OpenSea has announced the launch of its own venture arm called OpenSea Ventures focused on investments in Web3 ecosystem. In a blog announcement, the marketplace said it will particularly back NFT-related protocols, social and gaming projects serving as distribution mechanisms for crypto and NFT elements, and aggregators to boost supporting activity on its platform.
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"Led by OpenSea co-founder Alex Atallah, OpenSea Ventures will help the most promising developers and creators realize their visions to grow Web3 through NFTs, decentralized systems, and other novel blockchain uses," the announcement said.
Those eligible for funding, will also get direct access to OpenSea leadership, assistance with NFT security and guest blog posts on OpenSea's official website. The marketplace added it will focus more on startups that can executed development strategy with the funding "within at least 2 quarters."
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