OpenSea Co-founder Resigns To Focus On New Projects

Alex Atallah, one of the co-founders of the world’s leading NFT marketplace OpenSea, will step down in August to focus on new projects.

In a post on his personal page, Alex Atallah wrote that he is comfortable with OpenSea’s progress and believes the platform is enjoying great success at the moment. Therefore, he decided to give up again to continue his passion for building something from zero.

However, Alex Atallah will continue to remain on the Board of Directors. He will take a month off to take time for himself before returning to cryptocurrencies and developing newer projects.

“OpenSea will always be a part of me. I couldn’t possibly stop thinking about the exciting problems we solve every day, even if I tried. Devin has done an incredible job stewarding OpenSea to heights we never predicted.”

Atallah co-founded OpenSea with CEO Devin Finzer in 2018, having raised $2 million in a company seed round announced in May 2018. At that time, the NFT marketplace only reached a volume of $500,000 in transactions and only 100 collections were listed on the platform. Four years on, it now has two million NFT collections and more than 80 million NFT works.

Not only that but OpenSea is also valued at up to $13.3 billion after a Series C funding round of $300 million in January 2022. According to Forbes, both Atallah and Finzer have a net worth of $2.2 billion each. Before deciding to leave the company, Atallah transferred functions in his role to various members of the company’s senior executives.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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