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OpenSea is the latest crypto unicorn after $100M funding round

July 21, 2021. Summarized by summa-bot.

Compression ratio: 36.1%. 1 min read.

The funding will reportedly be used to grow the OpenSea team, improve user experience and build additional cross-chain support.

OpenSea has become the latest crypto unicorn after it announced a $100 million Series B funding round led by venture capital firm Andreessen Horowitz at a valuation of $1. 5 billion.

Announcing our $100M raise and $1. 5B valuation, led by @a16z OpenSea is also now cross-blockchain.

NFTs that you create can now be gas-free, allowing creators to fully earn their way into crypto for the first timeDetails ↯ https://t. co/EeQfyZTxUA 1/2— OpenSea (@opensea) July 20, 2021

In a July 20 blog post, alongside the $100M funding round OpenSea also officially announced expanded-blockchain support, starting with a “gas-free” marketplace on Polygon, a layer 2 Ethereum scaling solution.

“Buyers no longer have to pay blockchain fees when making trades on OpenSea, and creators can fully earn their way into crypto for the first time,” the firm revealed.

According to TechCrunch, OpenSea also is planning to expand support to Dapper Lab’s Flow blockchain along with Tezos in the future.

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by summa-bot

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