OpenSea: Worth of the NFT Platform Crosses US$13 Billion

OpenSea made the announcement this week after raising $300 million in funding.

OpenSea NFT Platform

OpenSea is among the most well-known trading platforms for NFT. In an interesting turn of events, the platform made an announcement on Tuesday in a blog post stating that the company is now worth more than $13 billion. This happened after it raised $300 million in its Series C funding.


OpenSea was founded in 2017, and since then, the company has grown very quickly over the last year, particularly due to the boom of NFTs. Though, the site faces growing pains despite trying hard to keep up with the increasing demand.


Currently, this platform is operating with a staff of only 90 people. As moving forward, the company aims to commit to decentralization while also offering solutions and security. This happened after a gallery owner got his NFT assets stolen.


This funding round for OpenSea was led by Coatue and Paradigm, two well-known investment firms. In a statement, the founder of Paradigm, Fred Ehrsam, stated that the founders of OpenSea “have shown true grit over the last four years, weathering uncertainty and sticking to their vision of NFTs as an internet and world-changing primitive.”

At the same time, the CEO of OpenSea, Finzer, stated, “1) accelerate product development, 2) significantly improve customer support and customer safety, 3) meaningfully invest in the wider NFT and Web3 community, and 4) grow our team.”


Finzer also mentioned that OpenSea is aiming to increase its customer support staff. Currently, the support team comprises only 60 people. Furthermore, a former employee of Meta, Shiva Rajaraman, will also join the team and become the new product vice president at OpenSea. His goal would be to increase the accessibility of NFTs, according to Finzer.

The CEO also mentioned that the boom of NFT has led to unlocking economic empowerment and utility through various creative categories, communities, and industries. He further noted that the vision of OpenSea is to help the new digital economies thrive. To make that possible, OpenSea will start lowering the entry barriers, due to which investment in the system will become much easier.


After the recent NFT boom, it looks like the future is still quite bright, and the NFT space is set to grow more in the coming few years.

Share this on social media