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| == Basics ==
| | TERRORIST ORGANIZATION MUST AVOID |
| * Based in:
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| *Founded in: 2017
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| * [[Mainnet]] release:
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| * [https://opensea.io/ OpenSea] — Buy and sell [[NFT]]<nowiki/>s
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| * From the [https://www.coindesk.com/the-coindesk-50 CoinDesk 50]:
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| "''Founded by former Pinterest engineer Devin Finzer, OpenSea has developed into the Etsy of crypto. The idea of scarcity of digital items was once unthought of, but now the largest general marketplace for crypto collectibles features more than 300 categories and over 10 million such items. Anything from [[CryptoKitties]] to artworks and game pieces can be trustlessly bought and sold by users from around the world. Having dominated the non-[[fungible]] [[token]] market, OpenSea is seeing traction outside of the crypto ecosystem by expanding into asset classes like domain names, software licenses and even physical assets."''
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| ==History ==
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| * [https://decrypt.co/61947/opensea-series-a From] [[Decrypt]] (18-3-2021):
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| ''"OpenSea was founded in 2017, as a product of [[Y Combinator]]’s startup accelerator program."''
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| == Audits & Exploits ==
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| *[[Bug bounty]] program can be found [insert here].
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| === Bugs/Exploits ===
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| *[https://weekinethereum.substack.com/p/week-in-ethereum-news-june-11-2022?s=r From] [[Week In Ethereum|Week in Ethereum]] (11-6-2022):
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| ''"OpenSea Wyvern vulnerability [https://nft.mirror.xyz/VdF3BYwuzXgLrJglw5xF6CHcQfAVbqeJVtueCr4BUzs disclosed], $3 million bounty paid."''
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| *[https://decrypt.co/91513/opensea-refunds-ethereum-users-lost-nfts-inactive-listing-exploit?utm_source=telegram&utm_medium=social&utm_campaign=smt From] [[Decrypt (DCPT)|Decrypt]] (29-1-2022):
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| ''"OpenSea has now reimbursed 750 Ethereum, about [https://fortune.com/2022/01/28/opensea-reimburses-users-1-8-million-bug-sell-nfts-bored-ape-yacht-club/ $1.8 million], to users who accidentally sold valuable [[NFTs]] at well below their going market rate through an exploit involving “inactive listings.” Recently, several users of the leading NFT› marketplace had complained that their blue chip NFTs, such as those belonging to the [[Bored Ape Yacht Club]] ([[BAYC]]) collection, had been purchased at old, cheap listing prices. These listings were never canceled on the [[blockchain]], even though the user interface on OpenSea suggested that they had been."''
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| *[https://www.blockthreat.io/p/blockthreat-week-41-2021?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo0MzQwNjA4NywiXyI6IkZBQ3M5IiwiaWF0IjoxNjM2MDAyMDkzLCJleHAiOjE2MzYwMDU2OTMsImlzcyI6InB1Yi04MTA1Iiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.ylsAgHF23s6f4FSfbize8p9LN6SQtN From] [[Blockthreat]] (2-11-2021):
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| ''"OpenSea patched an actively exploited XSS [https://blog.checkpoint.com/2021/10/13/check-point-software-prevents-theft-of-crypto-wallets-on-opensea-the-worlds-largest-nft-marketplace/ vulnerability] in its marketplace after it was disclosed by Check Point. The vulnerability allowed attackers to execute [[JavaScript]] code and interact with users’ [[wallets]] by airdropping specially crafted NFTs."''
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| *Their Head of Product Nate Chastain got [https://decrypt.co/81096/opensea-parts-ways-executive-caught-trading-ethereum-nft-insider-info?utm_source=telegram&utm_medium=social&utm_campaign=smt caught] with his hand in the cookie jar (17-9-2021):
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| ''"OpenSea has parted ways with Nate Chastain, its former head of product, after the executive was discovered [https://decrypt.co/80999/nft-marketplace-opensea-executive-insider-info profiting] from the trade of NFTs based on inside information."''
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| == Governance ==
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| === Admin Keys ===
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| * [https://decrypt.co/89540/opensea-freezes-stolen-bored-apes-worth-2-2m From] [[Decrypt (DCPT)|Decrypt]] (31-12-2021):
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| ''"After a collector said he lost his NFTs in a phishing attack, the top NFT marketplace reportedly stepped in to help him recover the assets. Kramer later said [[tweeted]] that “All Apes are frozen” and that OpenSea, the biggest NFT marketplace, was helping him recover his stolen assets."'' The collector also mentioned that he had not been using a [[Hardware Wallet|hardware wallet]].
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| === DAO ===
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| === Treasury ===
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| == Token ==
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| === Launch ===
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| === Token allocation ===
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| === Utility ===
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| === Token Details ===
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| == Tech ==
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| * [[Whitepaper]] can be found [insert here].
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| * Code can be viewed [insert here].
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| * Built on: [[Ethereum]] and [[Immutable X]] ([https://www.coindesk.com/nft-opensea-immutable-layer-2-protocol-ethereum 1-4-2021])
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| === How it works ===
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| === Fees ===
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| === Upgrades ===
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| === Staking ===
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| === Different Implementations ===
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| === Interoperability ===
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| === Other Details ===
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| == Oracle Method ==
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| == Privacy Method ==
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| == Compliance ==
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| * [https://thedefiant.io/nate-chastain-arrested/ From] [[The Defiant]] (1-6-2022):
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| ''"[[Nate Chastain]], the former head of product at OpenSea, left under a cloud after it was discovered that he purchased NFTs before they were featured on his former employer’s homepage and subsequently sold them as the increased exposure led to higher prices.''
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| ''Now, the U.S. Attorney’s Office for the Southern District of New York has [https://www.justice.gov/usao-sdny/pr/former-employee-nft-marketplace-charged-first-ever-digital-asset-insider-trading-scheme issued a statement] that Chastain was arrested on June 1 in New York City. The FBI will charge Chastain with one count of wire fraud and one count of money laundering, each of which carries a maximum sentence of 20 years in prison."''
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| == Their Other Projects ==
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| == Roadmap ==
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| * Can be found [Insert [[LINK|link]] here].
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| == Usage ==
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| * [https://ournetwork.substack.com/p/our-network-issue-29-part-2 From] [[Our Network]] #29 (10-7-2020):
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| ''"In a [[snapshot]] from June of the [https://opensea.io/rankings top categories traded], virtual world projects (such as [[Decentraland]], [[CryptoVoxels]], [[the Sandbox]], and [[Somnium Space]]) were the highest volume projects on OpenSea, followed by art and digital trading cards."''
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| === Projects that use or built on it ===
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| == Competition ==
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| == Pros and Cons ==
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| === Pros ===
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| === Cons ===
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| * Their Head of Product Nate Chastain got [https://decrypt.co/81096/opensea-parts-ways-executive-caught-trading-ethereum-nft-insider-info?utm_source=telegram&utm_medium=social&utm_campaign=smt caught] with his hand in the cookie jar (17-9-2021):
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| ''"OpenSea has parted ways with Nate Chastain, its former head of product, after the executive was discovered [https://decrypt.co/80999/nft-marketplace-opensea-executive-insider-info profiting] from the trade of NFTs based on inside information."''
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| == Team, Funding, Partnerships, etc. ==
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| === Team ===
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| * Full team can be found [here].
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| * Devin Finzer; founder
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| === Funding ===
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| * Is part of the [https://www.1confirmation.com/portfolio portfolio] (9-3-2020) of [[1confirmation]]. Which also has Authereum in its portfolio.
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| *[https://decrypt.co/61947/opensea-series-a From] [[Decrypt]] (18-3-2021):
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| ''"Raised $23M. The round was led by [[Andreessen Horowitz]]. Dallas Mavericks owner (and [[Ethereum]] enthusiast) [[Mark Cuban]], angel investor [[Naval Ravikant]], and [[Metapurse]]—a fund from the pseudonymous [[NFT]] investor [[MetaKovan]]—have also invested in the company."''
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| * OpenSea has reached a $1.5B valuation after [https://newsletter.thedefiant.io/p/-opensea-becomes-first-nft-unicorn?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozOTAxNjY0NSwiXyI6IitrN3VtIiwiaWF0IjoxNjI3MjMwMDk0LCJleHAiOjE2MjcyMzM2OTQsImlzcyI6InB1Yi0xMTI1OSIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.O6TjFhb7uyA8 a $100M Series B] funding round led by [[A16z crypto|a16z]] (21-7-2021).
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| *OpenSea has closed a [https://www.theblockcrypto.com/linked/129250/opensea-eyeing-raise-that-would-value-it-at-13-billion-with-backing-from-coatue-and-paradigm-sources $300 million Series C funding] round that values the company at $13 billion (4-1-2022).
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| *[https://www.theblockcrypto.com/linked/143579/decentralized-exchange-infrastructure-provider-0x-labs-raises-70-million?utm_source=twitter&utm_medium=social Joined] in the Series B for [[0x Protocol (ZRX)|0x Labs]] (26-4-2022).
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| === Partners ===
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| * [https://medium.com/authereum/authereum-is-live-f97d88e7153e Used by and partners with]<span class=""> </span>[[Authereum]]<span class=""> (12-2-2020).</span>
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| ==(:==
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| Knowledge empowers all and will help us get closer to the [[decentralised|decentralized]] world we all want to live in!
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| Making these free wiki pages is fun but takes a lot of effort and time.
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| If you have enjoyed reading, tips are appreciated :) This will help us to [[keep]] expanding this archive of information.
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| [[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
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| [[Category:Companies/Organisations]]
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