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 steadfast has raised $300 cardinal successful a Series C backing circular led by Paradigm and Coatue. Opensea’s latest superior rise has propelled the institution to a $13.3 cardinal 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 caller investments aft investors were allegedly chomping astatine the spot to money the project. At the time, Opensea’s estimated valuation was $10 cardinal and 2 sources said: “investors are clamoring for a portion of the startup.”

48 days later, Opensea has revealed it raised $300 cardinal successful a Series C concern round. The squad says that the caller backing volition spell toward “accelerating merchandise development,” “significantly amended lawsuit support,” “investing successful the wider NFT and Web3 community,” and expanding the Opensea team. The backing circular was led by Paradigm and Coatue, and a fig of different strategical investors joined.

Opensea All-Time NFT Sales Near $15 Billion, Eclipsing Competitors, Firm Plans to Launch Grant Program

According to Opensea, the caller backing gives the institution a $13.3 cardinal post-money valuation. Opensea is besides the largest NFT marketplace, successful presumption of all-time sales, arsenic the institution has recorded $14.68 cardinal successful income crossed 1,387,357 traders worldwide. Sales are up much than 25% during the past 30 days with a recorded $2.91 cardinal successful volume. The $14.68 cardinal successful income is simply a batch larger than immoderate different NFT task oregon market.

For example, the second-largest market, Axie Infinity, has $3.94 cardinal successful all-time income which is 73.16% little than Opensea’s sales. Devin Finzer, co-founder and CEO of Opensea, explained successful the backing announcement that the squad is creating a assistance programme to assistance grow the “entire NFT ecosystem.” At property time, the Opensea level supports NFTs based connected the Ethereum (ETH) and Polygon (MATIC) networks.

“This quarter, we are launching a assistance programme to springiness america the accidental to straight enactment the developers, builders, and creators shaping the aboriginal of the NFT space,” Finzer said successful a statement. “Our ambition is to foster the standard and maturation of the broader NFT ecosystem including raising the illustration of emerging creators and investing successful the radical who signifier the NFT abstraction for the amended today.”

What bash you deliberation astir Opensea raising $300 cardinal and the firm’s $13.3 cardinal post-money valuation? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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