Fun

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

News Feed - 2022-01-05 11:01:10

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


Leading non-fungible token (NFT) marketplace Opensea announced the firm has raised $300 million in a Series C funding round led by Paradigm and Coatue. Opensea’s latest capital raise has propelled the company to a $13.3 billion post-money valuation. Opensea Raises $300 Million, Commands Post-Money Valuation of $13.3 Billion


In mid-November, a report authored by theinformation.com’s Kate Clark and Berber Jin explained that Opensea was fielding new investments after investors were allegedly chomping at the bit to fund the project. At the time, Opensea’s estimated valuation was $10 billion and two sources said: “investors are clamoring for a piece of the startup.”


48 days later, Opensea has revealed it raised $300 million in a Series C finance round. The team says that the new funding will go toward “accelerating product development,” “significantly improve customer support,” “investing in the wider NFT and Web3 community,” and expanding the Opensea team. The funding round was led by Paradigm and Coatue, and a number of other strategic investors joined. Opensea All-Time NFT Sales Near $15 Billion, Eclipsing Competitors, Firm Plans to Launch Grant Program


According to Opensea, the new funding gives the company a $13.3 billion post-money valuation. Opensea is also the largest NFT marketplace, in terms of all-time sales, as the company has recorded $14.68 billion in sales across 1,387,357 traders worldwide. Sales are up more than 25% during the last 30 days with a recorded $2.91 billion in volume. The $14.68 billion in sales is a lot larger than any other NFT project or market.


For example, the second-largest market, Axie Infinity, has $3.94 billion in all-time sales which is 73.16% lower than Opensea’s sales. Devin Finzer, co-founder and CEO of Opensea, explained in the funding announcement that the team is creating a grant program to help expand the “entire NFT ecosystem.” At press time, the Opensea platform supports NFTs based on the Ethereum (ETH) and Polygon (MATIC) networks.


“This quarter, we are launching a grant program to give us the opportunity to directly support the developers, builders, and creators shaping the future of the NFT space,” Finzer said in a statement. “Our ambition is to foster the scale and growth of the broader NFT ecosystem including raising the profile of emerging creators and investing in the people who shape the NFT space for the better today.” Tags in this story $13.3 Billion, $300 Million, android, Ashton Kutcher, Coatue, Ethereum, Ethereum (ETH), Finance, iOS app, Markets, nft, NFT Market, NFT marketplace, NFTs, Opensea, Opensea Valuation, Opensea.io, Paradigm, Polygon, Polygon (MATIC), Series C


What do you think about Opensea raising $300 million and the firm’s $13.3 billion post-money valuation? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Sberbank Launches First Blockchain ETF in Russia FINANCE | 4 days ago Defi Portfolio Tracking Startup Debank Raises $25M From Sequoia China, Crypto.com, Circle FINANCE | Dec 29, 2021


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCudos Puts the Entire Sports’ World Into the Metaverse With UFF Sports Next articleThe Sandbox Partners With a Myriad of Hong Kong Luminaries, Plans to Launch Metaverse ‘Mega City’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItBank of Russia to Collect Data on Crypto-Related Transactions Between Individuals


The Central Bank of Russia (CBR) plans to obtain information from commercial banks pertaining to some money transfers between private individuals, including clients trading cryptocurrency. The measure is likely to affect online crypto exchangers which the regulator accuses of conducting ... read more.Crypto Exchange Binance Receives Approval in Bahrain — Plans to Become Regulated, Centralized Worldwide Billionaire Ray Dalio Sees Limitation on Bitcoin"s Price, Doubts BTC Can Reach $1 Million Mexico"s Third Richest Billionaire"s Advice: Invest in Bitcoin, Stay Away From Dollars, Euros Charles Hoskinson Discusses Cardano’s 2022 Plans, Founder Says Project ‘Needs Institutions to Have Stake in the Success of ADA’

News Feed

Brayden Lindrea5 hours agoOn-chain tool to seize crypto is a purist’s nightmare, but a must, says CEOA United States federal court recently used on-chain tech to lock criminals out of their crypto on the Jurat Network.
Blockchain gaming ‘disappointing’ despite high funding — Pixelverse co-founder
Ezra Reguerra54 minutes agoBlockchain gaming ‘disappointing’ despite high funding — Pixelverse co-founderPixelverse co-founder Kori Leon said their organization is taking a different approach by building a strong u
Leonicorn Swap Token ($LEOS) Is Now Trading on BitMart
Leonicorn Swap Token ($LEOS) Is Now Trading on BitMart press release PRESS RELEASE. BitMart has listed $LEOS, the utility token powering the Leonicorn Swap platfo
Samsung secures $6.4B grant to expand Texas chip manufacturing: Report
Zoltan Vardai13 hours agoSamsung secures $6.4B grant to expand Texas chip manufacturing: ReportThe South Korean manufacturing conglomerate also plans to invest up to $45 billion in expanding its Texas facility by the end
10 signs you’ve been in the crypto industry too long
Yohan Yun10 hours ago10 signs you’ve been in the crypto industry too longDiscover the telltale signs of a true crypto veteran through market crashes, memecoins, and the highs and lows of digital gold.6133 Total views5
Visa Partners With Over 65 Crypto Platforms — Crypto-Linked Card Usage Soars Despite Price Volatility
Visa Partners With Over 65 Crypto Platforms — Crypto-Linked Card Usage Soars Despite Price Volatility Visa has now partnered with more than 65 crypto platforms and exchanges. In
Captain Tsubasa NFT soccer game debuts on Oasys blockchain
Ezra Reguerra25 minutes agoCaptain Tsubasa NFT soccer game debuts on Oasys blockchainMint Town CEO Hiroshi Kunimitsu said integrating into the Oasys blockchain lets fans experience the story in a new way.174 Total viewsL
Brian Nibley3 hours agoInflation and war impact markets, but Paul Tudor Jones says, ‘I love Bitcoin and gold’Billionaire investor Paul Tudor Jones says he is bearish on U.S. stocks, and bullish on Bitcoin and gold.94
Tether’s slowdown in supply points to cooling crypto activity
Ana Paula Pereira4 hours agoTether’s slowdown in supply points to cooling crypto activityAs of June 24, Tether’s month-over-month supply has risen by less than 1.5%, down from over 5% in April and May.692 Total views
As BTC Slides Toward Resistance, the Chance of a Rare Triple Top Formation Comes Into Play
As BTC Slides Toward Resistance, the Chance of a Rare Triple Top Formation Comes Into Play The cryptocurrency economy has shed a lot of value during the last six months dropping 48
Ana Paula Pereira3 hours agoCurve-Vyper exploit: The whole story so farCurve Finance pools were targeted by hackers in a reentrancy attack on July 30, sending shockwaves across the DeFi ecosystem. Cointelegraph compiled
Ross Ulbricht NFT Collection Raises Over $6 Million in Ethereum, Free Ross DAO Wins Auction
Ross Ulbricht NFT Collection Raises Over $6 Million in Ethereum, Free Ross DAO Wins Auction The Ross Ulbricht Genesis non-fungible token (NFT) collection auction has come to an end