- OpenSea, the largest marketplace for NFTs, just secured Series C funding of $300 million, with a valuation of the company at $13.3 billion.
- In July, the valuation was $1.5 billion, with a $100 million round of funding.
- As the financial gurus debate whether $13.3 billion is too high, we have a more simple, if not simplistic view: if you’re a startup and already the market leader in a sector of high growth, you probably are worth a lot!
- Everyone was startled when Google bought YouTube for $1.65 billion in 2006. That number was a bargain, in hindsight.
- Of course, OpenSea is likely to face major competition from Coinbase once it opens up its new platform for NFTs. And other marketplaces are likely to sprout. But, for now, OpenSea is the biggest, baddest marketplace on the block.
- Congrats to the two founders of OpenSea, Alex Atallah and Devin Finzer, who became the first NFT startup billionaires. Great going, guys!
