One of the first and biggest NFT marketplaces, OpenSea, has raised $23 million in the latest funding round led by Andreessen Horowitz, and a number of other major names such as Naval Ravikant, Mark Cuban, Metapurse, Dylan Field, and Linda Xie.
OpenSea was founded in 2017, way before many had even heard about NFTs. Since then, it has always been leading from the front, paving the way with innovations and tech which many of the other NFT marketplaces you see today have gone on to adopt. The rising interest in NFTs over the past six months has caused the transaction volume on the platform to grow over 100x, and with the layer 2 MATIC integration launch just around the corner, this funding will only go towards bolstering their reputation further.
Lately, creatives from every field – musicians, artists, influencers, gamers – have been flocking over to OpenSea to create NFTs and that shows no sign of stopping.
So with the platform’s rise in popularity, there’s also a growing need to improve and innovate the current ecosystem. OpenSea will use this funding round to create the building blocks still missing from the internet and Web3 — building blocks that will push forward the paradigm shift we are experiencing in digital ownership, and set up the foundations for vibrant, open economies in the digital world.
Congratulations to the whole Opensea team. Keep running from the front.
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Ivelina is an NFT and Blockchain lover. She has a knack for putting complex concepts into simple words.