Market
Are NFTs Dead? OpenSea CEO Shares Exclusive Insights

In an exclusive interview with BeInCrypto, Devin Finzer, co-founder and CEO of OpenSea, discussed the state of NFTs and the future of the digital marketplace.
Amid speculations about the decline of NFTs, Finzer provided a clear vision of continued growth and innovation.
The Rise of Gaming and Physically Backed NFTs
Finzer highlighted that NFTs are not dead. In fact, gaming and physically backed NFTs are areas of growing interest among market participants.
For this reason, OpenSea has partnered with Courtyard on projects involving Pokémon cards and with leading game developers like Parallel and Revolving Games.
“We see emerging use cases popping up on OpenSea all the time. Ensuring OpenSea is a home to all types of NFTs is crucially important to onboard the next wave of collectors,” Finzer told BeInCrypto.
OpenSea has also revamped its collection pages, offering creators richer, customizable pages to tell their project’s story. This adaptability extends across various types of NFTs, whether profile pictures, games, or physical items.
According to Finzer, the platform is committed to evolving with new utility trends, ensuring the marketplace remains one of the best places to buy, sell, and collect NFTs.
Read more: 7 Best NFT Marketplaces You Should Know in 2024

For now, OpenSea’s significant focus is enhancing the user experience in gaming. The company has introduced immersive game trailer videos and a new standard for redeemables, which enhance the core user experience. These features aim to deepen OpenSea’s verticalization for specific NFT areas.
“A good example of this is gaming where it’s important to have gameplay highlighted through video,” said Finzer.
The massive gaming industry is expected to drive the adoption of NFTs. As more gamers become first-time NFT owners, a frictionless onboarding experience becomes essential.
Finzer noted the importance of gamers experiencing the game before purchasing an NFT pass, which requires richer merchandising. He also highlighted the potential of interoperability, where items or statuses earned in one game could unlock experiences in another, facilitated by open digital ecosystem standards.
The Journey to One Million More NFT Users
The crypto market’s recent uptick has sparked innovation, with infrastructure improvements making NFT transactions more engaging and cost-effective. Finzer believes these developments are essential for onboarding the next wave of users.
“We believe these investments are an important foundation for onboarding the next million users,” he said.
For instance, OpenSea’s new cold start onboarding experience simplifies wallet creation and broadens the use of fiat payments. The only thing a user needs is an email to create an OpenSea account with a self-custodial wallet. This integration allows users to buy, sell, send, and receive digital assets and NFTs seamlessly, a crucial step for new entrants to the crypto ecosystem.
Finzer also expressed his admiration for Parallel, a leader in the Web3 gaming sector, highlighting their engaging and ambitious projects. He sees the expansion of utility-backed NFTs as vital for the industry’s growth.
“If our space is going to continue to grow and expand beyond the core community, we need to continue to see more collections coming to life with real-world utility,” he stated.
Read more: How To Create an NFT for Free Using Picsart
Despite the volatility of the NFT market, Finzer remains optimistic about its future. He wants to continue building out new features and opportunities to ensure a safe place at the forefront of the NFT sector.
“As new utility comes to life, we’ll evolve the marketplace to better merchandise and bring to life the utility behind an NFT,” he affirmed.
Finzer’s insights dispel the notion that NFTs are dead. Instead, these digital assets are evolving, with new use cases, improved infrastructure, and innovative features driving the space forward.
Disclaimer
Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Dark Web Criminals Are Selling Binance and Gemini User Data

More than 100,000 users of popular crypto exchanges Binance and Gemini may be at risk after a trove of sensitive information appeared for sale on the dark web.
The leaked data reportedly includes full names, email addresses, phone numbers, and location details—raising alarms over growing cyber threats in the crypto sector.
Dark Web Actors Are Targeting Crypto Users
On March 27, a dark web user operating under the alias AKM69 listed a large database allegedly tied to Gemini, one of the largest crypto trading platforms in the US.
According to Dark Web Informer, the dataset mainly includes information about users from the United States, with a few entries from Singapore and the United Kingdom. The attacker claims the data could be used for marketing, fraud, or crypto recovery scams.
“The database for sale reportedly includes 100,000 records, each containing full names, emails, phone numbers, and location data of individuals from the United States and a few entries from Singapore and the UK,” the report stated.
It is unclear whether the leak resulted from a direct breach of Gemini’s systems or from other vulnerabilities, such as compromised user accounts or phishing campaigns.
Meanwhile, this incident followed another alarming listing on March 26.
According to the report, a separate dark web actor, kiki88888, allegedly offered a trove of Binance user data for sale. The database is said to hold over 132,000 entries, including the exchange users’ login information.

The Dark Web Informer suggests phishing attacks likely caused the breach rather than a compromise of the exchange’s systems.
“Some of you really need to stop clicking random stuff,” the Informer stated.
Binance and Gemini have yet to publicly comment on these incidents. However, phishing remains one of the most effective methods cybercriminals use to exploit crypto holders.
Scammers often impersonate official accounts or place misleading ads that redirect users to fake websites. Coinbase users are also being extensively targeted through phishing campaigns.
As BeInCrypto reported earlier, in March, Coinbase users lost over $46 million to social engineering scams.
Blockchain security firm Scam Sniffer revealed that phishing-related losses exceeded $15 million in the first two months of the year. This figure highlights the growing scale of the threat.
Given the rising threats, crypto users should stay vigilant and avoid unfamiliar links. They should also protect their accounts with two-factor authentication and hardware wallets whenever possible.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
South Carolina Could Spend 10% of Funds on Bitcoin Reserve

Representative Jordan Pace introduced legislation to create a Bitcoin Reserve for South Carolina, joining a nationwide effort. Currently, nearly half of all US states have an active bill to create a similar Reserve.
However, the talking point that this bill “allows 10% of state funds” in Bitcoin investments is taking off like wildfire. It may scare off fiscal conservatives, which contributed to recent failures.
South Carolina Joins the Bitcoin Reserve Race
Since President Trump announced his intention to create a US Bitcoin Reserve, many state governments have attempted to create smaller models.
In the last month, these efforts have been intensifying, with more and more states joining the effort. Today, South Carolina filed its own Bitcoin Reserve bill, allowing the state to make substantial purchases:
“The State Treasurer may invest in digital assets including, but not limited to, Bitcoin with money that is unexpended, unencumbered, or uncommitted. The amount of money that the State Treasurer may invest in digital assets from a fund specified in this section may not exceed ten precent of the total funds under management,” it reads.
State Representative Jordan Pace proposed South Carolina’s Bitcoin Reserve legislation. He claimed that this bill “gives the Treasurer new tools to protect taxpayer dollars from inflation,” one of crypto’s most well-known use cases. Pace is currently the bill’s only sponsor, and it’s unclear what chances it has of passing.
Still, there may be challenges ahead. Similar proposals in other Republican-led states—like Montana and Wyoming—have already failed. This was largely due to concerns over using public funds to buy cryptocurrency.
Even though Trump backs the idea on a national level, not all GOP lawmakers are convinced at the state level.
That said, there are some signs of progress elsewhere. For example, Texas has advanced its Bitcoin Reserve bill, achieving bipartisan support. A key reason for its success is that the bill doesn’t require the state to make crypto purchases; it simply allows them at the Treasurer’s discretion.
Likewise, South Carolina’s bill wouldn’t force the state to invest 10% of its funds into Bitcoin. It just opens the door for that possibility, giving the state financial flexibility rather than a mandate.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
FDIC and CFTC Rescind Old Crypto Guidelines

The FDIC and CFTC have both been working to change previous crypto guidelines. As federal regulators reconcile with the industry, they are removing old rules that specifically target crypto.
The former institution is removing the requirement that banks report crypto business, while the latter holds crypto to the same standards as other industries.
FDIC and CFTC Change Crypto Policies
The FDIC is one of the top financial regulators in the US, and it’s turning over a new leaf. After being one of the principal architects of Operation Choke Point 2.0, it recently began declassifying documents and changing rules that allowed crypto debanking.
Today, the agency is revoking a 2022 directive that impacted banks’ interactions with crypto:
“With today’s action, the FDIC is turning the page on the flawed approach of the past three years. I expect this to be one of several steps the FDIC will take to lay out a new approach for how banks can engage in crypto- and blockchain-related activities in accordance with safety and soundness standards,” said FDIC Acting Chairman Travis Hill.
Specifically, it rescinded a rule that mandated that all banks and institutions under its supervision notify the FDIC of any crypto involvement. The new guideline claims that banks “may engage in permissible crypto-related activities without receiving prior FDIC approval” without enacting any other policies.
Since Gary Gensler left the SEC, all the top US financial regulators have been trying to rework their relationship with crypto. In an apparent coincidence, the CFTC made a very similar move to the FDIC by rescinding two crypto guidelines.
Both of these actions did not establish a new policy; they merely removed the old ones.
Essentially, both of the CFTC’s rule changes are set to ensure that crypto-related derivatives are subject to the same requirements as non-crypto ones. This is somewhat surprising, considering that the industry has typically tried to insist that it necessitates specific regulations.
However, this is largely beside the point. The FDIC and CFTC are both working to remove previous guidelines that opposed the crypto industry.
These institutions will undoubtedly be amenable to creating new ones in the spirit of cooperation. In the meantime, this olive branch can help build a lot of goodwill.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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