NFT Platform OpenSea Raises Substantial Amount of Capital
Online marketplace OpenSea, a platform for non-fungible trading tokens (NFTs), has received an investment of $300 million. The company says it is now worth $13.3 billion.
Non-fungible tokens are unique bits of digital code that can be linked to a digital asset, such as a musical work or even the source code of the World Wide Web.
Devin Finzer, the CEO and co-founder of OpenSea, said he would use the capital for increased staffing, customer support and security. In addition, Finzer aims to build the platform into the world’s leading NFT marketplace.
“In 2021, we saw the world opening up to the idea that NFTs are the foundational building blocks for brand new peer-to-peer economies,” said Finzer.
NFTs give people more freedom and ownership over digital goods, he says, and allow developers to build applications that “can provide users with real economic value.”