NFT it Non-combustible tokens are collectibles in the form of art, music, trading cards or event tickets, basically anything digital or physical, with a collectible value that is struck into digital tokens and then traded. OpenSea is considered the largest marketplace for Non Fungible Tokens or NFTs because they are widely popular.
In addition to the investor, Andreessen Horowitz or a16z, The Series B funding round had other participants, including Coatue, a mutual fund company, Creative Artists Agency and celebrity investor Ashton Kutcher. Shawn Mendes and Kevin Durant were among other investors who were also present at the financing event. This latest round of funding has helped OpenSea gain $ 1.5 billion in value, making the NFT platform a recent unicorn in the world of cryptography. While this fundraising sounds huge, in reality, this fundraising is not even close to the largest fundraising in the NFT sector. Competitors from OpenSea Dapper Labs and Sorare had raised an amazing amount of funding of $ 305 million and $ 532 million, respectively. These events undoubtedly show that demand is growing and a lot of hope is centered around Non Fungible brands and what it can do in the future.
It is already almost obvious that Non Fungible signs can also be used on physical objects, and some have even argued, quite successfully, that this technique can even be used in real estate cases, which in itself is quite a revelation. If it can be applied to any property other than digital property, then it is naturally understandable what different ways there can be to research NFT applications. This is partly the reason why their popularity is growing day by day.
Kathryn Haun, the main partner of Anderessen Horowitz, will join the board of OpenSea. Kathryn said the OpenSea team has long realized the need to create an open marketplace that facilitates blockchain events where individuals have the freedom to create digital non-edible logos, buy and sell art effortlessly. The OpenSea NFT marketplace was created with all these things in mind, and they provide all of these services on their platform. He said this is one of the main reasons why OpenSea is one of the world’s leading and leading companies dealing with digital resources such as NFTs. He added that as investors, they are very excited to reaffirm their commitment to the OpenSea team, the technologies available to them and, above all, their vision for the future, which is to provide an optimal user experience for the new generation of users. artists and content producers, sellers and buyers – all under one roof, on the same platform.
The funds received by OpenSea will be used primarily to continue and build cross-blockchain support on the OpenSea platform, to improve the user experience tenfold, and to grow the team. Initially, OpenSea only supported the buying and beating of NFTs on Ethereum, which has suffered from congestion and very high transaction fees. However, OpenSea has announced its readiness to support the blockchain scaling platforms of Ethereum, Klatyn, and Polygon. Not only that, they have also announced that in the future they plan to move on to Tezos and Flow as well.
OpenSea CEO Devin Finzer exclaimed that they have noticed a growing tension over developments in the OpenSea team. Everyone from artists, designers, engineers – everyone is excited to see and experience the new face of openSea and the progress they have made. He even added that while it may sound a little sleepy, he feels as if a whole new form of the Internet is emerging. He mentioned that this is actually the right time for them to go seize the opportunities and make it work. Their ultimate goal or vision is to change people’s lives and enable them to be part of the real economy and not just part of some ecosystem that is closed to the masses.