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NFT marketplace OpenSea is worth over $13bn

Published Jan 10, 2022

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OpenSea, the biggest online marketplace for non-fungible tokens (EFTs) has been valued at more than $13bn.

The platform claimed that trades on the platform rose 600-fold last year.

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Company co-founder Devin Finzer wrote on OpenSea's official blog: "In 2021, we saw the world awaken to the idea that NFTs represent the basic building blocks for brand new peer-to-peer economies. They give users greater freedom and ownership over digital goods, and allow developers to build powerful, interoperable applications that provide real economic value and utility of users. OpenSea’s vision is to become the core destination for these new open digital economies to thrive, building the world’s friendliest and most trusted NFT marketplace with the best selection."

The company founder said that OpenSea has spent the last year raising hundreds of millions of dollars in funding. "To accelerate this vision, we have raised $300 million in Series C funding at a $13.3 billion valuation. Paradigm and Coatue led the round with participation from new and existing investors. We are excited to work with these incredible partners, thinkers and builders who collectively bring a depth of experience in Web3, NFTs, and best in class consumer experiences. We have four goals for this funding: 1) accelerate product development, 2) significantly improve customer support and customer safety, 3) meaningfully invest in the wider NFT and Web3 community, and 4) grow our team."

Related Topics:

NFTInvestingFinance

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