NFT marketplace startup OpenSea secures $23 Million in Funding

Non-Fungible Token marketplace startup OpenSea has secured $23 Million in funding.

The NFTs are blockchain-based records for digital goods such as digital art, game items, domain names, and uniquely represent pieces of media. NFTs are unique, provably scarce, liquid, user-owned, and usable across multiple applications. OpenSea offers an NFT marketplace and answers questions such as who, what, when, where about particular NFT.

In an announcement, the co-founder and CEO of OpenSea, Devin Finzer, said, "At OpenSea, we are growing and shaping this economy by building the world’s best, largest, and most trusted marketplace for this new type of digital asset. Over the coming years, billions of people will be introduced to digital ownership, and we’ve built OpenSea as a trusted entrypoint into that world."

The transaction volume at OpenSea NFT marketplace has grown over 100x in the last six months. There are around 20 million-plus NFTs that can be traded at OpenSea owned by respective users, notes the announcement.

Many investors participated in the latest fundraising round including existing investors such as 1Confirmation, Pascal Capital, Blockchain Capital, Regan Bozman, Kevin Hartz, and Dylan Field Figma.

The company intends to leverage new funds to grow its NFT marketplace to the next level, notes the announcement.