NFTs marketplace OpenSea raises $100 million

OpenSea becomes a unicorn

On its website, the non-fungible token platform (NFTs) OpenSea announces that it has raised $100 million in a series B round.

This round of financing was led by the venture capital firm a16z and allows OpenSea to enter the closed circle of unicorns. Indeed, with this financing, the company is now valued at nearly 1.5 billion dollars. At this stage, very few companies have reached this status; for example, Coinbase, Animoca Brands which develops NFTs games or Chainalysis.

Among the participants in this round of financing are the hedge fund company Coatue as well as personalities such as Michael Ovitz (former president of Walt Disney) Kevin Durant (NBA star) and Ashton Kutcher (actor).

The goal of this fundraising is to allow OpenSea to expand its operations globally as well as significantly grow its team, including hiring engineers.

“It’s about growing the platform we’ve built, which has seen significant volume growth in the first half of the year. We think NFTs are really one of those paradigm shifts that happens once every couple of decades that are just incredibly exciting,” said Devin Finzer, CEO of OpenSea.

Reducing transaction costs for a new audience

Alongside the fundraising, the company announced that it wants to embark on a “ cross-blockchain ” support. In this sense, it has developed a gas-free marketplace (no transaction fees) on the Polygon blockchain (Matic).

In this regard, OpenSea CEO Devin Finzer states:

“We are now the first “cross-blockchain” NFTs marketplace. We have announced support for our Polygon integration, which is a layer 2 platform for Ethereum. This enables zero transaction costs for creators, buyers and sellers. And we will be rolling out more blockchain integrations in the future.”

In the future, OpenSea plans to continue reducing transaction fees to democratize access to its platform.

“We are making the product more accessible to reach a wider audience, including building OpenSea as a brand directly related to NFTs,” Devin Finzer explained.

Despite the slight downturn in the NFT industry recently, OpenSea continues to grow. In fact, during the month of June 2021, the platform sold $160 million worth of digital assets on its marketplace and saw a 45% increase in volume growth during the first half of 2021.

Check it out – <a href=””>NFTs marketplace Rarible raises $14.2 million to expand on blockchain Flow


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About the author : Anthony Bassetto

NFTs marketplace OpenSea raises $100 million