OpenSea chief executive officer Devin Finzer has disclosed that the New York-based marketplace for non-fungible tokens (NFTs) is open to M&A opportunities.
In an interview with DLNews, Finzer revealed that OpenSea has been charting new waters, openly expressing interest in acquiring and potentially being acquired, amid the fluctuating fortunes of the NFT world.
“We think that if the right partnership comes along, then that’s something we should certainly consider,” Finzer said in the interview.
However, while acknowledging that OpenSea is receptive to such prospects, Finzer did not provide details on the timing or the interested parties. He also emphasized that currently, OpenSea is not pursuing an active search for buyers.
In the interview, Finzer conveyed an agile strategy for navigating the uncertain tides of the digital collectibles space, indicating that OpenSea is ready to embrace partnerships that align with its vision for the future.
The sharp decline in trading volumes witnessed in 2023 has challenged the NFT marketplace’s dominance, bringing it down from a peak that encapsulated 90% of the market to a mere $171 million.
And while relatively newer platforms like Blur have surged ahead with aggressive tactics and token airdrops, Finzer insisted that OpenSea still maintains a stronghold on user
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Author: Julius Mutunkei
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