Popular non-fungible token (NFT) marketplace OpenSea is launching an investment arm after raising $300 million at a $13.3 billion valuation in January.

OpenSea Ventures is dedicated to growing the Web 3 ecosystem “through NFTs, decentralized systems and other novel blockchain uses,” said the company in a blog post.
Alongside the venture business, OpenSea is also launching Ecosystems Grants, which are “aimed at elevating creators, developers, and passionate community members working to enrich and expand the NFT ecosystem.”
The venture fund is to be led by OpenSea co-founder Alex Attalah. Among key selling points for potential portfolio companies will be access to the company’s strategic partners, including Andreessen Horowitz (a16z), Standard Crypto, Animoca Brands and Kevin Hartz's A* Capital.
OpenSea saw more than $5 billion worth of NFTs traded on its platform in January, a new monthly record.

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OpenSea Expands Into the Venture Capital Business

OpenSea Ventures will be led by OpenSea co-founder Alex Atallah.

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