Online NFT marketplace OpenSea announced it has secured $300 million in Series C funding, bringing its value to over $13 billion.
Last week, NFT marketplace OpenSea announced it has raised $300 million as part of a Series C funding led by Coatue and Paradigm, bringing the marketplace’s value to over $13.3 billion.
Relate | Searches For ‘NFT’ Surpass Those For ‘Crypto’
The capital raised by new and existing investors will allow OpenSea to reach four goals: accelerate product development, improve customer support and customer safety, meaningfully invest in the wider NFT and Web3 community, and grow its team of recruited staff.
“We are excited to work with these incredible partners, thinkers, and builders who collectively bring a depth of experience in Web3, NFTs, and best in class consumer experiences,” explains the company in its announcement.
The digital platform founded in 2018 is based on the Wyvern Protocol, which comprises smart contracts built on the Ethereum blockchain created for buying and selling NFTs.
Last year, the ever-rising NFTs industry saw the sale of over $14 billion worth of unique digital collectibles. Most of the transactions, 91% of them to be precise, came through the sale of digital art collections and digital collectibles.
In the first three days of this year alone, the OpenSea marketplace oversaw more than $700 million in trading volume, according to data posted by Rchen8 on Dune Analytics.
You might also like
More from Tech
Check Out The 21 New Emojis Coming With iOS 16.4
With iOS 16.4 beta version, iPhone, iPad, and Mac users can discover the 21 new Emojis, including the long-awaited pink …
Apple Could Soon Allow Third-Party App Stores On The iPhone
Upcoming EU rules could mean Apple will have to allow third-party app stores on the iPhone starting in 2024.The news …
Apple Enhances Security with End-to-End Encryption for iCloud Backups
Apple is expanding its iCloud security features and introducing support for security keys for two-factor authentication.TL;DR; – Apple has announced …
Google Japan Unveils An Insane 5-Foot Long Keyboard
The “Key Bou” is an insane 5-foot straight bar keyboard designed by Google to promote its virtual GBoard, available on …
Govee Rolls Out A New 16-foot Premium Smart LED Strip
Govee’s new multicolor smart LED strip is 16 feet long (5 meters) and has a built-in mic for syncing to …
Kim Kardashian And Beats Introduce Special Edition Fit Pro Earbuds
Kim Kardashian's special edition Beats Fit Pro are now available at Apple stores.The earbuds come in three neutral colors, Moon, …
Lyft Wants To Cash In On In-Car Digital Ads
Lyft announced the launch of Lyft Media, a new digital advertising business unit with the potential to add billions to …
Amazon Alexa Mimics The Voices Of Your Dead Relatives
Amazon is testing an experimental Alexa feature that allows it to mimic the voices of your dead relatives. Read that …
Adobe Announces Express Content Scheduler
Adobe has announced Adobe Express Content Scheduler, a new tool to help social media managers make, plan, preview, and publish …