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NFT Market Opensea Raises $100 Million — Agency Turns into a Blockchain Unicorn

07/22/2021
NFT Marketplace Opensea Raises $100 Million — Firm Becomes a Blockchain Unicorn

Opensea has grow to be the most recent non-fungible token (NFT)-focused agency to lift funds this yr as the corporate introduced elevating $100 million in a Sequence B this week. The enterprise capital agency Andreessen Horowitz led the Opensea financing spherical alongside buyers like Kevin Durant, Ashton Kutcher, and Tobi Lutke.

NFT Market Opensea Joins the Blockchain Unicorns, Challenge Now Helps Polygon

One of many largest non-fungible token (NFT) marketplaces right now, Opensea, has introduced the corporate has raised $100 million in a Sequence B funding spherical. Moreover, the challenge additionally introduced it was increasing its options to “cross-blockchain help” and Opensea will begin supporting the Polygon blockchain. The funding spherical led by Andreessen Horowitz (a16z) places Opensea into the unicorn standing of blockchain startups with a valuation of $1.5 billion after the Sequence B.

NFT Marketplace Opensea Raises $100 Million — Firm Becomes a Blockchain Unicorn

“At Opensea, we imagine NFTs are rising as one of many first consumer-oriented killer purposes for blockchains,” the corporate stated in the course of the funding announcement. “NFTs are a easy primitive for digital items (suppose digital artwork, recreation objects, domains, and extra) with model new properties: they’re distinctive, provably scarce, liquid, user-owned, and usable throughout a number of purposes,” the agency added.

Along with a16z, Opensea’s Sequence B noticed participation from Coatue, in addition to buyers like Michael Ovitz, Kevin Hartz, Dylan Discipline, Kevin Durant, Ashton Kutcher, and Tobi Lutke. “NFTs signify the constructing blocks for model new peer-to-peer economies, the place customers have better freedom and possession over their information, and builders can construct highly effective, interoperable purposes to supply actual financial worth to customers,” Opensea’s funding announcement emphasizes.

Opensea Swims in an Ocean of NFT Market Opponents Elevating Cash

In keeping with 30-day statistics from Dune Analytics, Opensea’s gross sales quantity is the best ever for the month of July surpassing final month’s record-breaking information. July has seen $174.6 million in quantity however each day quantity is decrease than standard at $4.4 million.

Day by day statistics from Dune Analytics point out that in the course of the first week of Could, Opensea noticed $23.1 million on Could 4. So far as Polygon Opensea help, customers can try it out right now by visiting Opensea’s Matic net web page. “Consumers not must pay blockchain charges when making trades on Opensea, and creators can totally earn their method into crypto for the primary time,” the corporate famous.

Opensea’s Sequence B follows various NFT-focused markets which were capable of elevate hundreds of thousands to increase the NFT business. Enjin raised $20 million in a token sale for the Efinity NFT market that helps the Polkadot blockchain. The NFT market Rarible raised over $14 million lately and it plans to launch on the Move blockchain.

The Mark Cuban-backed non-fungible token (NFT) market Mintable raised $13 million in a Sequence A funding spherical in the course of the first week of July. Buyers and enterprise capital corporations appear to imagine that the NFT hype will stick round for fairly a while, and Opensea’s newest funding reveals the development continues.

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