OpenSea Expands Into the Venture Capital Business

2 years ago

Popular non-fungible token (NFT) marketplace OpenSea is launching an concern limb aft raising $300 cardinal astatine a $13.3 cardinal valuation successful January.

  • OpenSea Ventures is dedicated to increasing the Web 3 ecosystem “through NFTs, decentralized systems and different caller blockchain uses,” said the institution in a blog post.

  • Alongside the task business, OpenSea is besides launching Ecosystems Grants, which are “aimed astatine elevating creators, developers, and passionate assemblage members moving to enrich and grow the NFT ecosystem.”

  • The task money is to beryllium led by OpenSea co-founder Alex Attalah. Among cardinal selling points for imaginable portfolio companies volition beryllium entree to the company’s strategical partners, including Andreessen Horowitz (a16z), Standard Crypto, Animoca Brands and Kevin Hartz's A* Capital.

  • OpenSea saw much than $5 cardinal worthy of NFTs traded connected its level successful January, a caller monthly record.

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