ASAN - OpenSea Faces Sudden Disruption From LooksRare Airdrop -- What You Need to Know
Launching a new product used to take months or years, and one of the biggest challenges was attracting new users to try -- and then pay for -- the product. Hot growth SaaS stocks companies like Asana (NYSE: ASAN) , Sea Ltd (NYSE: SE) , and Cloudflare (NYSE: NET) are all burning tens, if not hundreds, of millions of dollars to grow. Some of that money is spent on R&D and product development, but a lot goes into sales and marketing to attract customers.
Cryptocurrency may make the idea of spending on sales and marketing a thing of the past for new companies. On the public blockchain, anyone can find any wallet they want and interact with it directly. Want to offer wealthy people a trial of your product? Just look up addresses with large transactions on the blockchain. Want to disrupt an incumbent? Simply look up their biggest and best customers and offer them your own token for moving their business over to you. It's a simple strategy, and it may just be disrupting OpenSea's once-apparent stranglehold on the multi-billion dollar NFT market on the Ethereum (CRYPTO: ETH) blockchain.
Image source: Getty Images.
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OpenSea Faces Sudden Disruption From LooksRare Airdrop -- What You Need to Know