OpenSea was valued at $1.5 B in July of 2021. After its latest funding round the NFT marketplace is valued at a staggering $13.3B.  Covered: OpenSea Is Now Valued At $13.3 Billion OpenSea’s Commitment To Expansion And Growth OpenSea Is Now Valued At $13.3 Billion In an announcement via a blog post yesterday, the most […] The post OpenSea Transaction Volume Increased Over 600x In 2021; Now Valued At $13.3 Billion appeared first on CryptosRus.

OpenSea Transaction Volume Increased Over 600x In 2021; Now Valued At $13.3 Billion

OpenSea was valued at $1.5 B in July of 2021. After its latest funding round the NFT marketplace is valued at a staggering $13.3B. 

Covered:

  • OpenSea Is Now Valued At $13.3 Billion
  • OpenSea’s Commitment To Expansion And Growth

OpenSea Is Now Valued At $13.3 Billion

In an announcement via a blog post yesterday, the most well-known NFT marketplace announced that they have raised $300 million in new venture capital for Series C. Not only that, they released their valuation at a staggering $13.3 billion.

 

This is the first time they have released their site’s value since late July, in which they were only valued at $1.5 billion. The funding round was led by Paradigm and Coatue, and included new and existing investors. OpenSea will be using this funding to work with their partners in order to bring a “depth of experience” to Web3, NFTs, and the best consumer experiences of these products. Additionally, OpenSea’s transaction volume soared over 600x in 2021.

The blog post further mentions the following goals they have for this funding and the future of the NFT marketplace:

“1) accelerate product development, 2) significantly improve customer support and customer safety, 3) meaningfully invest in the wider NFT and Web3 community, and 4) grow our team.”

This announcement of the site’s value of $13.3 billion shows the rapid growth of the site and the NFT space overall. In 2021, we saw the world wake up to the possibility of NFTs representing the basic building blocks to a key innovation of peer-to-peer economies, and OpenSea is leading the way.

OpenSea’s Commitment To Expansion And Growth

In the blog post, they also mentioned a new hire, and how the site will continue to expand and accelerate product development and user experience.

In order to bring NFTs to a broader consumer audience this year, OpenSea announced their new hire for the position of VP of product, Shiva Rajaraman. The new hire has an impressive vita. Before accepting this position at OpenSea, Shiva worked for Meta as the full-time VP of commerce. Before that, he worked for Wework, Apple, and Spotify over the past six years. Position titles for these companies included Chief Technology Officer and VP of Consumer Product.

“Shiva is passionate about building a new web that rewards creativity and participation with fewer gatekeepers, better privacy, and sustainable economics.”

With the announcement of the value of the site, its giant funding round, and the hire of this high-profile individual, OpenSea is not joking around.

Furthermore, OpenSea is focused on implementing key features that allow for lower barriers to enter the NFT space, and are accelerating their multi-chain support to help individuals use the NFT marketplace. They also plan to give out grants to developers, builders, and creators that will enhance the future of the NFT space.

To conclude, there is no doubt that the NFT ecosystem is growing as a whole and can provide much more than pixels, and OpenSea is just getting started.

 

 

The post OpenSea Transaction Volume Increased Over 600x In 2021; Now Valued At $13.3 Billion appeared first on CryptosRus.