NFT market leader OpenSea completes $300 million financing, valued at $13.3 billion
According to an announcement by OpenSea, the company has recently completed a $300 million financing round, valuing the company at $13.3 billion. The round was led by Paradigm and Coatue, along with participation from other new and existing investors.
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According to an announcement by OpenSea, the company has recently completed a $300 million funding round, valuing the company at $13.3 billion. The lead investors are Paradigm and Coatue, along with other new and existing investors.
OpenSea aims to achieve four goals with this investment:
- Accelerate product development
- Enhance user support and security
- Inject more investment into the NFT and Web3 community
- Team expansion
OpenSea has brought in Shiva Rajaraman, former Business VP of Meta Facebook, to serve as Vice President of Product. Shiva has previously worked at YouTube, Spotify, and WeWork. Shiva is passionate about building networks that encourage creativity and decentralization. To expand its user base, OpenSea aims to lower the barriers to product usage, simplify blockchain technology processes, actively increase multi-chain support, and improve the way users explore, manage, and display their NFTs by introducing better tools and analytics.