Opensea Elevated $300 Million For An Encrypted NFT Digital Marketplace. The fundraising amount will be used to further enhance its vision.
Opensea Elevated $300 Million For An Encrypted NFT Digital Marketplace.
The Non-fungible token is achieving momentum as the upcoming frontier, in collectible, gaming, and the metaverse. Additionally, The NFT marketplace, Opensea experienced that in 2021, the world awakens to the idea that NFT represents the primary building blocks for brand new peer-to-peer economies.
Moreover, they provide users liberty and hold over digital goods. Also, permit the developers to develop powerfully, interoperable applications. That gives real economic value and utility to users.
So, the opensea vision is to become the core destination for these new open digital economies to flourish. And develop the friendliest and trusted NFT marketplace in the world.
For accelerating this vision. On, Tuesday, Opensea has announced that it has successfully gathered $300 Million in a Series C fundraising. The funding round was led by Caotue and Paradigm.
Opensea Short Overview:
Opensea is a digital NFT marketplace, that is based on a Wayner protocol. Which contains custom-built smart contracts that clearly developed for buying and selling rare digital assets. The marketplace came into being in 2018. And now ruling amongst top NFT market places.
Additionally, with the latest investment, the opensea worth has now crossed $13.3 billion. Besides Paradigm and Coatue, the Opensea noted that there were many new and existing investors. Who contributed to the fundraising round.
The Aim Behind The Series C Fundraising Round?
Opensea stated that “the fund amount will use in developing its product. Also, this money will use to improvise its customer service and security. Further, investment occurs in the massive NFT and web.3 communities, and appoint more employees.”
Noticeably, in 2021 the NFT supported pull in the crypto and blockchain to the mainstream successfully. According to the company 2021 year data report, the industry made a recorded sale of over $14 billion, along with digital art collections, and collectibles accounting for 91% of transactions.
Another report, by Cointelegraph, showed that ” opensea has successfully made up to 700,000 value of trade volume, since the start of 2022.