated 90% market share, NFT exchange OpenSea has become the industry leader. CEO and co-founder Devin Finzer is in charge of the company.

Since then, NFTs have had a rough ride. Since January’s high, trading volumes have decreased by more than 90 percent, prompting exchanges like OpenSea to execute massive layoffs. New entrants such as Magic Eden pose a challenge to OpenSea’s supremacy. Speculations of an OpenSea IPO have dissipated. Apple and Google’s high marketplace fees make it hard to believe that NFT trading will become popular on mobile devices.

Also read; Andrew Cronje Launches a New NFT Marketplace to Rival OpenSea

If long-term growth in the NFT industry happens, OpenSea can take advantage of it. However, there are several obstacles to overcome shortly. There are clear pockets of enthusiasm in the market, but the issue is whether this excitement will materialize and if OpenSea is well-positioned to capitalize on it.

One of the things we will talk about with Finzer on stage at TechCrunch Sessions is crypto. We will ask him what kinds of uses for NFTs he thinks have the most potential and what the company does to keep its first-mover advantage and find new growth opportunities in a lousy market. The event takes place in Miami on November 17th. Join the web3, DeFi, and NFT communities to stay up with the ever-changing and always-exciting crypto world, and save $150 with the early bird price when you get your ticket now.

OpenSea plans to reduce staff by 20%. Devin Finzer, co-founder of the company, wrote about it on his Twitter.#NFT #NFTcommunity #NFTs #DeFi #Crypto #Web3 #btc #Bitcoin #metaverse #opensea ‌ #cryptonews #cryptocurrency pic.twitter.com/3BwMDu8eNI

— NFTmetaCat (@nf_tmeta) July 15, 2022