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

Opensea, a leading non-fungible token marketplace (NFT), announced that it has raised $300 Million in Series C financing led by Paradigm & Coatue. Opensea’s latest capital raise has propelled the company to a $13.3 billion post-money valuation.

Opensea raises $300 million and commands a $13.3 billion post-money value

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.”

Opensea revealed that they have raised $300 Million in Series C funding just 48 days after the announcement. 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. Paradigm, Coatue and other strategic investors led the funding round.

Opensea Sales of NFTs in All Time Near $15 billion, Exceeding Competitors. Firm plans to launch a Grant Program

Opensea claims that the company’s new financing will give it a $13.3 million post-money value. Opensea has also been the biggest NFT marketplace by sales. Its total annual sales of $14.68 billion have been achieved through 1,387.357 traders around the globe. The last 30 days have seen sales rise by 25% with an average volume of $2.91 billion. It is much more than any NFT project, market, or product.

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.”

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$13.3 Billion. $300 Million. android, Ashton Kutcher. Coatue. Ethereum. Ethereum. (ETH), Finance. iOS app. Markets. nft. NFT Market. NFT marketplace. NFTs. 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? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been an active member ever since. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for Bitcoin.com News, with over 5000 articles on disruptive protocols.

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