Non-fungible token (NFT) marketplace OpenSea announced it raised $100 million in a Series B round of funding led by Silicon Valley venture capital firm Andreessen Horowitz (a16z). This round follows a $23 million Series A investment in March, also led by a16z.
OpenSea was founded in 2017 by Alex Atallah and Devin Finzer. The company’s first seed round came from Y Combinator in January of 2018 at $120,000. Five months later, the marketplace raised $2 million, and in November of 2019, OpenSea raised another $2.1 million.
According to DappRadar, OpenSea accounts for the largest volume in cumulative sales among all NFT marketplaces. OpenSea has recorded $835 million in sales and ranks fourth in the number of traders, with 161,681 people, behind AtomicMarket, NBA Top Shot, and Axie Infinity. The latter two are ranked second and third in sales volume respectively.
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