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Andreessen Horowitz leads $23M round for NFT marketplace OpenSea



OpenSea, one of many largest digital collectible marketplaces, has secured backing from enterprise capital agency Andreessen Horowitz, or a16z, and others in a brand new funding round.

In response to Andreessen Horowitz, the agency is main a $23 million Collection A round for OpenSea alongside a16z’s Cultural Management Fund, in addition to angel traders Ron Conway, Mark Cuban, Tim Ferriss, Belinda Johnson, Naval Ravikant, Ben Silberman, and others.

“OpenSea makes NFTs searchable, usable, and organized,” stated a16z common companion Katie Haun. “But it goes further and provides a marketplace that brings all platforms together and eases transactions among all parties, the way eBay and Amazon do.”

The enterprise capital agency cited OpenSea’s progress in its resolution to again the non-fungible token, or NFT, marketplace, saying it had been “off the charts” within the final six months, with transaction quantity having grown 100-fold. As well as, a16z praised the marketplace’s management, together with CEO Devin Finzer and CTO Alex Atallah.

As one of many first enterprise capital corporations to enter the house, Andreessen Horowitz has invested in a wide range of crypto initiatives to this point, together with Libra, Maker DAO, and Coinbase. Final month the agency backed Optimism’s L2 scaling answer.

This story is growing and will probably be up to date.

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