ABAB Pedia

Devin Finzer

Devin Finzer is the co-founder and chief executive of OpenSea, a marketplace for NFTs and other crypto assets.

Contents12 sections
Key facts

Early Years: Brown University and Early Ventures

Co-founding OpenSea

Series A Funding

In his March 18 announcement Finzer wrote that OpenSea aimed to “build an ocean, not an aquarium,” meaning that any NFT project could plug into the marketplace, and stressed that the NFTs traded on it are owned by users.⁠[2]

Conversation on a16z

The conversation was recorded at the a16z NFT Summit, co-hosted by Andreessen Horowitz and the Stanford Center for Blockchain Research.⁠[4]

Series B Funding

On July 20, 2021, Finzer announced that OpenSea had raised a $100 million Series B led by a16z, with participation from CoatueCoatueCoatue is a technology- and innovation-focused investment management firm founded by Philippe Laffont in 1999, operating in both public and private markets. Its current website lists Thomas Laffont as co-founder and chief investment officer of private investments; a Form ADV filed on July 29, 2026, disclosed regulatory assets under management of $92,705,722,582.Open the full entry, Michael OvitzMichael OvitzMichael Ovitz is an American Hollywood agent and businessman, a co-founder of the talent agency Creative Artists Agency (CAA), which he chaired from 1975 to 1995, and was once regarded as one of the most powerful figures in Hollywood. He briefly served as President of The Walt Disney Company from 1995 to 1996, and his severance gave rise to shareholder litigation lasting nearly a decade; he later headed Artists Management Group and turned to technology investing and advisory work.Open the full entry, Kevin Hartz, Dylan Field, Kevin DurantKevin DurantKevin Durant is an NBA forward who entered the league in 2007 and has played for the Seattle SuperSonics/Oklahoma City Thunder, the Golden State Warriors, the Brooklyn Nets, the Phoenix Suns and the Houston Rockets. He was the 2014 league MVP, has won two NBA championships and two Finals MVP awards as well as four Olympic gold medals, and co-founded Thirty Five Ventures and Boardroom with Rich Kleiman.Open the full entry, Ashton Kutcher and Tobi LutkeTobias LütkeTobias Lütke, who also goes by Tobi Lütke, is a programmer, the co-founder and chief executive officer of Shopify, and a startup investor. He took part in the Ruby on Rails open-source community, has served as Shopify’s CEO since April 2008, and joined the board of Coinbase in 2022.Open the full entry. “NFTs are emerging as one of the first consumer-oriented killer applications for blockchains,” he wrote.⁠[5]

Series C Funding

On January 4, 2022, Finzer announced that OpenSea had raised $300 million in Series C funding led by Paradigm and Coatue at a $13.3 billion post-money valuation.⁠[6]

Layoffs and OpenSea 2.0

On November 3, 2023, Finzer announced on X that the company was reorganizing around “OpenSea 2.0” and shifting to “a smaller team with a direct connection to users”; a company representative said about 50% of employees were affected. Finzer wrote that “at times, OpenSea feels like a follower, not a leader.”⁠[7]

SEC Wells Notice

On August 28, 2024, Finzer disclosed that OpenSea had received a Wells notice from the U.S. Securities and Exchange Commission, signaling that the agency was considering a lawsuit against the company. He said OpenSea believed it operated legally and that users buying and selling NFTs on it were not trading securities, wrote that “Classifying NFTs as securities would not only misinterpret the law,” and announced that “OpenSea is pledging $5M to cover legal fees for NFT artists and developers that receive a Wells notice.”⁠[8]

OS2 and the End of the SEC Investigation

On February 13, 2025, OpenSea introduced OS2, a platform combining NFT and token trading, and the OpenSea Foundation announced the upcoming launch of the SEA token.⁠[9]

On February 21, 2025, the SEC informed OpenSea that it was dropping its case, without having alleged fraud. Finzer said, “This outcome allows creators to continue shaping the future of digital ownership and innovation.”⁠[10]

Delay of the SEA Token

On March 16, 2026, Finzer announced on X that the OpenSea Foundation was postponing the SEA token, which had been planned for a March 30 event, without giving a new date. Acknowledging that “A delay is a delay,” he cited difficult crypto market conditions and said, “SEA only launches once.”⁠[11]

Related Organizations, Websites, and Public Accounts

OpenSea: Official website: https://opensea.io/ (opens in a new window).⁠[3]

Sources

  1. Investing in OpenSea (opens in a new window)
  2. OpenSea raises $23M to scale the largest marketplace for NFTs (opens in a new window)
  3. About OpenSea (opens in a new window)
  4. NFT Uses for Today (and Tomorrow) (opens in a new window)
  5. Announcing our $100M raise, led by a16z (opens in a new window)
  6. Announcing OpenSea’s new funding (opens in a new window)
  7. OpenSea Slashes NFT Marketplace Staff by 50% (opens in a new window)
  8. Taking a stand for a better internet (opens in a new window)
  9. Introducing OS2 (opens in a new window)
  10. SEC closes investigation into OpenSea, furthering new stance on crypto industry (opens in a new window)
  11. OpenSea delays SEA token launch, offers no new date (opens in a new window)