NFT marketplace OpenSea has raised US$300mln in a Series C funding round that valued the business at US$13.3bn.
It marks a stellar rise for OpenSea, driven by the popularity of NFTs and digital art in recent months – a July 2021 Series B funding valued the group at just US$1.5bn.
OpenSea, which is the leading NFT trading platform, said it intends to use the funding for product development, hiring, startup investments, and to “significantly improve customer support and customer safety.”
“[OpenSea’s creators] have shown true grit over the last four years, weathering uncertainty and sticking to their vision of NFTs as an internet- and world-changing primitive,” said Fred Ehrsam, managing partner at Paradigm which was among the highlight names on the Series C docket.