Leading NFT Marketplace Opensea Unveils $10 Billion Valuation, Investors 'Scream' - Finance

On November 17, a report revealed that leading non-fungible token (NFT) marketplace Opensea is “setting up new investment offerings,” according to two unidentified sources familiar with the matter. According to the sources, the investment could increase Opensea's valuation six-fold to a market valuation of $10 billion.

Report claims Opensea offered a $10 billion valuation

In the first week of November, the popular NFT marketplace Opensea exceeded $10 billion according to statistics from dappradar.com in sales of all time. At the time of writing, dappradar.com's metrics show that Opensea's all-time sales $11.11 billion today.

Well, according to a Test report published by Kate Clark and Berber Jin from theinformation.com, Open sea is making new investment offerings, and a new investment could push the company's market valuation to $10 billion.

The two sources told Clark and Jin that the NFT marketplace has not “initiated” the funding as the people familiar with the matter stressed that “investors are clamoring for a piece of the startup.”

The fundraising rumors follow the company's recent Series B fundraising round in July. Open sea 100 million dollars raised in a round led by Andreessen Horowitz and well-known investors such as Tobi Lutke, Kevin Durant and Ashton Kutcher. The Series B round catapulted the company into unicorn status following the capital increase with a valuation of $1.5 billion.

Opensea Volumes have been slipping month after month since August

The two sources quoted in theinformation.com editorial did not provide any details about the investors who are said to be clamoring to invest in Opensea. The sources said the level of sales Opensea saw this summer was the reason the firms were looking for a piece of the NFT marketplace. But since August Metrics from Dune Analytics indicate that volumes have decreased month over month.

Opensea supports the Ethereum blockchain and Polygon blockchain and on November 17th the company introduced the Opensea mobile applications for Android and iOS. The daily volume of Opensea in Ethereum ( ETH ) declined in October while Polygon volumes increased. Ether sales volume on Opensea jumped a notch in the second week of November.

What do you think of the sources that say Opensea is making investments and could increase its valuation by six times? Let us know your thoughts on this topic in the comments below.

Photo credits: Shutterstock, Pixabay, Wiki Commons, Opensea,