Devin Finzer, co-founder and CEO of OpenSea, explains how open blockchain standards enable automatic interoperability across NFT projects during an a16z summit discussion.
“Oftentimes projects will kind of come out of thin air and start trading on OpenSea without us ever having to go and do special integrations with them because it's all kind of built into the blockchain.”
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More from Devin Finzer
Insight
Finzer: NFTs give creators an open, free market from day one
“That's sort of one of the magical things about it is you get an open free market from day one the moment you launch your NFT.”
Devin FinzerMay 26, 2021▶ 1:54NFT Uses for Today (and Tomorrow)
AssertionNot checkable as stated
Finzer: Digital art was not a real market three years ago
“Digital art just really wasn't a market three years ago.”
Devin FinzerMay 26, 2021▶ 5:51NFT Uses for Today (and Tomorrow)
Insight
Finzer: Tokenization gives assets instant liquidity and DeFi compatibility
“With an NFT, the exciting thing about it is the moment you turn something in an NFT, it sort of plugs into all of the existing like crypto infrastructure. So when you make an NFT, what do you kind of get out of the box? One is you get a marketplace, right? You…”
Devin FinzerMay 26, 2021▶ 7:03NFT Uses for Today (and Tomorrow)
Insight
Finzer: Vaulted physical items can trade as NFTs before physical redemption
“One of the interesting things is, and we're starting to see experiments with this is people are holding in, in their own custody physical items, but issuing NFTs for them so that they can be traded around many times before they're actually redeemed for the phy…”
Devin FinzerMay 26, 2021▶ 7:49NFT Uses for Today (and Tomorrow)
Opinion
Finzer: CryptoPunks is the first candidate for a true digital antique
“CryptoPunks, for those of you who aren't familiar, is kind of one of those most famous early NFT projects. I like to call it kind of the first candidate for a true digital antique.”
Devin FinzerMay 26, 2021▶ 10:45NFT Uses for Today (and Tomorrow)
PredictionNot checkable as stated
Devin Finzer: Virtual land will face physical-world zoning and regulatory issues
“But I think to answer your question, a lot of the same problems that we have in the physical world will start to emerge as well.”
Devin FinzerMay 26, 2021▶ 13:05NFT Uses for Today (and Tomorrow)
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