Top NFT marketplace OpenSea's valuation soars 800% to $13.3 billion after latest funding round

Top NFT marketplace OpenSea's valuation soars 800% to $13.3 billion after latest funding round
  • OpenSea just completed a $300 million Series C funding round, led by Paradigm and Coatue.
  • The firm is now valued at $13.3 billion, up from $1.5 billion in July 2021.
  • OpenSea CEO Devin Finzer said transaction volume increased "over 600x in 2021."
  • The largest and NFT marketplace, OpenSea, announced it just closed a $300 million Series C fundraising round headlined by Paradigm and Coatue as well as new investors, valuing the the peer-to-peer NFT auction platform at $13.3 billion.

    Just six months ago, Andreessen Horowitz's crypto arm handed the firm a valuation of $1.5 billion in a funding round at that time. In the last month alone, OpenSea has recorded $2.4 billion in transaction volume, and CEO Devin Finzer said volume has increased "over 600x in 2021."

    In a press release, OpenSea said its goals following the new funding round include accelerating product development, improving customer support and safety, investing in the wider Web3 community, and growing the team.

    In March 2020, . Now, Finzer and co-founder Alex Atallah are household names in the Web3 space and OpenSea continues to see massive trading volume.

    Wall Street, too, has taken notice of NFTs and the wider metaverse sector. Goldman Sachs said crypto technology will be as it sits at the center of the metaverse. Fund manager Grayscale said presents a potential

    Just this week, sales of the popular NFT series on momentum from high-profile buyers like and among other celebrities.

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