OpenSea's private valuation has grown more quickly than almost any other startup because of its blockbuster 2021.
The firm closed a $300 million Series C round. The raise valued the startup at $13.3 billion, showing the growth the startup has seen in recent months. The Series C raise was first reported by The Information in November.
In the past 30 days, OpenSea has seen transaction volume of more than two billion dollars, and hauled in hundreds of millions of dollars in fees. The firm's ballooning valuation is reflective of their own volume growth but also that of other flagship NFT firms including Dapper Labs which raised at a $8.6 billion valuation last year.
In a post on his website, OpenSea CEO, Devin Finzer, stated that his platform's transaction volume increased over 600x last year.
OpenSea is in the sights of dozens of other NFT marketplaces but has few major competitors at the moment, though that may change as other NFT marketplaces receive funding. The NFT space saw a lot of activity in the year, but OpenSea realized this valuation will rely on its continued success and its ability to entice newbies into the world ofcryptocurrencies.
OpenSea hits a valuation of over $1 billion.
