Thursday, September 28, 2023
HomeOpenseaNFT marketplace OpenSea raises $23 million led by Andreessen Horowitz - Ledger...

NFT marketplace OpenSea raises $23 million led by Andreessen Horowitz – Ledger Insights

yesterday High seas, The Non-Fungible Token (NFT) Marketplace has announced $ 23 million in Series A funding led by Andreessen Horowitz. Among many other investors are Mark Cuban, Navy Ravicant, Tim Ferriss and Alexis Ohanian.Owner $ 69 Million Beeple ArtMetapurse is also an investor.

OpenSea’s previous funding was $ 2.1 million raised from November 2019 Animoka brand And some others.

As the graph shows Non-fungible token I took off this year.Each token represents a unique blockchain-based right to objects that are often digital, such as images, videos, sports, etc. Collected items Or in-game items.

So how is OpenSea different from other players in this area? The answer is that you want to be an NFT eBay. It’s certainly not the only market. Other sites such as Mintable, Rarible, and MakersPlace all have marketplaces where you can create, buy, and sell NFTs. Opensea does the same thing, but also acts as an aggregator, fetching data from other sites you want to participate in and creating more eyeballs. This is the same way e-commerce sites often exist on Amazon and eBay.

Most other NFT marketplaces are of a single type NFT Many types are listed in OpenSea, including art, including: artTrading cards, sports goods, in-game items for the virtual world using blockchain such as Decentraland.

So far, this site mainly supports Ethereum NFTs, but there are plans for other blockchain protocols, and Tezos was recently announced as follows:

Its current business model is to take a small cut for every sale. But it’s only a matter of time before it expands. Given that NFTs are assets, one of the obvious areas is decentralized lending. However, specialized DeFi lending sites can do it themselves.

Some might think that OpenSea was successful overnight, but it has a lot of patience. Founded in late 2017, by late 2019, total monthly sales began to reach $ 1 million, and so for most of 2020 until September. The last two months can only be described as crazy growth.

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