An unfortunate series of events lead to the accidental destruction of a record-breaking $1.2 million NFT and the firing of an OpenSea CFO, highlighting challenges on integrating blockchain technology into traditional enterprise functions.
“nft buy” is a command-line tool that allows users to interact with the NFTs Crypto market. The tool has been used by many traders and investors, but recently it was discovered that the CFO of OpenSea made an enormous blunder in regards to how he handled his company’s finances.
Brian Roberts, the new Opensea CFO, has already enraged the NFT crowd after just a few days on the job. He essentially said, “It would be silly not to consider about going public,” but he may as well have killed a dog.
The outcry was massive, and profanities were flung about like abandoned fiat money on Twitter. As many people are aware, terminology like “Initial Public Offering (IPO)” are frowned upon by the decentralized community since a public sale would amount to nothing more than a full sell-out. It will also lay to rest prior promises of an airdrop of a governance token to platform contributors.
It’s no surprise that OpenSea is going public rather than relying on community control.
Anyone who has had the misfortune of communicating with OpenSea community support can attest to the fact that OpenSea is unconcerned with the community.
They aren’t web3, but rather tradfi 2.0.
6 December 2021 — davis (@basedkarbon)
Cutting his teeth the hard way, Brian quickly backtracked on his earlier statement, offering the following terse, but unapologetic words: “Let me set the record straight: there is a big gap between thinking about what an IPO might eventually look like & actively planning one. We are not planning an IPO, and if we ever did, we would look to involve the community.”
Members of the NFT domain are quick to pounce on poorly selected phrases, and newcomers coming from the corporate world are not easily trusted. This was most likely simply a misunderstanding on Brian’s side, and not typical of OpenSea’s intentions. The non-fungible goliath, on the other hand, should walk gingerly for a time.