In September 2021, OpenSea admitted that an employee engaged in insider trading. In 2017, Devin Finzer and Alex Atallah, Inspired by the release of CryptoKitties, founded OpenSea. The daily trading volume on the OpenSea marketplace reached a record $2.7 billion on May 1, 2022, but four months later had dropped by 99%. By January 2022, the company had been valued at $13.3 billion and was described as the largest non-fungible token marketplace. In 2021, following a heightened interest in non-fungible tokens, the company's revenue reached $95 million in February and $2.75 billion in September of that year. OpenSea offers a marketplace online allowing for non-fungible tokens to be sold directly at a fixed price, or through an auction. The company was founded by Devin Finzer and Alex Atallah in 2017. OpenSea is an American non-fungible token (NFT) marketplace headquartered in New York City.
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