Devin Finzer: OpenSea tracks transaction count over GMV to evaluate marketplace health
Devin Finzer · 20VC: Opensea Founder, Devin Finzer on Scaling GMV from $150M to $3BN in 18 Months, How Brands and Celebrities Will Harness NFTs To Change Their Business, The Impact of NFTs on Gaming & What is in Devin's Metamask Wallet?! · Jan 14, 2022 · at 13:04
Devin Finzer, co-founder and CEO of OpenSea, discusses how the NFT marketplace measures underlying platform health and user activity beyond top-line gross merchandise value.
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“We definitely, you know, don't look just at GMB, right? We look at Number of transactions, right? So number of sales as a more healthy metric, because that's an indicator of, are people able to sell the stuff that they want to sell in the marketplace? And then also, is the NFT space sort of providing value to users in an interesting way, right? So a game economy, for example, can have items that sell for like, 50 cents each, all the way up to hundreds or thousands of dollars, and each one of those transactions could be really valuable to a user. So we don't just look at GMB as such a skewed metric, because if Things are selling for really high prices and yeah, you can have really huge GMV growth, but we tend to sort of be more grounded in like number of transactions, which again is also going to be influenced by the growth of the market. And then also just how many people are coming to the website with a wallet connected.”
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