OpenSea
Case Studies.OpenSea
Background
OpenSea is the world’s first and largest peer-to-peer marketplace for crypto collectibles and non-fungible tokens (NFTs). OpenSea supports multiple blockchains, with the broadest set of categories for new emerging asset classes, which include digital collectibles, gaming items, and other virtual goods. In June 2021, Andreessen Horowitz / A16z, led the second institutional funding round of 100M, with participation from angel investors Michael Ovitz (CAA co-founder) and actor-investor Ashton Kutcher.
Virgo, having worked in the blockchain space to date with companies like Genies, Choice by Kingdom Trust, and Alethea tasked with running a communication campaign around the funding news and educating the mainstream market on the future of NFT technology. Virgo worked closely with founders Devin Finzer and Alex Atallah on messaging and campaign strategy. The team also worked closely with A16z’s team around the funding announcement.
Key focuses of the campaign were exclusive drops, funding, new hires and new feature launches. Other campaign work included partnership announcements with the likes of Twitter and Adobe.
Results
This campaign led to successful media placements in tier one tech, business and other relevant outlets, which raised awareness of Opensea across all media. This also assisted Opensea in reaching one billion in monthly transactions in 2021. The campaign also pushed OpenSea into a leadership position within the NFT space around educating mainstream audiences within the media.
Key media profiles were secured in the WSJ, Forbes, Fast Company, The Information, FT, Bloomberg, Techcrunch, VentureBeat, Coindesk and more.
The company is now valued at over 1 billion dollars.
Story Links
- Bloomberg – World’s Biggest NFT Marketplace Sees $2B in Transactions This Month
- Fortune – OpenSea raises at a $1.5 billion valuation despite an NFT pullback
- Fast Company – Why Andreessen Horowitz is betting big on NFTs
- Business Insider – NFT auction site OpenSea reaches $1.5 billion valuation after latest funding round raises $100 million
- CoinTelegraph – OpenSea’s daily volume is exceeding its 2020 total
- Benzinga – OpenSea Looks To Expand Team Of 37 As Weekly NFT Sales Exceed $1B On The Platform
- CoinDesk – NFTs Over DeFi: OpenSea Just Overtook Uniswap on Ethereum Usage
- CNBC – How to make, buy and sell NFTs
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