Are NFTs dead? OpenSea CEO predicts next wave of million users

‍OpenSea co-founder and CEO Devin Finzer discusses the current state of NFTs and the future of digital markets in an exclusive interview with BeInCrypto.

Amid speculation about the decline of NFTs, Finzer provided a clear vision for continued growth and innovation.

He pointed out that NFT is not dead.

In fact, games and physically backed NFTs are areas of growing interest among market participants. To this end, OpenSea has partnered with Courtyard on projects involving Pokémon cards, as well as working with leading game developers such as Parallel and Revolving Games.

Finzer told BeInCrypto: "We are seeing new use cases emerging on OpenSea. Ensuring OpenSea is a home for all types of NFTs will be critical to joining the next wave of NFTs."

OpenSea has also revamped its Collections page, giving creators a richer, customizable page to tell the story of their projects. This adaptability applies to all types of NFTs, whether profile pictures, games, or physical items.

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

Currently, OpenSea’s main focus is to improve users’ gaming experience. The company enhanced the core user experience with the launch of immersive gameplay trailer videos and new redemption standards. These features are designed to deepen OpenSea’s verticalization in specific NFT areas.

In Finzer’s view, games are a good example. It is very important to highlight gameplay through videos. The huge game industry is expected to promote the application of NFT. As more and more gamers become first-time NFT owners, a frictionless onboarding experience becomes critical.

Finzer pointed out that it is very important for gamers to experience the game before purchasing NFT passes, which require richer commodities.

He also highlighted the potential for interoperability, whereby items or status earned in one game can unlock experiences in another through open digital ecosystem standards.

The recent rise in the Crypto market has sparked innovation, with infrastructure improvements making NFT trading more attractive and cost-effective.

Finzer believes that these developments will be crucial for the next wave of users to join. He mentioned: “We believe that these investments are an important foundation for attracting the next wave of millions of users.”

For example, OpenSea’s new “cold start” on-board experience simplifies the wallet creation process and expands the legal currency Payment scope. All users need is an email to create an OpenSea account with a self-hosted wallet.

This integration allows users to seamlessly buy, sell, send and receive digital assets and NFTs, which is a crucial step for users new to the Crypto ecosystem.

Finzer also expressed his admiration for Parallel, a leader in Web3 gaming, arguing that the expansion of utility-backed NFTs is critical to industry development.

He said: "If our field is to continue to grow and expand beyond the core community, we need to continue to see more NFT collections with real-world utility emerge."

Despite the turmoil in the NFT market, Finzer remains optimistic about its future. He hopes to continue to develop new features and create new opportunities to ensure the company's leading position in the NFT field.

He affirmed: “As new features emerge, we will continue to develop the market to better promote NFTs and implement the features behind them.”

Finzer’s insights The solution dispels the notion that “NFT is dead”. Instead, these digital assets are constantly evolving, with new use cases, improved infrastructure, and innovative features driving the space.

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