{"id":389813,"date":"2022-01-05T11:30:56","date_gmt":"2022-01-05T08:30:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/opensea-raises-300-million-for-encrypted-digital-marketplace\/"},"modified":"2022-01-05T11:30:56","modified_gmt":"2022-01-05T08:30:56","slug":"opensea-raises-300-million-for-encrypted-digital-marketplace","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/opensea-raises-300-million-for-encrypted-digital-marketplace\/","title":{"rendered":"# OpenSea raises $300 million for encrypted digital marketplace"},"content":{"rendered":"

“# OpenSea raises $300 million for encrypted digital marketplace <\/strong>”
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The nonfungible token (NFT) market is gaining momentum as the next frontier in collectibles, gaming and the metaverse.\u00a0<\/p>\n

To accelerate this vision, OpenSea announced<\/a> on Jan. 4 that it has secured $300 million in a Series<\/a> C funding led by Coatue and Paradigm.<\/p>\n

OpenSea is a digital market based on the Wyvern Protocol, which is composed of custom-built Ethereum smart contracts that are expressly created for buying and selling unique digital assets. The marketplace was established in 2018.<\/p>\n

With the most recent investment, OpenSea’s value has now surpassed $13.3 billion. Apart from Paradigm and Coatue, OpenSea noted that there were a number of both new and existing investors who participated in the round.<\/p>\n

Related: <\/em><\/strong>Bored Ape Yacht Club NFTs catch up to CryptoPunks, flips floor price<\/em><\/strong><\/p>\n

OpenSea said it will use the money to further develop its product, enhance customer service and security, invest in the wider NFT and Web3 community, and hire more employees.<\/p>\n

In 2021, NFTs played a major role in the mainstream success of crypto and blockchain. The industry recorded over $14 billion in sales during the year, with digital art collections and digital collectibles accounting for 91% of transactions, according to company data. OpenSea has already generated more than $700 million worth of trade volume since the start of 2022, as reported by Cointelegraph.<\/p>\n