Be like
@opensea
Early Success:
> founded in 2017 on the thesis of being “Amazon/eBay of NFTs”
> raise $2.1Mn based off this in 2019
> be early to catch the NFT boom in 2021
> raise more funds with 3 new rounds
> generate billions in monthly trading volume and earn 2.5% from it
> make as much as $2.7Bn trading volume in a day in 2022
> push your valuation to be as high as $13.3Bn in 2022
> make a bank from NFT projects and NFT buyers without giving them anything back
> be adamant on dropping a token and/or rewarding users in 2021-2023
> make no improvements in UX and UI because you don’t need to as you’re the only legitimate NFT marketplace out there
> be involved with insider trading scandal led by one of your ex-employees who’s now in jail
> have your database exploited which led to emails & identities of your users to be divulged
Competitive Era:
> have your feet swept from the ground with the arrival of Blur
> make no improvements on UX/UI to be more trader friendly similar to Blur despite users asking for it
> do nothing as Blur introduced airdrop seasons that incentivized farming NFTs via bidding, listing, and wash trades
> try to defend royalties for yourself and NFT projects by objecting to lowering platform fees to 0% and royalties to 0.5% similar to Blur
> find yourself eventually giving in and following Blur’s fees
> see yourself lose market leadership in NFTs to Blur in the height of farming season
> watch Magic Eden transition from being a Solana NFT marketplace to being a multi-chain marketplace
> see some top NFT projects like Yuga Labs partnering with Magic Eden instead because you didn’t defend royalties vs. Blur
> watch Blur burn NFTs to ground by farming NFTs to death and launching their token
$BLUR, then their L2, Blast
> watch Magic Eden do the same formula as Blur by incentivizing trading volume as they launch their token,
$ME
> still be adamant about launching your own token despite your major competitors doing it
OS2 Era:
> tease that you’ll finally drop a token,
$SEA, as early as Feb 2025
> launch OS2 in 2025 to cater to multi-chain NFTs
> introduce token trading (aka memecoins and such) to also be tradable in OpenSea
> lower platform fees to 0.5% similar to Blur before
> improve UX and UI for traders by copying Blur’s UX and UI before
> introduce gamified rewards via Voyages XP
> announce that 50% of
$SEA supply will go to the community and the way for them to get it is to stack XP via trading
> announce in Oct 2025 that
$SEA TGE will be in Q1 2026
> continue farming your users for a year by having 6 waves for
$SEA campaign
> make an online live event on Mar 30, 2026 and excite your followers about the next phase of OpenSea
> break the news that
$SEA will be delayed beyond Q1 2026 even before the Mar 30 event to manage expectations
> offer refund of trading fees from waves 3-6 to deal with the user frustrations but only offer waves 3-6 because these are peanuts compared to waves 1-2
Be early.
Be complacent.
Be stubborn.
Be a copycat.
Be late.
Be delayed.
Be disappointing.
Be like OpenSea.