we go boomboom

we’re being very deliberate with os mobile because we want to make absolutely certain that the first release would truly delight users we’ve built something incredibly special for anyone who cares about non-custodial crypto and true digital ownership big thank you to all our early testers 🌊

We gave beta testers early access to OS Mobile. Here's what they've been saying. Want in? (link in next tweet) 👇

what a delightful, well-timed photoshoot in all seriousness: - i’ve lost count of how many times i’ve heard “opensea is done.” we’re still here. - if you start a business you can and should make money from it. but if you actually know our team, you know that our focus has always, from the start, been building products that people love. that will continue to be the case - my wife got into bitcoin in 2011 (years before nfts were a thing), has always paid for everything herself and started multiple non-profits while advising me. she’s never used the term “product mommy”, but she’s the most brilliant person i know and has built me into the person i am today. marry someone who builds with you, learns alongside you, and who is deeply dedicated to your growth no matter the ups and downs - our industry is still small and misunderstood. for crypto to scale it's eventually going to feel invisible and permeate all of culture. that's a big part of opensea's vision. we saw an opportunity (not without risk) to share it with VF but what that article became wildly misrepresented our industry and our own story. that's a bummer, but we'll have more shots at this - it's not the critic who counts. to create anything of significance in the world takes time, pain, mistakes, courage, the willingness to be both deeply misunderstood and disliked, and glass-chewing. luckily the glass-chewing make you stronger. onwards

I have no intention of getting any refunds. I think the TGE will cook. If it doesn’t, feel free to clown me that day. 🤣 I’m confident a lot of people will regret not participating.

I'm eligible to receive a total Opensea fee refund of $0.00 USD. So I made the tough decision not to opt in for the refund and instead keep my wave 3–6 treasure chests for the airdrop

alright, let's address a few items that keep popping up on the timeline. every single dollar that opensea received in platform fees over the last 5 months was used for one of two purposes: 1. to purchase prizes which were distributed via treasure chests 2. to offer optional refunds via our claim site imagine all of the platform fees in a single account. we spent some of the funds on prizes. and then had to figure out the right way to distribute what was remaining across hundreds of thousands of wallets. on the refund page we shared a ledger of: 1. how much each user spent on platform fees (i.e. how much they contributed to the "account" above) 2. what we paid for each prize they'd already received in their treasure chests if there was a gap, that became the optional refund amount. which we determined was the fairest way to redistribute 100% of the remaining funds. let's talk for a second about those two numbers above. when calculating how much each user spent on fees, we did it based on the USD value of those fees at the time of transaction. so for example, if you paid 0.01 ETH of platform fees on Nov 1st, we took the USD value of ETH that day, which was $3,800, and attributed $38 vs. the value of that same ETH today at $21. this was opensea essentially going back in time and irrefutably doing right by users. when showing the ledger of prizes, many are incorrectly viewing this as "what they're worth" compared to how much opensea "paid" out of our fees account for those prizes. i get it guys, not every NFT is worth today what it was when you received it. and i know sometimes you had to pay royalties to sell them. but the reason we shared this information was to help you understand how we calculated the refund amounts and redistributed the remaining fees from the account. this was very simply, transparency. to those who didn't have a refund to claim, it meant that you were one of the lucky ones. the amount opensea paid for the prizes you received was more than you had actually spent in platform fees. so you got to essentially trade for free for 5 months and still keep the Treasures you earned. the fact i see people complaining about this particular outcome is puzzling to say the least. on the point of not providing more details on TGE - that's essentially why the refunds are being offered. the Foundation will share more when they're ready. but you should not expect more information in the immediate term. opensea was not required to provide these refunds. we did so because we thought it was the right thing to do. if you're truly upset about the way they were calculated, or frustrated that more information on TGE isn't being offered right now, in my opinion, you should personally consider taking the refund. i for one am extremely excited about what we're creating and our future. opensea is building incredible things that will change the way the world interacts onchain. and we're not going anywhere.

Opensea Optional Fee Refund $4k What to choose, what do you think? $SEA or $USDC?