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OpenSea raises USD 100 million in Series B funding
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Jul 20, 2021
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Creator Economy

Creator Economy

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Jul 20, 2021

OpenSea raises USD 100 million in Series B funding

Funding

  • The NFT marketplace OpenSea has raised USD 100 million in a Series B funding round led by Andreessen Horowitz, with participation from Coatue, Ashton Kutcher, and Kevin Hartz among others. This round brings total funding to more than USD 127 million, valuing OpenSea at USD 1.5 billion.

  •  The company reported that it is looking to bring support for several more blockchains to its platform in an attempt to generate long-term scalability. Starting with a gas-free marketplace on the Polygon blockchain (Layer 2 Ethereum), OpenSea is planning to integrate with Dapper Labs’ Flow blockchain and Tezos in the future. OpenSea claims this will make it the first NFT marketplace to go cross-blockchain. It also reported sales of USD 160 million last month and expects to exceed that figure this month. 

  • Founded in 2017, OpenSea offers an Ethereum-based online marketplace for crypto collectibles and NFTs including assets using the interoperable standards ERC-721 and ERC-1155. The company claims to be the first and largest NFT marketplace where users can buy, sell, and discover rare digital items such as Gods Unchained Cards, ENS names, CryptoKitties, and Decentraland land.

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