[Serie C] OpenSea’s NFT market reaches a valuation of $ 13.3 billion

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After a year dominated by NFTs, one of OpenSea’s major markets is whetting investors’ appetites and is now valued at $ 13.3 billion, up from $ 1.5 billion just six months ago. A lightning-fast acceleration for this startup launched in 2017 that has raised ever greater sums since the rise of NFTs in 2021.

OpenSea raised just over $ 4 million between 2017 and 2021, before welcoming famed fund Andreessen Horowitz to its shareholders, which led the company’s A and B series for a total of $ 123 million. Yesterday, January 4, OpenSea announced a $ 300 million Series C round, primarily made by Paradigm and Coatue.

“We have four goals for this funding: 1) accelerate product development, 2) significantly improve customer service and customer security, 3) significantly invest in the broader NFT and Web community, and 4) expand our team. “explains Devin Finzer, co-founder of OpenSea, in a blog post.

Ever increasing transaction volumes

The platform looks set to break all records, with ever-increasing transaction volumes. It has recorded $ 700 million in transactions since January 1, 2022 and could very well beat its record of 3.4 billion transactions in August 2021. Recall that the company received hundreds of millions of dollars in commissions in 2020 and intends to establish itself as the essential market for the purchase and sale of NFTs.

“OpenSea’s vision is to become the premier destination for growing these new open digital economies, building the ultimate hot and the most reliable in the world with the best selection “adds Devin Finzer.

The NFT market also seems to be consolidating, with the arrival of traditional auction houses, such as Sotheby’s, which announced last October the creation of a digital space reserved for NFT collectors and a now six-monthly sale of these digital objects. Likewise, the major players in the cryptocurrency sector are looking more and more seriously at this market, such as the American giant Coinbase, which recently unveiled its ambitions in this sector.

Market : the market is estimated at $ 40 billion according to a Chainalysis study

Founders: Alex Atallah, Devin Finzer

Creation: 2017

Headquarters: Nantes

Sector: Tech

Financing: $ 427.2 million since its inception in 2017

Fundraising news is provided to you in collaboration with Junto

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