The first and largest peer to peer marketplace for digital collectibles – NFTs OpenSea has become the first company in the NFT niche to become a Unicorn after a recent Series B funding round led by Andreessen Horowitz’s a16z.
OpenSea announced it has received $100 million investment on tuesday, 20th of July, 2021 which puts the company at a valuation of $1.5 billion.
Unicorns are private startups that have become valued at over $1 billion. Other investors who participated in the funding round were Coatue and CAA, Michael Ovitz, Kevin Hartz, Kevin Durant and Ashton Kutcher.
Earlier in March, OpenSea announced it has raised $23 million in a Sries A funding round led by a16z with other investors such as Ron Conway, Mark Cuban, Belinda Johnson, Naval Ravikant, Ben Silbermann etc.
OpenSea revealed that it will use the capital to scale its NFT platform ‘with immediate focus on hiring engineering talent and expanding internationally to new markets and audiences, making buying and selling NFTs more accessible to users.’
In month of June, transaction on the NFT platform was about $160 million and this it noted was a 45x increase in volume growth during the first half of the year.
Don’t miss this – The Nigerian Crypto Startup Bill: What To Expect
Devin Finzer, Coofounder & CEO of OpenSea speaking said “with increasing market adoption around crypto economics, NFTs are quickly becoming the new internet”; “it is pretty remarkable to be experiencing one of the biggest fundamental changes the internet economy has seen in decades”
He continued saying
“We’re proud to be leading this growing industry that we have been part of for a long time. As we continue to scale, our focus will remain on our customers, and providing the best user experience and entry point into NFTs.”
OpenSea has been innovating since it launched. One of its recent innovations is the support for Polygon, eliminating gas fees for creators, buyers and sellers on the marketplace. The NFT marketplace revealed its plans to invest in interoperability and scalability of the OpenSea’s crosschain marketplace which is calls the company’s larger vision to bring users closer to Web3.
The CBDC will lower the cost of doing business – CBN
Nigeria’s CBDC to Run on Hyperlegder Fabric
NatWest Suspends Payments to Binance
Carlifornian Resident Files Lawsuit against Dfinity Over ICP Sale
At Huge Valuations, these Two Companies Are the Largest In Crypto
See Why OpenSea Has Becomes the First NFT Unicorn
Largest English Media in Hong Kong to Turn its Archives to NFTs
Nigeria Startup Bill Website Goes Live
The Nigerian Crypto Startup Bill: What To Expect
Watch the Latest Edition of Inside Blockchain – 29th Nov. 2020
Crypto Roast is LIVE – 27th Nov. 2020
AMA Series with Beam CTO & Tech Lead, Alex Romanov
Keep it Locked on to Cryptotvplus
Inside Blockchain | 16.11.2020
Inside Blockchain: WHY YOU SHOULD BECOME A BLOCKCHAIN DEVELOPER
How Blockchain Technology Can Transform Governance In Africa
Hedge Trading on OKEx
Trading cryptocurrency seems cumbersome to new traders, especially those new to the crypto space. There have been a lot of...
The Chances of BTC Dropping to 40k Is Slim – Prateek Suri
The founder and Chief Executive Officer of the Maser group, Prateek Suri joined Tony Obiajuru this morning, 15th March, 2021...
Binance Smart Chain; CeFi or DeFi?
The controversy around whether or not the Binance Smart Chain is centralized or decentralized was cleared on the Inside Blockchain...
How Earnathon is Making Crypto Adoption Easier
Earnathon is making cryptocurrency education and adoption easier with its unique learn and earn platform. It’s no news that the...
NaijaCrypto CEO Says CBN Cannot Ban Cryptocurrency Trading
The Chief Executive Officer of NaijaCrypto, Chiagozie Iwu has said on the Inside Blockchain Show powered by CryptoTVPlus that the...