OpenSea just announced it had raised $100 million at a $1.5 billion valuation from A16z, otherwise known as Andreessen Horowitz, to scale its NFT marketplace. OpenSea has been the golden star of NFT marketplaces. It has erupted in the last few years, making the New York-based company the leading digital marketplace for crypto collectables and NFTs.
This is OpenSea’s second institutional funding round, with angel investors including Michael Ovitz (CAA co-founder) and investor Ashton Kutcher. This funding amount also indicates that OpenSea is a unicorn with a $1 billion valuation.
With this funding, OpenSea will scale its NFT platform, with an essential focus on employing engineering expertise, growing internationally to new markets and audiences, and creating more ways users can efficiently access, buy, and sell digital assets on the Blockchain.
As the NFT space takes shape, we see more established artists yield their creative hats on the Blockchain. This could be a signal that NFTs are here to stay. With this news, the next few months will be an exciting time—big congratulations to OpenSea.