OpenSea Raises $300 Million at more than $13.3 Billion Valuation

OpenSea is an NFT peer-to-peer marketplace for non-fungible tokens and crypto collectibles. People can buy and sell collectibles, gaming items, and a variety of virtual goods backed by blockchains through smart contracts.

The Series C round was led by Paradigm and Coatue Management. The money raised is planned to be used for hiring new employees, product development, and improving customer safety and support. “Devin and Alex have shown true grit over the last four years, weathering uncertainty and sticking to their vision of NFTs as an internet- and world-changing primitive,” Paradigm Managing Partner, Fred Ehrsam.

OpenSea, headquartered in New York, was founded by Alex Atallah, Devin Finzer in 2017. It was the first open marketplace for NFT on the Ethereum blockchain. As of now, the company has more than 600 000 users. The OpenSea team consists of 70 employees. The company remains the biggest marketplace that supports multiple blockchains with the broadest set of categories. The OpenSea mission is to build an accessible marketplace for creators, sellers, and buyers.

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