OpenSea, one of many largest digital collectible marketplaces, has secured backing from enterprise capital agency Andreessen Horowitz, or a16z, and
OpenSea, one of many largest digital collectible marketplaces, has secured backing from enterprise capital agency Andreessen Horowitz, or a16z, and others in a brand new funding spherical.
Based on Andreessen Horowitz, the agency is main a $23 million Sequence A spherical for OpenSea alongside a16z’s Cultural Management Fund, in addition to angel traders Ron Conway, Mark Cuban, Tim Ferriss, Belinda Johnson, Naval Ravikant, Ben Silberman, and others.
“OpenSea makes NFTs searchable, usable, and arranged,” stated a16z common accomplice Katie Haun. “However it goes additional and supplies a market that brings all platforms collectively and eases transactions amongst all events, the best way eBay and Amazon do.”
The enterprise capital agency cited OpenSea’s development in its choice to again the non-fungible token, or NFT, market, saying it had been “off the charts” within the final six months, with transaction quantity having grown 100-fold. As well as, a16z praised {the marketplace}’s management, together with CEO Devin Finzer and CTO Alex Atallah.
As one of many first enterprise capital companies to enter the area, Andreessen Horowitz has invested in quite a lot of crypto initiatives up to now, together with Libra, Maker DAO, and Coinbase. Final month the agency backed Optimism’s L2 scaling answer.
This story is creating and can be up to date.