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NFT marketplace OpenSea raises over $23 Million

NFTs or Non-fungible tokens have been the talk of the crypto world lately. It is the latest addition to the ever-growing crypto industry and has helped artists all over the world in tackling several digital-world problems. With the recent surge in popularity, several new platforms have taken the plunge and only few have been successful so far. One of such platforms which are not new in the crypto world but has been in talks is OpenSea.

About OpenSea

OpenSea is one of the few NFT marketplaces with excellent use cases and is popular among its peers. While there are several new startups trying to establish their space in this fast-paced industry, investors are not so far behind. OpenSea recently raised over $23 Million in its recent rounds of funding led by Andreessen Horowitz. Among the investors, there were few of the known crypto angel investors such as Naval Ravikant, Alexis Ohanian, Mark Cuban, Dylan Field, and Linda Xie. 

OpenSea joined the crypto world in 2017 and only a few months later announced a $2 million round from Founder Fund and a few other crypto-centric firms. Back then, there were only a handful of NFT marketplaces, and the community was curious and eager to embrace this concept with open arms. However, it wasn’t until late 2020, NFTs became popular partly because of acceptance from digital artists’ communities. 

OpenSea effectively taps true NFT potential

The popularity of NFTs has risen so much that digital influencers such as Elon Musk are tweeting memes about NFTs, supporting their popularity and influence over digital content creation. There are still few wrinkles that need to be ironed out, which can account for the fact that NFTs are still considered to be a superior commodity and are used for high-dollar artwork sales. 

Regardless, NFTs are bound to blow up because of their immense potential, and platforms such as OpenSea are doubling down before anyone else. Towards this end, OpenSea announced their support for Tezos-based NFTs that are far more efficient. By providing a robust marketplace and facilitating the onboarding process for more users, OpenSea might just sail through effortlessly. NFTs are here to stay, and OpenSea is here to ensure a smooth transition. 

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