THELOGICALINDIAN - OpenSea has bankrupt a Series B allotment annular led by Andreessen Horowitz The 100 actor sum aloft gives the close a appraisal of 15 billion
The NFT amplitude has a new unicorn: OpenSea.
OpenSea Plans Multi-Chain Move
OpenSea, one of the arch marketplaces for the NFT space, has become the latest crypto unicorn.
The close bankrupt a Series B annular led by Andreessen Horowitz (a16z) Tuesday, landing a $1.5 billion appraisal afterwards adopting $100 million.
Besides a16z, added participants included Coatue, Creative Artists Agency, Ashton Kutcher, Kevin Durant, and Shawn Mendes. The accession follows a $23 actor Series A round in March, which was additionally led by a16z.
The accession comes during a air-conditioned off beyond the NFT market. Many NFTs accept plummeted in amount back the added crypto bazaar suffered a blast in May, with trading aggregate experiencing a aciculate decline.
Nonetheless, OpenSea doesn’t assume to accept suffered. It recorded $160 actor in sales in June, helped by the growing appeal for projects like Bored Ape Yacht Club and Cool Cats (OpenSea takes a 2.5% cut from every sale). Bored Apes initially traded at 0.03 ETH in May and accept hit a attic amount of about 7 ETH on OpenSea.
So-called “avatar projects” accept been a key active force for the NFT bazaar in contempo weeks, apparent by the growing cardinal of NFT artworks that accept alike on amusing media. Jay-Z afresh abashed the association back he afflicted his Twitter avatar to a CryptoPunk.
The best accepted NFTs of today are about begin on Ethereum, admitting OpenSea has affairs to aggrandize to added blockchains. The online exchange affairs to use the funds to advance its user acquaintance and abound its aggregation as it builds out its offering. It’s appear abutment for Polygon and Klaytn as allotment of the advertisement and will additionally aggrandize to Flow and Tezos.
Disclosure: At the time of writing, the columnist of this affection endemic ETH, ETH2X-FLI, MATIC, and several added cryptocurrencies.
