Wednesday, September 27, 2023
HomeEthereumEthereum-Based NFT Marketplace Raises $300,000,000 in a Round Led by Giant Crypto...

Ethereum-Based NFT Marketplace Raises $300,000,000 in a Round Led by Giant Crypto VC Firm

The Ethereum-based non-fungible token (NFT) marketplace OpenSea is currently valued at $ 13.3 billion after investors inject additional capital in the latest funding round.

and statementDevin Finzer, CEO and co-founder of OpenSea, announced that it has raised $ 300 million in a Series C funding round led by crypto-focused venture capital firm Paradigm and global investment manager Coatue. ..

“We are excited to work with these great partners, thinkers, and builders who collectively bring a deep experience of Web3, NFT, and best-in-class consumer experiences.”

Finzer says the money will be used to accelerate product development, improve customer support and security, invest in NFT and Web3 communities, and grow the OpenSea team.

“Our ambition is to raise the profile of emerging creators and promote the scale and growth of the broader NFT ecosystem, including investing in those who better shape today’s NFT space.”

As the popularity of NFTs soars, additional investments will be made.High seas treated Transaction value in 2020 was only $ 21 million, but surged last year.

Data from the blockchain research tool Dune Analytics show In December alone, OpenSea responded to over $ 3.2 billion in trading volume. The platform reached its monthly maximum in August when it processed more than $ 3.4 billion in transactions.

“Last year, the NFT ecosystem exploded, and in 2021, OpenSea’s transaction volume increased more than 600 times.”

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Featured image: Shutterstock / Unknown man

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