They don’t come much bigger than Andreessen Horowitz, also known as A16z, which announced that it was leading a $23 million Series A round for OpenSea, a popular NFT marketplace.
According to the announcement, angel investors Ron Conway, Mark Cuban, Tim Ferriss, Belinda Johnson, Naval Ravikant, Ben Silberman, and others will be joining the funding round.
General Partner at A16z Katie Haun, who penned the announcement, praised the move adding that the platform provides the needed link between the consumer and infrastructure layers for digital goods.
I’m so excited to announce @a16z‘s investment in @opensea, the largest NFT marketplace. It provides the needed link between the consumer & infrastructure layers for digital goods, allowing people to search items across platforms & view their provenancehttps://t.co/rdAFuffmRF
— Kathryn Haun (@katie_haun) March 18, 2021
Huge Growth in Crypto Collectibles
If 2020 was the year for DeFi, then 2021 has been the year for NFTs with record breaking sales such as Beeple’s “EVERYDAYS: THE FIRST 5000 DAYS” digital collage fetching almost $70 million at a Christie’s auction.
The venture capital firm acknowledged this growth stating:
“Today there are more than 3 million NFTs for sale, and sales volume on the top sources has grown over 400x year over year to more than $100 million per week. NFTs are breaking out to more mainstream audiences, and represent an entirely new economy based on digital ownership.”
It added that OpenSea provides a one-stop-shop to discover, buy, and sell any non-fungible digital asset while providing additional information …
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