OpenSea CEO Open-Minded About Acquisition Deals

Devin Finzer, OpenSea’s CEO, has openly expressed the possibility of the company’s acquisition by major corporations in the future, revealing a receptive stance in the NFT marketplace.

Finzer recently stated that OpenSea would entertain the idea of getting involved if the right deal presented itself.

OpenSea CEO Considers Acquisition as a Possibility

A recent report explained OpenSea’s willingness to be acquired by larger firms, aligning with expectations of a bull market this year. Finzer supports the idea, provided the company aligns with OpenSea:

“We think that if the right partnership comes along, then that’s something we should certainly consider…we like to keep our options open.”

As the NFT market is expected to experience significant global revenue growth in the upcoming years, the inclination towards NFT firms receiving acquisition offers is more likely.

Read more: OpenSea Review: Everything You Need To Know

According to recent data from Statista, the year-end NFT revenue is expected to reach around $2.38 billion, with a further increase to approximately $3.37 billion by 2028.

NFT Worldwide Revenue Forecast. Source: Statista

However, Finzer further explains that they have had interest previously, but did not reveal timeline or parties involved.

NFT Prices Down, Quantity Sold is Up

Meanwhile, BeInCrypto recently reported that NFT prices are not replicating the surges witnessed in 2021.

Despite the decline in both prices and trading volumes, there has been a substantial increase in the quantity of NFTs sold. According to a recent report from DappRadar, the number of NFTs sold throughout 2023 increased significantly:

“NFTs have become a lot cheaper throughout 2023, and therefore the trading volume dropped 49% to $12.6 billion. However, the number of NFTs sold increased 445% to 60 million.”

Read more: Top 9 OpenSea Alternatives in 2023

Furthermore, Blur took out the number one spot in NFT trading volume. It saw a “56% yearly dominance,” while OpenSea maintains the highest trader count, with an average of 280,000 traders per month.