Investment Offer To NFT Marketplace Opensea Would Valuate It At $10B
According to a report, Opensea – a non-fungible token (NFT) marketplace – is evaluating new investment offers. The investment could place Opensea to a $10 billion market valuation, sources familiar with the matter say.
Last month NFT marketplace Opensea surpassed $10 billion in all-time sales, according to dappradar.com data. At the time of writing, dappradar.com metrics indicate Opensea’s all-time sales equate to $11.15 billion.
A report published by theinformation.com’s Kate Clark and Berber Jin, Opensea is looking into new investment offers, which could hike the company’s market valuation to $10 billion.
According to two sources the NFT marketplace did not “initiate” the financing, but instead “investors are clamoring for a piece of the startup.”
The fundraising rumors follow the company’s most recent Series B fundraising round in July. Opensea raised $100 million in a round led by Andreessen Horowitz and well-known investors like Tobi Lutke, Kevin Durant, and Ashton Kutcher. The Series B round placed Opensea to unicorn status with a valuation of $1.5 billion after the capital raise at that time.
According to the sources, the magnitude of sales Opensea saw this summer was the reason behind the firms looking for a piece of the NFT marketplace. But, since August, metrics from Dune Analytics indicate that volumes have slipped lower month after month.
Opensea supports the Ethereum blockchain and Polygon blockchain and on November 17, the company introduced the Opensea mobile applications for Android and iOS. Opensea’s daily volume in ethereum (ETH) dipped through the month of October, while Polygon volumes have risen. Ether sales volume on Opensea has kicked up a notch during the second week of November.
