<ul><li>OpenSea, an online marketplace for crypto collectibles and NFTs, has raised USD 300 million in a Series C funding round led by Paradigm and Coatue Management, valuing the company at USD 13.3 billion. This is in sharp contrast to the previous valuation of USD 1.5 billion during its Series B funding round in July 2021.</ul>

• The fresh funds will be used to accelerate product development, improve user experience, improve security and customer support through product and technical investments, and double its customer support as well as trust and safety teams’ headcount (currently over 60) by the end of 2022. Part of the funds will also be used to invest in the NFT community to support developers, builders, and creators, and to grow its overall team.

• As per several third-party sources, OpenSea is reportedly in talks with Dharma Labs, a digital cryptocurrency wallet, for an all-stock acquisition valued between USD 110 million and USD 130 million. Dharma Labs claims to be the only Ethereum wallet that can move dollars between centralized exchanges and banks while facilitating transactions for over 70,000 crypto tokens.