Public Key Podcast

Reshaping the NFT Ecosystem in the Wake of the 2022 NFT Market Crash and Crypto Storm: Podcast Ep. 52

Episode 52 of the Public Key podcast is here! Are NFTs Dead? It’s the question many have been asking after the crypto and NFT market crash in 2022. We speak with NFT expert Shiva Rajaraman, Chief Business Officer of OpenSea, to discuss the future of non-fungible tokens (NFTs) and their evolving use cases. 

You can listen or subscribe now on Spotify, Apple, or Audible. Keep reading for a full preview of episode 52.

Public Key Episode 52 preview: NFTs are far from dead and are just getting started

After the boom of NFTs and cryptocurrency in 2021, many are left wondering if this recent crypto winter might mean the death of NFTs and the metaverse as a whole.

In this episode, Ian Andrews is joined by Silicon Valley Alumni Shiva Rajaraman, Chief Business Officer at OpenSea, the world’s first and largest web3 marketplace for NFTs and crypto collectibles. 

Shiva describes how the company plans to not only onboard the next million NFT users but also make the process and experience positive and memorable. He shares his thoughts on consumer protection in the NFT space and provides insights into the ongoing conversation about creator royalties. 

He provides details about OpenSea’s solutions for active users and the biggest traditional brands looking to enter web3 and what the future holds for NFT collections and the OpenSea marketplace. 

Quote of the episode

“One of the first things that Web Three and NFTs represent just to start with is like, I own this thing, and it’s very clear that I own it. And that can be uniquely owned by me. The second thing is it’s portable across many different environments. And those two things become pretty magical. There’s no lock-in; it’s completely visible. That means people can create experiences for this object you own without having a BD [Business Development] discussion with anyone else, right? – Shiva Rajaraman (Chief Business Officer, OpenSea)

Minute-by-minute episode breakdown

  • (2:15) – A look at the past, present, and future of NFTs and utility  
  • (4:25) – Shiva’s journey to OpenSea after working at major tech giants in Silicon Valley 
  • (6:15) – The acquisition of and the future of OpenSea 
  • (9:50) – Focusing on consumer protection and security vulnerabilities in the NFT markets 
  • (14:05) – Who are active NFT buyers/traders, and how does OpenSea provide solutions for that niche audience?
  • (16:05) – The controversy around NFT royalties and OpenSea’s stance on various royalty models
  • (18:15) – How does OpenSea assist the biggest brands in the world to enter into web3
  • (21:40) – With Meta (formerly Facebook) pulling back on the metaverse, are we still bullish on NFTs and metaverse use cases?

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