OpenSea’s total valuation exceeds USD 13.3 billion-

According to reports, Devin Finzer, co-founder Outside sea – Said that his company’s goal is to become the friendliest and most trustworthy NFT market in the world and provide the best choice.

OpenSea’s valuation increased by USD 13.3 billion through a Series C financing of USD 300 million. This round of financing was led by hedge fund Coatue and cryptocurrency venture capital firm Paradigm.

Investors will mainly invest funds in the C-round financing start-ups and booming enterprises. They hope to recover more than twice the investment amount. The C round of financing focused on expanding the business, expanding as quickly and successfully as possible.

It can be said that only half a year ago, OpenSea was worth 1.5 billion US dollars. At that time, Anderson Horowitz, America’s greatest venture capital firm, led a $100 million Series B financing.

Despite some high-profile user errors, the company has been making rapid progress.According to recent reports, the NFT market recorded 1.6 million Ethereum Transaction and transaction volume of $2.4 billion in customized profile pictures and other digital assets.

“During the past four years, Devin and Alex have shown true spirit, endured uncertainty and persisted in their ideas. NFT As an element of the Internet and changing the world,” Fred Ehrsam, managing partner of Paradigm, notified CoinDesk via email.

Investors such as Coatue and Paradigm led the investment in Fund C. OpenSea describes them as “excellent partners, philosophers and creators” capable of delivering “a first-class customer experience.”

The NFT market promises to divide the US$300 million investment into four categories:

  • Strengthen product development.
  • Improve customer support.
  • Invest in the broader NFT and Web3 ecosystem.
  • Develop its team.

First, the company plans to strengthen product development. To this end, they have hired Shiva Rajaraman as their new vice president of products.

Second, OpenSea is committed to strengthening its customer support policies. Finzer revealed: “We have now expanded our customer trust and safety team to more than 65 people, and hope to double this team by the end of 2022.”

Third, the company hopes to raise funds in a wider range NFT ecosystemIt added that it intends to launch a funding program in the first quarter of 2022 that will provide direct assistance to developers, creators and builders to redefine the destiny of the irreplaceable token ecosystem.

Finally, OpenSea will welcome people who want to be part of the emerging NFT world. “We are passionate about the upcoming journey,” Finzer concluded. They will cherish the 600-fold growth, and his company has achieved an increase in transaction volume in 2021.

About Kaihai

OpenSea is an online market for non-fungible tokens. It was founded by Devin Finzer and Alex Atallah in New York on December 20, 2017. As we all know, OpenSea marks itself as the largest digital commodity market. In addition to digital art, there are also collectibles, domain names, game props, and even digital copies of physical assets. Basically, OpenSea is similar to eBay, dividing millions of products into hundreds.

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