OpenSea Announced $100 Million Raise

OpenSea announced last Tuesday, July 20, through its Twitter account, its expansion with an increase of $100 million and its valuation of $1,500 million, led by a16z. Similarly, the company reported that it is now cross-blockchain as well. “The NFTs you create can now be gas-free, allowing creators to earn their way into cryptocurrencies for the first time”, he commented.

“It is becoming increasingly clear that blockchains represent one of the most exciting paradigms shifts in the history of technology. Just as the Internet transformed the global distribution of information, blockchains will reinvent the global distribution of value. But the question has always been: how exactly will this happen? Just as the killer applications of the Internet (such as web pages and instant messaging) were difficult to predict from the beginning, the killer applications for blockchains can still be unimaginable”, he said through an article published on his website.

According to OpenSea, NFTs are emerging as one of the first consumer-oriented “killer” applications for blockchains. In his view, NFTs are a simple primitive for digital goods (think digital art, game items, domain names, and more) with entirely new properties: they are unique, provably scarce, liquid, user-owned, and usable in multiple. Applications.

“NFTs represent the building blocks of the new peer-to-peer economies, where users have greater freedom and ownership over their data, and developers can build powerful and interoperable applications to provide real economic value to users”, he added.

From the transfer of information to the transfer of value

The company explained that their immediate mission is to build the best possible market for NFT, which is why today they remain the largest and most powerful NFT market. However, its broader mission is to help create the systems and standards that enable the conversion of all kinds of digital wealth into forms that can truly be freely owned and changed. In other words, OpenSea’s broader mission is to turn the Internet from an information transfer machine into a value transfer machine.

To further this mission, the company announced the $ 100 million raise led by a16z, featuring Coatue, along with Michael Ovitz, Kevin Hartz, Dylan Field, Kevin Durant, Ashton Kutcher and Tobi Lutke.

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A multi blockchain future

According to the company, as NFTs enter mainstream consciousness, the technology behind them is also evolving – recent years have seen a Cambrian explosion of new blockchains and scale solutions. “Today we officially announced cross-blockchain support, starting with a no-gas market on the Polygon blockchain. Buyers no longer have to pay blockchain fees when transacting on OpenSea, and creators can make their way into crypto for the first time”.