On November 17, a report disclosed that the leading non-fungible token (NFT) marketplace, Opensea, is “fielding new investment offers” according to two unknown sources familiar with the matter. The investment could propel Opensea’s valuation sixfold to a market valuation of $ 10 billion, the sources say.
Report Claims Opensea Offered a $10 Billion Valuation
During the first week of November, the popular NFT marketplace Opensea surpassed $10 billion in all-time sales, according to statistics from dappradar.com. At the time of writing, statistics from dappradar.com indicate that Opensea’s all-time sales today stand at $ 11.11 billion.
Now, according to a report published by theinformation.com’s Kate Clark and Berber Jin, Opensea is fielding new investment offers and a new investment could make the company’s market valuation rise to $10 billion.
The two sources told Clark and Jin that the NFT market did not “initiate” the funding, as those familiar with the matter pointed out, “investors are claiming part of the startup.”
The fundraising rumors follow the company’s most recent Series B fundraising round in July. Opensea raised $ 100 million in a round led by Andreessen Horowitz and well-known investors like Tobi Lutke, Kevin Durant and Ashton Kutcher. The Series B round propelled the company to unicorn status with a valuation of $1.5 billion after the capital raise.
Opensea volumes have been slipping month after month since August
The two sources from the theinformation.com editorial did not disclose the investors who have claimed to invest in Opensea. The sources did say the magnitude of sales Opensea saw this summer was the reason behind the firms looking for a piece of the NFT marketplace. However, since August metrics from Dune Analytics indicate that volumes have been dropping month by month.
Opensea supports the Ethereum blockchain and Polygon blockchain and on November 17, the company introduced the Opensea mobile applications for Android and iOS. OpenSea’s daily Ethereum (ETH) volume fell during the month of October, while Polygon’s volumes increased. Ether sales volume on Opensea increased a notch in the second week of November.
