NFT overlord, OpenSea, has raised an astonishing $300 million in series C funding, thereby taking the overall company value up to an unfathomable $13.3 billion. The new valuation marks a huge increase to the meagre $1.5 billion it was worth back in July.
Paradigm and Coatue led the way, with additional funding provided by a wealth of new and existing investors. OpenSea will now use the funds to bolster its platform, accelerate product development, improve customer support and safety, and invest in the wider NFT and web3 world.
In order to facilitate this growth, OpenSea is expanding in all directions, with job opportunities opening up across the board. As a result, they will scale up their customer support as well as their trust and safety roles, and will endeavour to facilitate an environment where the customer is king.
In addition, the NFT trading goliath will continue to support a number of web3-based projects through funding initiatives, as well as launch its own grant program to support up-and-coming developers which will arrive during Q1 2022.
OpenSea has continued to push boundaries over the last year, despite sailing through some choppy waters. However, with reports of stolen NFTs and plagiarized artworks at an all-time high, security will likely play a huge part in the coming year. The question on everyone’s lips, is therefore: how do they improve security without compromising the decentralized nature of the blockchain?