OpenSea raises 300 million U.S. dollars for the encrypted digital market

The non-fungible token (NFT) market is becoming the next frontier of collectibles, games and entertainment. Metaverse.

To accelerate this vision, OpenSea Announce On January 4, it received $300 million in Series C financing led by Coatue and Paradigm.

OpenSea is a digital market based on the Wyvern protocol, which consists of customized Ethereum smart contracts, which are created specifically for buying and selling unique digital assets. The market was established in 2018.

Through recent investments, the value of OpenSea has now exceeded $13.3 billion. In addition to Paradigm and Coatue, OpenSea pointed out that there are many new and old investors participating in this round.

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OpenSea said it will use the funds to further develop its products, enhance customer service and security, invest in a wider NFT and Web3 community, and hire more employees.

In 2021, NFT played an important role in the mainstream success of encryption and blockchain. According to company data, the industry’s annual sales exceeded 14 billion U.S. dollars, of which digital art collections and digital collections accounted for 91% of the transactions. OpenSea has Generated more than 700 million U.S. dollars According to Cointelegraph, the volume of transactions since the beginning of 2022.