OpenSea is A peer-to-peer marketplace for NFTs, digital art items, and crypto collectibles. Had today announced that it has closed a $100 million Series B funding round led by Andreessen Horowitz (a16z) with participation from angel investors: Coatue, CAA, Michael Ovitz, Kevin Hartz, Kevin Durant, and Ashton Kutcher. reaching a valuation of $1.5 billion, the funding amount means that OpenSea is a unicorn.
With this big cash in the bank, OpenSea will focus on hiring talented engineering, expanding internationally to new markets and audiences, and making it easy for their users to buy and sell digital assets on their platform.
"We're experiencing one of the biggest fundamental changes the internet economy has seen in decades, and he is proud to have been leading it for a while now as what he considers the best user experience and entry point for NFTs." OpenSea CEO Devin Finzer told GamesBeat.
He also said, the fundraised is really all around bringing widespread adoption to NFTs and it's about the growth of the platform that we've built, which has seen significant volume growth over the last first half of the year. We think NFTs are really one of those once every couple of decades paradigm shifts that is just incredibly exciting.
OpenSea is expanding to more mainstream audiences and represents an entirely new economy based on digital ownership. OpenSea also announced that Ethereum gas fees have been removed for creators, buyers, and sellers on the OpenSea marketplace.
"We're now the first cross-blockchain NFT marketplace," Finzer said. We announced support of our polygon integration, which is a layer 2 platform for Ethereum. That enables zero transaction costs for creators, buyers, and sellers. And we're rolling out new blockchain integration in the future.
The company plans to lower transaction costs across platforms to enable its users to use whatever payment method they have and then educate the market about NFTs.