OpenSea NFT Marketplace Valued at $13.3 Billion!

07 January 2022 Internet, IT & e-Discovery Blog Blog
Authors: Peter Vogel

The NYTimes.com reported that “Founded in 2017, OpenSea was created as a marketplace for people to buy and sell so-called NFTs, or nonfungible tokens, which are unique pieces of digital code backed by blockchain technology.”  The January 4, 2022 article entitled “OpenSea valued at $13.3 billion in new round of venture funding” included these comments:

OpenSea, one of the most talked-about blockchain start-ups in Silicon Valley, said on Tuesday that it had raised $300 million in new venture capital, making it the latest company to cash in on a rush to fund cryptocurrency start-ups.

The new round of funding, led by the investment firms Paradigm and Coatue Management, brings the start-up’s valuation to a staggering $13.3 billion just four years after it was founded. OpenSea previously raised more than $100 million from a host of investors, including the investment firm Andreessen Horowitz and the actor Ashton Kutcher, according to data provided by the company.

Stay tuned on the growth of NFTs on OpenSea!

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