Dan Romero on Warpcast

Dan Romero pfp

Two of the most successful crypto companies of the last two cycles were Coinbase and OpenSea. Both stuck to the original mission / vision through the bear market and became overnight successes because of the multi-year investment in core infrastructure. https://twitter.com/john_c_palmer/status/1661893420028252160

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Ian Place pfp

I don’t know if I’d say opensea was one of the bigger winners from the last cycle. Coinbase was already dominant too, if anything I’d say Moonpay blew up more than most last cycle.

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Dan Romero pfp

OpenSea was $10B+ company last cycle with a real consumer brand

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Ian Place pfp

This dashboard speaks for itself https://dune.com/rchen8/opensea

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Dan Romero pfp

You could say same thing for Coinbase I’m two previous cycles.

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Ian Place pfp

Coinbase didn’t have as large of a drop in usage. But if we look beyond usage/volume Coinbase still had a greater impact (regulatory, providing liquidity, asset listings, etc…) on the space in the previous two cycles than opensea ever will. I’m also bearish on NFT marketplaces in general fwiw

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Dan Romero pfp

You know I worked there, right? :) We had a 90%+ correction in 2018

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Ian Place pfp

I certainly do lol. But opensea wasn’t even a blip on the radar in the 2018 cycle and was only relevant until the 2021 cycle. Whereas Coinbase has been the leading US exchange since at least ~2015. My point here is that opensea doesn’t compare to Coinbase in terms of material impact on the space in either cycle.

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rish pfp

wait you worked there??

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Ian Place pfp

And I still don’t think opensea is one of the big winners from the last cycle. Again I think Moonpay was, particularly how they on-ramped major pop culture figures to crypto and PFP culture. It’s a great product with long term viability that bridges the web2<>3 gap in terms of payments and accessibility.

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