Mobile Prices / Blog / Cryptocurrency / Leading NFT Marketplace Opensea Raises $300 Million, Firm's Post-Money Valuation Taps $13.3 Billion

Leading NFT Marketplace Opensea Raises $300 Million, Firm's Post-Money Valuation Taps $13.3 Billion

Cryptocurrency

By Yes Mobile

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Leading NFT Marketplace Opensea Raises $300 Million, Firm's Post-Money Valuation Taps $13.3 Billion

Leading NFT Marketplace Opensea Raises $300 Million, Firm's Post-Money Valuation Taps $13.3 Billion

Main non-fungible token (NFT) market Opensea introduced the agency has raised $300 million in a Sequence C funding spherical led by Paradigm and Coatue. Opensea’s newest capital elevate has propelled the corporate to a $13.Three billion post-money valuation.

Opensea Raises $300 Million, Instructions Put up-Cash Valuation of $13.Three Billion

In mid-November, a report authored by theinformation.com’s Kate Clark and Berber Jin defined that Opensea was fielding new investments after traders had been allegedly chomping on the bit to fund the undertaking. On the time, Opensea’s estimated valuation was $10 billion and two sources stated: “traders are clamoring for a bit of the startup.”

48 days later, Opensea has revealed it raised $300 million in a Sequence C finance spherical. The group says that the brand new funding will go towards “accelerating product improvement,” “considerably enhance buyer assist,” “investing in the broader NFT and Web3 neighborhood,” and increasing the Opensea group. The funding spherical was led by Paradigm and Coatue, and a variety of different strategic traders joined.

Opensea All-Time NFT Gross sales Close to $15 Billion, Eclipsing Opponents, Agency Plans to Launch Grant Program

Based on Opensea, the brand new funding provides the corporate a $13.Three billion post-money valuation. Opensea can also be the most important NFT market, in phrases of all-time gross sales, as the corporate has recorded $14.68 billion in gross sales throughout 1,387,357 merchants worldwide. Gross sales are up greater than 25% over the past 30 days with a recorded $2.91 billion in quantity. The $14.68 billion in gross sales is quite a bit bigger than some other NFT undertaking or market.

For instance, the second-largest market, Axie Infinity, has $3.94 billion in all-time gross sales which is 73.16% decrease than Opensea’s gross sales. Devin Finzer, co-founder and CEO of Opensea, defined in the funding announcement that the group is making a grant program to assist broaden the “total NFT ecosystem.” At press time, the Opensea platform helps NFTs based mostly on the Ethereum (ETH) and Polygon (MATIC) networks.

“This quarter, we’re launching a grant program to offer us the chance to immediately assist the builders, builders, and creators shaping the way forward for the NFT area,” Finzer stated in a press release. “Our ambition is to foster the dimensions and progress of the broader NFT ecosystem together with elevating the profile of rising creators and investing in the individuals who form the NFT area for the higher immediately.”

What do you consider Opensea elevating $300 million and the agency’s $13.Three billion post-money valuation? Tell us what you consider this topic in the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising immediately.

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