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“ In March 2022, OpenSea saw revenues of $61.33 million; in March 2023, it had revenues of $172.33k. The drop represented a whopping 99.72% fall. The platform's
by drexlspivey 3y ago
“ In March 2022, OpenSea saw revenues of $61.33 million; in March 2023, it had revenues of $172.33k. The drop represented a whopping 99.72% fall. The platform's fees have also fallen from $193.94 million in March 2022 to $1.41 million in March 2023.”
That’s OpenSea, no 11 on the list making $1.4m of monthly revenue and paying SWEs 430k salary
- ldjkfkdsjnv 3y agoTalk about an absolute squandering of capital.
- Schnitz 3y agoThis is total comp so probably an inflated value given that opensea equity is most likely worth zero?
- altdataseller 3y agoThis is why total comp is so flawed, especially if it's a private company. Equity can be a $0. Should have options to see only salaries
- welder 3y agoEquity can even be negative, when considering tax.
- brandall10 3y agoDotcom era was a great time of putting engineers on a multi-year payment plan with the IRS... had a friend end up owing $200k after losing what at the peak was $5M in paper wealth.
- codegeek 3y agoAlso clubhouse. Is it still alive ?
- deminature 3y agoEven if it is, the stock is forever illiquid and that comp beyond base salary is a mirage.
- DeIlliad 3y agoOpenSea still being a thing is insane to me.
- notatoad 3y agoi'm assuming they pay you in NFTs, not cash?
- drexlspivey 3y agoThere won't be enough left for the second guy
- acchow 3y agoFor a marketplace that takes a cut of transaction, why is revenue != fees?