NFT Marketplace OpenSea Valued at $13.3B in $300M Funding Round: Report

NFT Marketplace OpenSea Valued at $13.3B in $300M Funding Round: Report

Paradigm and Coatue led a $300 million funding round that cements NFT marketplace OpenSea as one of the most valuable private firms in crypto.

The New York Times reported Tuesday night that investors valued OpenSea at $13.3 billion, up sharply from the startup’s $1.5 billion valuation from a $100 million Series B announced last July.

Tuesday’s big numbers show the rapidity with which OpenSea has ensconced itself as the leading venue for trading non-fungible tokens. In the last 30 days alone, the marketplace for prized profile pics and other digital collectibles logged 1.6 million Ethereum transactions and a trading volume of $2.4 billion, according to data compiled by DappRadar.

OpenSea’s latest is another sign of the boom times in crypto venture capital investments.

For comparison, FTX’s most recent funding round valued the crypto exchange at a whopping $25 billion.

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