NFT Trading Platform, OpenSea secured $100 Million in Funding


OpenSea, a New York based NFT marketplace, has now secured $100 Million in funding. The company was valued at $1.5 Billion.

NFT platform provider also started supporting multiple blockchains thus becoming the first cross-blockchain NFT marketplace, notes the announcement.

OpenSea is founded by Devin Finzer. The blockchain startup offers a marketplace platform for crypto collectibles and non-fungible tokens (NFT). The NFT platform allows people to buy, sell and discover exclusive digital assets such as game items, digital art items, and domain names.

Executive Opinion

Kathryn Haun, General Partner at Andreessen Horowitz and new addition to OpenSea's board of directors, said, "The team at OpenSea realized early on the need for an open, cross-blockchain marketplace where anyone can buy, sell and create digital NFTs, which is why they are one of the most important companies in crypto today. We are thrilled to double down on this team, their technology and overall vision, as they continue to provide the best user experience for today's creators, buyers and sellers, in one platform."

Devin Finzer, Co-founder & CEO of OpenSea, said, "With increasing market adoption around crypto economies, NFTs are quickly becoming the new internet. It's pretty remarkable to be experiencing one of the biggest fundamental changes the internet economy has seen in decades. We're proud to be leading this growing industry that we have been part of for a long time. As we continue to scale, our focus will remain on our customers and providing the best user experience and entry point into NFTs."

OpenSea's Latest Funding

Andreessen Horowitz led the latest funding round for OpenSea. Other participating investors include Coatue, along with Kevin Hartz, Dylan Field, Tobie Lutke, Michael Ovitz, and Ashton Kutcher.

OpenSea intends to leverage new funds to scale its NFT platform. The NFT platform plans to hire engineering talent and expand in international markets and acquire new audiences, notes the announcement.
PC: Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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