Alex Atallah, OpenSea
OpenSea is the first marketplace for NFTs. Alex discusses the future of NFTs and the technology making it possible
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Alex Atallah is the CTO and co-founder of OpenSea, the first and largest marketplace for NFTs. OpenSea raised its seed round from Founders Fund and Coinbase, and recently raised a $23M Series A led by a16z, Naval Ravikant, Alexis Ohanian, and more.
Per Katie Haun at a16z, ‘NFTs are blockchain-based records that uniquely represent pieces of media. When you purchase an NFT, it’s yours to control as you see fit, similar to when you buy a physical good. You can transfer it, sell it, collateralize it, lend it, or keep it for yourself to admire. Early use cases for NFTs include digital art, virtual land, sports, and collectibles.’
In our conversation, Alex shares the background of NFTs, from Cryptokitties to art on the blockchain, and how communities that were focused on technology, over speculation, have led to the rise of NFTs. Alex discusses Opensea's strategic plan to gradually decrease gas costs with the adoption of Matic and Klaytn, eventually allowing users to make NFTs for free.