Alex Atallah became the first billionaire to make his money off of non-fungible tokens (or NFTs). He and co-founder Devin Finzer are worth around 2.2 billion with their blockchain startup OpenSea. The company’s name shows just how deep and free this market can be. Atallah graduated from Stanford University and worked as a programmer then at two other startups before deciding to co-found his own back in 2018, when NFTs were a risky, unexplored venture not trusted by common people and businesses alike. But by January of 2021, Finzer and Atallah’s gamble paid off with them officially becoming billionaires. But in July of 2022, Atallah decided to step back from OpenSea to pursue other ventures. His abrupt step away from the company was announced with a simple blog post ‘heard round the world, as he desires to find new ways to be an entrepreneur in society. This truly shows the entrepreneurial spirit in a young mind- constantly wanting to reach new heights. The first known NFT, known as “Quantum”, was created by Kevin McCoy and Anil Dash in May of 2014. Ever since the beginning of the non-fungible token, the economy has boosted due to investment in the new ideas of NFTs and perhaps is the key to avoid future economic calamity.
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This is interesting to me because it was such a risk at the time they started getting into NFTs. Alex and Devin saw an opportunity and then decided to take a risk and try to take advantage of it. I have been on their website before and am intrigued on learning more about NFTs.