OpenSea Announces $300M Series C Funding

NFT online marketplace OpenSea has announced that it has secured $ 300 million in Series C funding, bringing its value to more than $ 13 billion.

Last week, the NFT OpenSea marketplace announced that it had raised $ 300 million in a Series C funding led by Coatue and Paradigm, bringing the marketplace’s value to more than $ 13.3 billion. dollars.

Connect | “NFT” searches exceed those of “Crypto”

The capital raised by new and existing investors will enable OpenSea to achieve four objectives: accelerate product development, improve customer support and customer safety, invest significantly in the NFT and Web3 community at large and develop its team of recruited staff.

“We’re excited to work with these amazing partners, thinkers and builders who collectively bring deep Web3, NFT, and better consumer experiences. “ explains the company in its announcement.

The digital platform founded in 2018 is based on the Wyvern protocol, which includes smart contracts built on the Ethereum blockchain created to buy and sell NFTs.

Last year, the ever-growing NFT industry saw the sale of over $ 14 billion of unique digital collectibles. Most of the transactions, 91% of them to be precise, came from the sale of digital art collections and digital collectibles.

In the first three days of this year alone, the OpenSea marketplace oversaw more than $ 700 million in trading volume, according to data released by Rchen8 on Dune Analytics.

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