OpenSea Expands Into the Venture Capital Business

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

AccessTimeIconFeb 11, 2022 at 6:18 p.m. UTC
Updated Feb 11, 2022 at 8:33 p.m. UTC

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

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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Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

CoinDesk - Unknown

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.