Is the story of NFTs over? OpenSea CEO assesses the situation

In an exclusive interview with BeInCrypto, Devin Finzer, co-founder and CEO of OpenSea, discusses the state of non-fungible tokens (NFTs) and the future of the digital marketplace. Amid speculation about the decline of NFTs, Finzer provided a clear vision for continued growth and innovation.

The rise of sponsored games and NFTs

Finzer emphasized that non-fungible tokens (NFTs) are not dead. In fact, gaming and physically backed NFTs are areas of growing interest among market participants.

That's why I entered Open Sea Partnering with Courtyard on projects including Pokémon cards and with leading game developers like Parallel and Revolving Games.

“We are constantly seeing new use cases for OpenSea. Ensuring OpenSea is home to all types of NFTs is critical to integrating the next wave of collectors.” Finzer told BeInCrypto.

OpenSea has also revamped its portfolio pages, giving content creators richer, customizable pages to tell their project's story. This adaptability extends to different types of NFTs, whether profile photos, games or physical objects.

According to Finzer, the platform is committed to evolving with new utility trends, ensuring that the marketplace remains one of the best places to buy, sell and collect NFTs.

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Right now it's riveted Focus on OpenSea Ideal for improving user experience in games. The company introduced immersive game trailers and a new exchange standard, improving the core user experience. These features aim to deepen OpenSea's verticality for specific NFT domains.

Finzer said: “Games where it is important to highlight gameplay through video are a good example of this. ».

The massive gaming industry is expected to drive the adoption of NFTs. As more players become first-time NFT owners, a frictionless onboarding experience becomes essential.

Finzer stressed the importance of players trying the game before purchasing an NFT card, which requires richer promotion. He also highlighted the potential for interoperability, in which items or statuses earned in one game can unlock experiences in another, facilitated by open digital ecosystem standards.

The Journey to 1 Million More NFT Users...OpenSea's Efforts

The recent rise in the cryptocurrency market has led to innovation, with infrastructure improvements making NFT transactions more attractive and profitable. Finzer believes these developments are necessary to accommodate the next wave of users.

And he said: "We believe these investments provide an important foundation for onboarding the next million users.".

For example, OpenSea's new cold-start onboarding experience simplifies wallet creation and expands the use of fiat payments. The only thing the user needs is an email to create an OpenSea account with a self-custodial wallet. This integration allows users to seamlessly buy, sell, send, and receive digital assets and NFTs, a crucial step for newcomers to the crypto ecosystem.

Finzer also expressed his admiration for Parallel, a leader in the Web 3 gaming sector, highlighting its attractive and ambitious projects. He sees the expansion of utility-backed NFTs as vital to the growth of the industry.

And he said: “If our space is to continue to grow and expand beyond the core community, we need to continue to see more collections come to life with real purpose. »

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Despite the volatility of the NFT market, Finzer remains optimistic about its future. It wants to continue creating new features and opportunities to ensure a secure place at the forefront of the NFT sector.

He confirmed : "As a new application comes to life, we will expand the market to improve the products and reignite the utility behind NFT.".

Finzer's ideas dispel the notion that NFTs are dead. Instead, these digital assets are evolving, with new use cases, improved infrastructure, and innovative features that drive the space forward.