Valuation Up By 800%: Opensea Closes At $13 Billion At Latest Fundraise

Founded by Devin Finzer and Alex Atallah in 2017, Opensea is a  peer-to-peer marketplace for NFTs, rare digital items and crypto  collectibles.

As the largest NFT marketplace online – not only is Opensea a hot topic  today on twitter – but in accordance with the Series C funding round,  the firm’s recent valuation at $13.3 billion places it among the most  rapidly growing platforms throughout 2021.

OpenSea CEO, Devin Finzer, remarked that the transaction volume of  Opensea increased “over 600x in 2021,” this accompanied by a notable  increase in value from its $1.5 billion valuation just the previous  year.

According to Crypto Daily, OpenSea announced that it had successfully  closed a $300 million funding round after reports began emerging about  its funding effort.

Raising 1.5 billion last year, sources told that Opensea planned to  raise an ambitious sum of $15 billion this time, before investors  settled at a lower figure.

Disclosing that that Coatue Management and Paradigm led the round, Eric Newcomer was the one to reveal the $13 billion figure.

Set to keep up with the pace, Opensea stated that it fully intends to  expand its roots further by setting goals that include accelerating  product development, improving customer support and safety, meaningfully  investing in the wider Web3 community, and growing the team, following  this funding round.

Business Insider reports, in March 2020, Opensea made less than$30,000  in commision revenue per month. Now, Finzer and co-founder Alex Atallah  are household names in the Web3 space and OpenSea continues to see  massive trading volume.

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Valuation Up By 800%: Opensea Closes At $13 Billion At Latest Fundraise