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OpenSea wants to go public despite crypto community outcry

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Crypto Slate

Tue, Dec 07, 2021

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OpenSea could be the next crypto-related company to go public after its new CFO, Brian Roberts, revealed in a recent interview that the firm was looking to raise funds through an Initial Public Offering (IPO).

During the interview , Roberts, the former Lyft CFO, revealed that going public was an option for a firm growing at the pace of OpenSea .

I’ve seen a lot of P&Ls (profit and loss statements) but I’ve never seen a P&L like this.” Continuing on why OpenSea would consider going public, Roberts was of the opinion that the company does not literally need “to raise more cash,” instead, the leading NFT site would be using the new funding to “acquire companies, strike partnerships, and create joint ventures to further expand the use of NFTs into new industries.” With this new revelation from OpenSea, the crypto community’s earlier speculation that the NFT marketplace could be launching its own native token or towing the path of Ethereum Name Service ( ENS ) in efforts to decentralize the company appears to be invalidated.

Members of the crypto community have reacted negatively to news of OpenSea going public as many of them see it as a sign of betrayal from the crypto company.

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