OpenSea’s valuation is now $13 billion

OpenSea's valuation is now $13 billion

One of today’s largest NFT marketplaces, OpenSea, has closed a $300 million Series C funding round that boosted OpenSea’s valuation to $13 billion.

Theo The Block, OpenSea are working hard to raise new capital and their goal this year is a company valuation of $ 15 billion.

But it seems that the above goal will soon be achieved when recently OpenSea has successfully raised 300 million USD in a Series C funding round led by hedge fund Coatue Management.

The Series C funding round helped OpenSea raise its valuation of the company to $13 billion, which is an incredibly impressive number for a crypto company that’s been in business for just over four years, according to Newcomer.

OpenSea co-founder and CEO Devin Finzer has confirmed that the company has raised $300 million in new funding.

“This fundraising campaign was very successful. We plan to use this money to improve customer support, hire more staff, develop more products, and improve security. In addition, we are also planning to invest in NFT and Web 3.0.”

Receiving new capital will help OpenSea improve its position against other competitors.

Coinbase is preparing the final test steps before launching its own NFT marketplace, meanwhile FTX also announced that they will expand the reach of their NFT marketplace this year.

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