OpenSea

OpenSea

Peer-to-peer marketplace for NFTs

About OpenSea

Simplify's Rating
Why OpenSea is rated
A-
Rated A on Competitive Edge
Rated B on Growth Potential
Rated A on Rating Differentiation

Industries

Consumer Software

Crypto & Web3

Company Size

501-1,000

Company Stage

Series C

Total Funding

$415.6M

Headquarters

New York City, New York

Founded

2017

Overview

OpenSea operates a marketplace where users can buy, sell, and create non-fungible tokens (NFTs). The platform allows users to mint their own NFTs and offers a straightforward process for purchasing and selling these digital assets. OpenSea supports various blockchain networks, giving users flexibility in managing their NFTs. Unlike many competitors, OpenSea focuses on providing a user-friendly experience and strong security measures, making it accessible for artists, collectors, and investors alike. The company's goal is to facilitate the growth of the NFT ecosystem by connecting creators and collectors in a secure and efficient manner.

YC Company
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Simplify's Take

What believers are saying

  • OpenSea's AI-powered NFT tool increased trading volume of AI-related tokens by 5% in 2025.
  • The OS2 platform's cross-chain trading aligns with the trend of multi-chain NFT support.
  • The planned SEA token launch and airdrop could enhance user engagement and loyalty.

What critics are saying

  • Web3Bay's user-friendly platform could divert users from OpenSea, especially early adopters.
  • Creepz's entertainment-focused approach may attract NFT enthusiasts away from OpenSea.
  • The NFT market cap and sales volume drop over 90% since 2021 could impact OpenSea's revenue.

What makes OpenSea unique

  • OpenSea supports multiple blockchain networks, offering diverse options for digital asset management.
  • The platform simplifies NFT minting, purchasing, and selling with a user-friendly interface.
  • OpenSea's robust security features attract a wide range of clients, including artists and investors.

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Funding

Total Funding

$415.6M

Above

Industry Average

Funded Over

4 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$100M
Oura
$300M
OpenSea

Benefits

Paid family leave - Whether you’re bonding with a new child or taking care of a family member, we understand you need this time off.

Health insurance - Your wellness is important. We've got you covered. Take care of yourself to come to work happy and healthy.

Flexible vacation policy - Sometimes we all need a break. Take one, take many. Just come back recharged and inspired.

Flexible hours - We know you have personal priorities to take care of. Take care of them and work on your own hours; we’re flexible.

Work from home - Avoid long commutes in and out of the office. Instead, work in the comfort of your own home and set-up.

Workshops & conferences - Attend relevant workshops and conferences to grow and develop. It’s our priority.

Travel & company retreats - As an international team, we take the time to meet up for company retreats.

Game nights - Once a month, we set work aside and play a game or two to bond as a team.

Growth & Insights and Company News

Headcount

6 month growth

-2%

1 year growth

-2%

2 year growth

-1%
Decrypt
Mar 13th, 2025
‘Deadrop’ Game Players Claim Refunds After Dr. Disrespect’S Studio Closes

Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENEFollowing the studio’s recent closure, disgruntled fans of the discontinued shooter game Deadrop have started claiming refunds for early access passes through their banks and credit card providers.Players have mobilized in game studio Midnight Society’s abandoned Discord server to spread information on how to successfully chargeback their purchases.Deadrop was the vertical extraction shooter developed by Midnight Society, co-founded by controversial streamer Dr. Disrespect—who was later kicked out of the company due to allegations of inappropriate conversations with minors.PSA: For anyone who purchased a Drivers Key Package from Midnight Society in 2023 for @DEADROP - You can charge back and dispute the money you spent on the goods that you never received. Wanted to wait until I had confirmations on this, and it appears everyone should be able to… — Caramel (@Caramel_Hydra) March 7, 2025The game spent almost two years in early access, after the studio initially sold Founders Access Pass NFTs on Ethereum scaling network Polygon. Following that initial sale, the studio later sold $25 Tower Key passes (which weren’t NFTs), and eventually Drivers Keys for $20-30 apiece, which would unlock future in-game items of varying rarities.Once Midnight Society shut down at the end of January 2025, much of what users thought they’d spent money on was no longer going to be delivered.For example, the Tower Key purchase promised a free battle pass available upon the launch of the game’s first official season, which is no longer going to happen, leading some buyers wanting a partial refund. And those that bought a Drivers Key claim to have never received the in-game items at all.Pseudonymous gaming content creator JustAverageJay, simply known as Jay, shared receipts with Decrypt showing that he spent $449.80 on Deadrop Drivers Keys throughout October 2023, because he wanted to eventually flex the items in alongside his son, who also played Deadrop.On top of this, Midnight Society pledged that legendary items, obtained through the Drivers Keys purchases, would later be tradable on its marketplace

The Coin Rise
Mar 8th, 2025
Web3Bay Set to Overtake OpenSea - Cardano ETF Awaits Approval While XLM Targets $0.4

By linking digital creators, asset holders, and purchasers in a user-friendly space, Web3Bay aims to offer a platform that competes with OpenSea, favoring those who join early.

VentureBeat
Mar 1st, 2025
Creepz Touts Web3 Brand With $400M In Nft Backing And Two Upcoming Games

After operating under the radar, Creepz is officially emerging from stealth to capitalize on the $419 million valuation for its non-fungible tokens and become an entertainment brand.Creepz is backed by WME, major esports organizations, and Stoopid Buddy Studios. The company, created by an artist named Overlord, said it is unveiling a Web3-native intellectual property (IP) by delivering real entertainment products—not just speculation.As part of its official debut, Creepz is launching two flagship games powered by $CREEPZ, a native ecosystem token yet to be launched. The first game is Creepz Clas, a multiplayer shooter combining frenetic combat with strategic gameplay, bringing the Creepz universe to life.The second is the Redacted Party Game, a multiplayer party game designed for both casual and competitive play, offering an immersive social experience.Creepz has secured strategic partnerships that further solidify its position in entertainment culture. It has partnered withWME ThreeSixZero Representation, which are agencies securing top-tier media and entertainment opportunities, as Creepz seeks to go beyond Web3.Creepz is making two Web3 games.It also has a Stoopid Buddy Studios collaboration. The creative force behind animated series like Robot Chicken and Crossing Swords will help bring the Creepz universe to life through storytelling and animation.And it has a partnership with esports company M80, which has been growing its brand in esports.Creepz said it wants to create a “seismic shift” in how Web3-native brands enter mainstream entertainment. Unlike other projects that rely solely on token speculation, Creepz is rolling outa full ecosystem at $CREEPZ TGE

Blockchain News
Feb 26th, 2025
NFT Market Cap and Sales Volume Drop Over 90% Since 2021

On February 22, 2025, OpenSea announced the launch of an AI-powered NFT creation tool, which led to a 5% increase in the trading volume of AI-related tokens like FET (Fetch.AI) on February 23, 2025 (OpenSea, 2025; CoinGecko, 2025).

JD Supra
Feb 24th, 2025
Weekly Blockchain Blog - February 2025 #4

U.S. nonfungible token (NFT) marketplace OpenSea recently announced the launch of its new OS2 digital asset trading platform, which expands into token trading, including cross-chain token trading.

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