Opensea is the newest non-fungible token (NFT) focused company to raise funds this year as the company announced this week it will raise $ 100 million in a Series B. The venture capital company Andreessen Horowitz led the Opensea financing round together with investors such as Kevin Durant, Ashton Kutcher and Tobi Lutke.
NFT Marketplace Opensea joins the Blockchain Unicorns, project now supports Polygon
One of the largest non-fungible token (NFT) marketplaces, Opensea, announced that the company has raised $ 100 million in a Series B funding round. In addition, the project also announced that it is expanding its functions to include “cross-blockchain support” and that Opensea will begin supporting the polygon blockchain. The financing round led by Andreessen Horowitz (a16z) brings Opensea with a valuation of 1.5 billion US dollars after the series B in the unicorn status of blockchain startups.
“At Opensea, we believe that NFTs will become one of the first consumer-centric killer applications for blockchains,” the company said during the funding announcement. “NFTs are a simple primitive for digital goods (think digital art, toys, domain names, and more) with brand new features: They are unique, proven scarce, liquid, user-owned, and multi-purpose,” the company added.
In addition to a16z, Coatue and investors such as Michael Ovitz, Kevin Hartz, Dylan Field, Kevin Durant, Ashton Kutcher and Tobi Lutke also took part in Opensea’s Series B. “NFTs are the building blocks for brand new peer-to-peer economies where users can have more freedom and ownership of their data and developers can build powerful, interoperable applications to deliver real economic value to users,” says NFTU Opensea the financing announcement.
Opensea is floating in an ocean of competitors in the NFT marketplace raising money
According to 30-day statistics from Dune Analytics, Opensea’s sales volume in July is the highest ever, beating last month’s record data. A volume of $ 174.6 million was recorded in July, but the daily volume is lower than usual at $ 4.4 million.
Daily statistics from Dune Analytics show Opensea hit $ 23.1 million in the first week of May on May 4th. As for Polygon’s Opensea support, users can try it out today on Opensea’s Matic website. “Buyers no longer have to pay blockchain fees when trading on Opensea, and creators can fully immerse themselves in crypto for the first time,” the company noted.
Opensea’s Series B follows a number of NFT-focused markets that have raised millions to expand the NFT industry. Enjin raised $ 20 million in a token sale for the Efinity NFT marketplace, which supports the Polkadot blockchain. The Rarible NFT market recently raised over $ 14 million and plans to launch on the Flow blockchain.
Mark Cuban-sponsored non-fungible token (NFT) marketplace Mintable raised $ 13 million in a Series A funding round in the first week of July. Investors and venture capital firms seem to believe the NFT hype will continue for a long time, and Opensea’s recent funding shows that the trend is continuing.
What do you think of Opensea’s raised $ 100 million? Let us know what you think on this matter in the comments below.
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