OpenSea Raises $100M in Funding; Valued at $1.5 Billion

OpenSea, a NYC-based NFT marketplace, raised $100M in a funding round which valued it at $1.5 billion.


The round was led by Andreessen Horowitz with participation from Coatue, along with Michael Ovitz, Kevin Hartz, Dylan Field, Kevin Durant, Ashton Kutcher, and Tobie Lutke.

The company intends to use the funds to continue to expand operations and its business reach, as well as to extend its development efforts.

Led by Devin Finzer, CEO, OpenSea is a marketplace for crypto collectibles and non-fungible tokens (NFTs) which allows people to buy, sell, and discover exclusive digital assets such as digital art items, game items, domain names, etc.)

The company plans to support NFT sales from networks like Flow and Tezos in addition to Ethereum. To this end, OpenSea is also announcing cross-blockchain support, starting with a gas-free marketplace on the Polygon blockchain.

Read the announcement here