OpenSea founders Devin Finzer, Alex Atallah become first NFT startup billionaires after $300M Series C funding
nftjedi
One of the leading #NFT markets,@opensea ,has raised $300M in its series C round of funding. This announcement lands OpenSea at a monster valuation of$13.3 billion The round of funding was led by investment firms Coatue Management and Paradigm#BTC#digitalart#art#cryptoartpic.twitter.com/GrBEd4TfQ0
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!
BREAKING: After raising at a $1.5 billion valuation just 6 months ago, NFT marketplace OpenSea has now closed a $300M Series C at a $13.3 billion valuation.
Annual Transaction Volume 2018: $474k 2019: $8 million 2020: $24 million 2021: $15 billion
Hate it or love it, it takes a different type of determination to see your business barely see any volume for 3 years (2017-2020) and keep going at it until it eventually happens. Even now, trying to grow faster than the market grows. Respect!https://t.co/r4Y0y8DToO
