Opensea, the leading non-fungible token (NFT) market, announced that the company has raised $300 million in a Series C financing led by Paradigm and Coatue. Opensea’s latest financing brings the company’s post-investment valuation to $13.3 billion.
Opensea raised 300 million US dollars, and the post-transaction valuation reached 13.3 billion US dollars
In mid-November, a Report An article written by Kate Clark and Berber Jin of theinformation.com explains that Opensea is making new investments after investors are reportedly scrambling to fund the project. At the time, Opensea was estimated to be valued at 10 billion U.S. dollars, and two sources said: “Investors are vying to get a share of this startup.”
After 48 days, Opensea disclose It raised $300 million in Series C financing. The team stated that the new funds will be used to “accelerate product development”, “significantly improve customer support”, “invest in a wider NFT and Web3 community” and expand the Opensea team.This round of financing is funded by example and coat, And the addition of some other strategic investors.
Opensea’s history of NFT sales is close to 15 billion U.S. dollars, surpassing competitors, the company plans to launch a grant program
According to Opensea, the new funding brings the company’s post-investment valuation to $13.3 billion. In terms of historical sales, Opensea is still the largest NFT market, as the company’s sales of 1,387,357 traders worldwide are US$14.68 billion. Sales in the past 30 days have increased by more than 25% to a record US$2.91 billion. The $14.68 billion in sales is much larger than any other NFT project or market.
For example, the historical sales of Axie Infinity, the second largest market, were US$3.94 billion, which is 73.16% lower than Opensea’s sales. Opensea’s co-founder and CEO Devin Finzer explained in the funding announcement that the team is creating a grant program to help expand “the entire NFT ecosystem.” As of press time, the Opensea platform supports NFT based on Ethereum (Ethereum) And polygon (MATIC) network.
“This quarter, we will launch a grant program that will give us the opportunity to directly support developers, builders and creators who shape the future of NFT spaces,” Finzer said in a statement. “Our goal is to promote 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 to make it better.”
What do you think of Opensea’s $300 million raised and the company’s $13.3 billion post-investment valuation? Please tell us your thoughts on this topic in the comments section below.
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