For the firm, this was their first round of Series A fundraising. The investment will support the company on its expansion and its development team.
NFT’s OpenSea platform earned $ 23 million in revenue in its first Series A fundraising round. The investment will help the startup expand the development team faster and provide more extensive solutions to users.
On March 18, 2021, the information appeared through a note from David Finzer, co-founder and CEO of OpenSea, on his blog. The CEO argues that the company required this financing because it has many plans to offer the best experience to non-fungible tokens (NFT) fans.
According to the statement, the round was at venture capital firm Andressen Horowitz’s hands. Andressen Horowitz has vast experience in the cryptocurrency ecosystem. They also support Dallas Mavericks owner Mark Cuban, the investor Naval Ravikant and the firm Metapurse.
The platform Highlights Some Important Points in the Following Statement:
“In the last six months, the volume of transactions in the NFT OpenSea market has grown more than 100 times. We are lucky to work on many projects and creators from gaming companies, digital artists, musicians, and professional athletes. The world is adapting to the power of this technology, and it is happening suddenly.”
OpenSea plans to create a market for each NFT project. NFTs are an attractive item for many users due to their use and increased prices. OpenSea is one of those platforms that focuses its efforts on the NFT market.
According to the statement, OpenSea, founded in 2017, “seeks to provide a trusted platform for billions of people who may be interested in NFTs.” Among his plans is the creation of a proper market for each NFT project. They indicated that “every musician, creator, artist, influencer and startup can link to this market and sell their NFTs.”
Devin Finzer Expressed That he is Very Optimistic about NFTs and the Future of the Company. He Said on the Blog:
At OpenSea, we are growing and shaping this economy by building the world’s best, largest, and the most trusted market for this new digital asset type. In the following years, billions of people will know about a digital property, and we have built OpenSea as a trusted entry point into this world.
Non-fungible tokens are digital assets or tokenized versions of the natural world that can’t be interchangeable. They can work as proof of authenticity and ownership within the digital world.
The NFT fever still has a long way to go. New projects will emerge to create this type of collectibles or exclusive piece every day. The TV series’s co-host, Shark Tank, spoke about his perspective on non-fungible tokens and cryptocurrencies in a post through the basketball team’s website on February 11 of this year.
On that occasion, the billionaire established similarity between cryptocurrencies and the cards or collectible cards of sports teams.
According to the investor, the American tradition of collecting stamps of their favorite teams and athletes is now adapting to the new reality of cryptocurrencies and digital assets, particularly Non-Fungible Tokens (NFT) collectible tokens in blockchains.
By: Jenson Nuñez