OpenSea Is Now Gas-Free After the $100 Million FundRaising
OpenSea, a decentralized marketplace for trading virtual items, announced it has raised $100 million in its latest fund raising. The company is now gas-free and will focus on expanding the platform to new markets and creating more digital assets.
The opensea coin is a cryptocurrency that has been recently released. It has raised $100 million in the last month and is now gas-free.
Following the announcement of a $100 million Series B financing round and a $1.5 billion valuation, OpenSea has officially become one of the crypto unicorns. It was headed by Andreessen Horowitz, commonly known as a16z, an American venture capital company.
OpenSea has officially stated that it has extended its Blockchain support with Polygon, according to a post published on July 20. OpenSea is now gas-free for the time being, enabling artists to completely earn their way into bitcoin, thanks to the $100 million in financing.
We’re growing! @a16z is leading a $100 million fundraising with a $1.5 billion value.
OpenSea is now cross-blockchain as well. Gas-free NFTs are now possible, enabling creators to earn their way into crypto for the first time.
July 20, 2021 — OpenSea (@opensea)
Unicorns are companies having a market value of greater than $1 billion. OpenSea has now joined the ranks of cryptocurrency unicorns such as Coinbase, Animoca Brands, and Chainalysis, to mention just a few.
Former Walt Disney executive Michael Ovitz, actor Ashton Kutcher, and NBA star Kevin Durant all took part in the fundraising, as did Coatue, a hedge fund and private equity company. Despite this, the company claimed that it is gas-free, enabling users to completely earn their way around.
In the future, OpenSea plans to provide support for Dapper Lab’s Flow blockchain as well as Tezos.
NFT is on the rise.
The NFT market has seen considerable growth since its $23 million Series A financing round in March. The money will be used to grow the team, develop more cross-chain compatibility, and enhance user experience, according to the Forbes article, although the company has not said expressly.
As a result, Kathryn Haun, a general partner at Andreessen Horowitz, will join the OpenSea Board of Directors. In addition, the company intends to launch additional initiatives to supplement its NFT marketplace in the future. Also, according to OpenSea:
“Our overall aim is to contribute to the creation of systems and standards that allow all kinds of digital wealth to be converted into genuinely ownable and freely exchangeable forms.”
According to DappRader statistics, the OpenSea market saw $181.92 million in volume from 553,000 transactions in the previous 30 days.
The number of recordings on NFT has been high since the beginning of the year. The globe has been immersed in the NFT industry; in fact, NFT played a significant role in the year 2021. In the first half of the year, the NFT sale reached a new high of almost $2.5 billion. One notable aspect is that every week, a new NFT is released onto the market. Investment in NFT is clearly growing, and the world is shifting toward NFT.