Finzer’s new focus for OpenSea employs an age-old trader axiom, “Don’t fight the tape.” As the soaring price of bitcoin makes headlines, crypto goes mainstream and prediction markets gain in popularity, “risk on” is the new mantra for investors. One only needs to look at Robinhood’s 400% one-year stock return and exploding volume at prediction markets like Kalshi and Polymarket as evidence. Even though slumping market values for NFTs like the Bored Ape Yacht Club, whose average floor price has fallen from around $400,000 at its peak to $32,000 today, have burned many investors, a new crop of speculators remains undeterred. For the past two years, memecoins have been the industry’s biggest obsession. “You can’t fight the macro trend,” Finzer says, so you might as well embrace it.
Finzer thinks letting people trade any and all cryptocurrencies is the “right one for crypto right now” due to high demand. In this respect, he has taken a lesson from his biggest rival Blur, a company that burst onto the NFT scene three years ago with a trader-centric approach that helped it gobble up most of the NFT trading market.
