OpenSea Raises $100 million in Series B Round, Hits $1.5B Valuation
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20 July
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OpenSea, a marketplace of non-fungible tokens (NFT), has raised $100 million in a Series B funding round led by Andreessen Horowitz, TechCrunch has learned. The latest funding round brings OpenSea's valuation at $1.5 billion. Other investors like Coatue, CAA, and Ashton Kutcher also participated in the round.

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OpenSea's CEO, Devin Finzer, says the company saw $160 million in sales last month. This month, the company plans to blow past that figure. Finzer also added that OpenSea will move towards "long-term scalability" with support for more blockchain ecosystems. Currently, the NFT-focused startup supports only Ethereum.

South China Morning Post to Issue Its Own NFT

Despite the total cool off on the NFT market, competition between startups in the space is heating up by the day. As iHodl earlier reported, Sorare, another NFT marketplace focused on soccer, is about about to announce its major investment round led by SoftBank. The French startup is close to the $530 million mark at a valuation of $3.8 billion.

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